Results of Thursday’s Best S&P Turning Points: Neither suggestion triggered. 

Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets): 

Buy 3921.50 stop 3915.75. Short 4010.00 stop 4013.75. 

The World Sentiment Index: (+100/-100) EASES from +36 to +29 in a world of mixed sentiment with volatility increasing. Historically the close was higher than the open 55% of the time. 

Catalysts: Import/Export Prices @ 8:30. UM Consumer Sentiment & Inflation Expectations @ 10:00.

Quick Tip: Lucky 13?

Friday the 13th is more common than you may think. In fact, the 13th of the month falls on Friday more than any other day. 

The number 13 is associated with bad luck (no 13th floor in most buildings). But not for the stock market. The average gain on this day is 3 times more than the overall average gain for all days. However, those gains are less than half of all other...

Results of Wednesday’s Best S&P Turning Points: The suggested short @ 3966.00 ran for 17.25 points with only 3 ticks of adverse move. Over 3,994 trades price reversed within 3 ticks of the level entry 24% of the time. 

Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets): It’s CPI Day and wild swings in price are likely, thus the turning points are farther away today. 

Buy 3909.75 stop 3905.75. Short 4074.50 stop 4079.50. 

The World Sentiment Index: (+100/-100) EASES from +43 to +36 with most major world markets mildly Bullish with low volatility. Historically the close was higher than the open 55% of the time. 

Catalysts: CPI & Jobless Claims @ 8:30. Fed’s Harker delivers remarks @ 8:45. 

Quick Tip: Retire This Way

You’ve probably heard or read the best ways to have a long and fulfilling retirement: Exercise, more sleep, eat healthy, drink...

Results of Tuesday’s Best S&P Turning Points: The suggested short @ 3951.50 didn’t trigger during the day, but did during the Globex, creating the high of the session and a 9.25-point opportunity… so far. 

Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets): 

Buy 3921.50 stop 3915.75. Short 3966.00 stop 3975.00 (wide, scale in and/or size down if need be). 

The World Sentiment Index: (+100/-100) JUMPS from -21 to +43 with most major world markets mildly Bullish with low volatility. Historically the close was higher than the open 46% of the time. 

Catalysts: EIA Petroleum Status Report @ 10:30. Waiting on CPI data tomorrow.    

Quick Tip: Before Bedtime

The volume levels shared in this blog are left on the price charts until they’re violated. With so many of the levels not filling during the day session, you should be saving the levels...

Results of Monday’s Best S&P Turning Points: The suggested short @ 3913 triggered too late in the session for entry (15:48 ET). 

Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets): 

Buy 3867.00 stop 3861.25. Short 3951.50 stop 3957.25.

The World Sentiment Index: (+100/-100) DUMPS from +50 to -21 with most major world markets mildly Bearish with low volatility. Historically the close was higher than the open 55% of the time. 

Catalysts: Powell speaks @ 9:00. Waiting on CPI data Thursday.    

Quick Tip: Open to Change

About a year ago I wrote a blog on being “open to change.” The idea came from an article I read about five top Wall Street traders’ thoughts on how to deal with disruption in the markets. There were plenty of differences between them including chosen asset class, style, strategy, all the typical things. 

There was one huge ...

Results of Friday’s Best S&P Turning Points: The suggested short @ 3902.25 ran for 16-points. 

Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets): 

Buy 3892.50 stop 3887.50. Short retracement up to 3913.00 stop 3918.75 on the breakout down. 

The World Sentiment Index: (+100/-100) JUMPS from +21 to +50 with most major world markets mildly bullish with low volatility. Historically the close was higher than the open 46% of the time. 

Catalysts: Nothing on the economic calendar. Worries about earnings season are spreading.   

Quick Tip: Big Picture

Novice traders focus on how much they are winning and losing. Every entry, hoping for a winner. Every stopped exit, wishing it didn’t happen. This is incredibly destructive behavior. You’re teasing your emotions, begging them to overrule your common sense. 

Here’s how to stop: 

1. ...

Results of Thursday’s Best S&P Turning Points: Once again, neither suggested level triggered. They remain active today. 

Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets): 

Buy 3811.00 stop 3806.75. Short 3902.25 stop 3908.00.   

The World Sentiment Index: (+100/-100) DROPS from +50 to +21 with most world markets mildly bullish with low volatility. Historically the close was higher than the open 55% of the time. 

Catalysts: Employment Situation @ 8:30. Factory Orders & ISM Services Index @ 10:00.  

Quick Tip: No FOMO

Seasoned traders spend time on the review process. They document every trade their strategies set up, taken or not. They compare their results (behavior) to their plan. This is an excellent way to improve incrementally and get more disciplined and confident. 

There is a “downside” you’ll need...

Results of Wednesday’s Best S&P Turning Points: Neither suggested level triggered. They remain active today. 

Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets): 

Buy 3811.00 stop 3806.75. Short 3902.25 stop 3908.00.   

The World Sentiment Index: (+100/-100) remains at +50 with most major world markets bullish. Historically the close was higher than the open 46% of the time. 

Catalysts: International Trade & Jobless Claims @ 8:30. EIA Petroleum Status Report @ 11:00. 

Quick Tip: Expectations vs. Reality

People are impressionable. Sometimes that can be a problem. We can have great expectations that don’t match up with reality. A perfectly fine trading result can seem like a failure after experiencing a big win. 

Here’s an example. Let’s say the first time you traded the levels shared in this blog your first trade was a 40-point...

Results of Tuesday’s Best S&P Turning Points: The suggested buy @ 3846.50 stopped out. 

Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets): 

Buy 3811.00 stop 3806.75. Short 3902.25 stop 3908.00.   

The World Sentiment Index: (+100/-100) EASES from +67 to +50 with most major world markets bullish. Historically the close was higher than the open 46% of the time. 

Catalysts: ISM MFG Index & JOLTS @ 10:00. FOMC Minutes @ 14:00. 

Quick Tip: Managing Drawdowns

All trading strategies have drawdowns (a protracted losing streak). The challenge is trading through them. You can’t stop thinking that it may “never come back” or churn for an extended period.

Then you get FOMO and think if you stop now it will roar back and you’ll miss the gain.

Obviously, these thoughts are destructive. Don’t go there. 

Last month our intraday trend strategy for oil...

Results of Friday’s Best S&P Turning Points: The suggested buy @ 3830.50 ran for 23 points. The suggested short @ 3902.25 didn’t trigger until 4:06 AM ET this morning and ran for 24.25 points to the next volume level. 

Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets): 

Buy 3846.50 stop 3841.25. Short 3924.50 stop 3930.25.   

The World Sentiment Index: (+100/-100) JUMPS from -21 to +67 with all open major world markets bullish. Historically the close was higher than the open 63% of the time. 

Catalysts: PMI MFG Final @ 9:45. Construction Spending @ 10:00. Mood is bullish starting the new year as Covid in China appears tamer… for now. 

Quick Tip: Set Trades Early

If your strategy allows for setting your trades in advance, like our volume-at-price and advanced supply/demand strategies, do it early. Why? Because the Globex...

Results of Thursday’s Best S&P Turning Points: The suggested short @ 3857.50 reversed for only 5.50 points. The prior buy and subsequent buy were runners for 27 and 23 points (see chart). 

Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets): 

Buy 3830.50 stop 3826.25. Short 3902.25 stop 3908.00   

The World Sentiment Index: (+100/-100) DIPS from -14 to -21 in a world of mixed sentiment and low volatility. Historically the close was higher than the open 56% of the time. 

Catalysts: Maybe Chicago PMI @ 9:45. Little optimism to be found ending 2022 with sizable losses in the major indexes.  Going forward the same hangovers exist; Ukraine war, recession possibilities, higher interest rates, and inflation. 

Quick Tip: Optimism & Pessimism

Can they co-exist? Should they? Yes, but on different levels. 

Starting the New Year, it’s common for you to...