Results of Monday’s Best S&P Futures Turning Points: Neither trade triggered. 

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

Buy 4547.50 stop 4543.25. Short 4598.50 stop 4604.25. 

The World Index: (+100/-100) drops from +7 to -29 with the major world markets flat or modestly Bearish on low volatility. 

Catalysts: Existing Home Sales @ 10:00. FOMC Meeting Minutes @ 14:00. NVDA earnings after the close. 

Quick Tip: Be Different

“If you set out to be successful at something and you don’t know how to do it, look around at what everybody else is doing, and don’t do that…” Earl Nightingale

This advice is especially true with trading. If everyone traded the same way there would be no counter parties. We need plenty of different styles and opposing viewpoints for the markets to exist. 

If you’re still struggling...

Results of Friday’s Best S&P Futures Turning Points: Buying 4517.00 caught the bottom of the day and offered 17.50 maximum before closing the session +11.00 points.

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

Buy 4521.00 stop 4517.00. Short 4598.50 stop 4604.25. 

The World Index: (+100/-100) eases from +14 to +7 in a world of mixed sentiment and low volatility.   

Catalysts: Nothing important on the economic calendar. 

Quick Tip: Insider Buying? 

Back on May 3rd of this year I blogged about how effective using Insider Buying is for future stock performance. On that day there was widespread Insider buying in the banking industry during the plunge from a few bank failures. 

Here’s how those trades worked out: 

TCBI +38% before settling +17% now.

LKFN +18% now. 

ZION +62% before...

Results of Tuesday’s Best S&P Futures Turning Points: The short at 4498.00 stopped out. The breakout ran for 19.25 points. 

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

Buy 4430.00 stop 4425.75. Short 4598.50 stop 4604.25. 

The World Index: (+100/-100) soars from +7 to +64 with all major world markets solidly Bullish. 

Catalysts: PPI, Retail Sales & Empire State MFG Index @ 8:30. Fed’s Barr @ 9:30. Crude Oil Inventories @ 10:30. 

Quick Tip: Parabolic Moves

Yesterday was as fun as trading can be if you were long. Day, swing, or position trades all printed green.

For day trades you’re ready for a continuation or a reversal today. No worries. But for swing and position trades you have a tough decision to make. 

The S&P is in a near parabolic move up. These simply don’t last forever, sometimes not for long at...

Results of Monday’s Best S&P Futures Turning Points: There was a typo on the short yesterday, well below price. The long didn’t trigger. 

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

Buy 4364.75 stop 4360.75. Short 4498.00 stop 4502.25.

The World Index: (+100/-100) drops from +21 to +7 in a world of continuing mixed sentiment and low volatility. 

Catalysts: CPI (watch Core) @ 8:30. Fed’s Barr @ 10:00. Fed’s Goolsbee @ 12:45. 

Quick Tip: Big Picture

What’s your Big Picture? The correct answer depends on your time horizon (intended holding period) and trading chart time interval. 

If you’re a day trader using a 5 or 10-minute chart, you’d be out by the end of the day and watching the behavior of the 30 or 60-minute chart. 

If you’re a swing trader using a 60-minute chart, you’d be out in...

Results of Monday’s Best S&P Futures Turning Points: There was a typo on the short yesterday, well below price. The long didn’t trigger. 

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

Buy 4364.75 stop 4360.75. Short 4498.00 stop 4502.25.

The World Index: (+100/-100) drops from +21 to +7 in a world of continuing mixed sentiment and low volatility. 

Catalysts: CPI (watch Core) @ 8:30. Fed’s Barr @ 10:00. Fed’s Goolsbee @ 12:45. 

Quick Tip: Big Picture

What’s your Big Picture? The correct answer depends on your time horizon (intended holding period) and trading chart time interval. 

If you’re a day trader using a 5 or 10-minute chart, you’d be out by the end of the day and watching the behavior of the 30 or 60-minute chart. 

If you’re a swing trader using a 60-minute chart, you’d be out in...

Results of Tuesday’s Best S&P Futures Turning Points: In a relatively narrow, choppy session, neither level triggered and remain on the chart. 

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

Buy 4336.25 stop 4332.50. Short 4433.25 stop 4436.75. 

The World Index: (+100/-100) jumps from -57 to -14 in a world of mixed sentiment and low volatility. 

Catalysts: Fed Speakers @ 9:15 (Powell), 13:40, and 14:00. 10-year Bond Auction @ 13:01. 

Quick Tip: Hot Lists

Stock traders and investors have a challenge that futures and Forex traders don’t have. How to winnow down your trading candidates from around 9500 stocks. 

There are some common filters that are easy to implement like price and volume. Picking stocks that are between $10 and $50 reduces the selection to 4500. Add in average volume over 1 million daily and you’re down to 710. 

You can...

Results of Monday’s Best S&P Futures Turning Points: In a relatively narrow, slow session, neither level triggered. The levels remain on the chart. 

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

Buy 4336.25 stop 4332.50. Short 4433.25 stop 4436.75. 

The World Index: (+100/-100) plummets from +33 to -57 with all major world markets Bearish. 

Catalysts: Fed Speakers @ 7:30, 8:00, 9:15, 10:00, and 13:25. Comments from the Fed’s Kashkari turn slightly hawkish. Today’s lineup of speakers should be closely monitored. 

Quick Tip: Context

You should have a trading strategy (or better yet, several) that is profitable over time. That’s called positive expectation or edge. It doesn’t mean they’re profitable all the time, just over enough time. 

If you are dedicated and document your strategy results by capturing...

Results of Tuesday’s Best S&P Futures Turning Points: Neither trade triggered. The levels remain on the chart. 

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

Buy 4181.75 stop 4177.50. Short 4305.00 stop 4309.00.

The World Index: (+100/-100) drops from +21 to zero in a world of mixed sentiment and low volatility.  

Catalysts: New Home Sales @ 10:00. Crude Oil Inventories @ 10:30. Earnings from 251 companies including META after the close. 

Quick Tip: Confirmation

Here’s a great quote from Jesse Livermore that deserves your attention, “"Do not anticipate and move without market confirmation—being a little late in your trade is your insurance that you are right or wrong."

In our effort to succeed we can devote too much effort to predicting the future. Good luck. The problem is that our predictions are correct just enough to...

Results of Tuesday’s Best S&P Futures Turning Points: Neither trade suggestion triggered in a narrow range day. 

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

Buy 4551.75 stop 4547.25. Short 4598.50 stop 4605.50. 

The World Sentiment Index: (+100/-100) drops from -36 to -86 with all major world markets very Bearish. 

Catalysts: ADP Payrolls @ 8:15. Crude Inventories @ 10:30. US Debt downgraded.  

Quick Tip: When to Follow

As Thomas Paine said, “Lead, follow, or get out of the way.” How does this apply to trading? 

From a stock trading perspective “leading” implies one has performed exhaustive research and has uncovered a stock that has positive fundamental, technical, and marketplace metrics. The analyst knows nearly as much as the executives running the company about its prospects, but not all...

Results of Monday’s Best S&P Futures Turning Points: Neither trade suggestion triggered and remain on the chart. 

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

Buy 4182.00 stop 4178.75. Short 4229.75 stop 4233.50. 

The World Sentiment Index: (+100/-100) PLUMMETS from +14 to -50 with most major world markets Bearish. 

Catalysts: Fed-speak @ 9:00. PMI Flash @ 9:45. New Home Sales @ 10:00. No deal from the White House but both agreed that a default is not going to happen. 

Quick Tip: Be proactive, not reactive.

With 40+ million copies sold and a release date in 1989 you’re likely to have read Stephen Covey’s “The 7 Habits of Highly Effective People.” If not, do it now. It is excellent and timeless advice. 

Habit #1 says be proactive, not reactive. With so many different styles of trading, you know there are strategies that you...