Results of Thursday’s Best S&P Futures Turning Points: Neither suggested volume level triggered. 

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

Buy 4059.25 stop 4055. Short 4141.50 stop 4146.25.

The World Sentiment Index: (+100/-100) jumps from -7 to +36 with most major world markets mildly Bullish. 

Catalysts: Non-Farm Payrolls @ 8:30. AAPL comes through, risk-on mood today. 

Quick Tip: Three Q’s

The best formulas for success are simple. 

“The starting point of all achievement is desire.” Napoleon Hill

“You do not rise to the level of your goals; you fall to the level of your systems.” James Clear

“To begin with the end in mind means to start with a clear understanding of your destination.” Stephen Covey

My favorite which applies to every trade comes from Keith Cunningham, author of The Road Less...

Results of Wednesday’s Best S&P Futures Turning Points: Neither suggested volume level triggered. 

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

Buy 4059.25 stop 4055. Short 4136.25 stop 4140.00

The World Sentiment Index: (+100/-100) drops from +17 to -7 in a world of mixed sentiment and low volatility.  

Catalysts: Int’l Trade, Jobless Claims, Productivity and Costs @ 8:30. Banking collapse fears intensify with PacWest plunge. 

Quick Tip: Control

Imagine starting in trading without any historical information. No price charts. No patterns to study. No “tapes” to read. No economic information. No annual reports. What would you use to determine if it was time to buy or sell? 

Thankfully, we needn’t dwell on that question at all. We have incredible historical information available that we can research for potential edge in our trading....

Results of Tuesday’s Best S&P Futures Turning Points: Buying 4108.00 picked the bottom of the session and ran for 29.75 to the close. Feel better about the win by donating a slice to my preferred charity, the Alzheimer’s Association. Click here.  

Today’s Best S&P Futures Turning Points (careful around the FOMC announcement and Press Conference): 

Buy 4059.25 stop 4055. Short 4186.75 stop 4190.50.

The World Sentiment Index: (+100/-100) rises from -8 to +17 in a world of mixed sentiment and low volatility.  

Catalysts: ADP Employment Report @ 9:15. Final PMI Services @ 9:45. ISM Services PMI @ 10:00. Crude Oil Inventories @ 10:30. FOMC Statement @ 14:00 and Press Conference @ 14:30. 

Quick Tip: Buy Banks?

This has nothing to do with day trading futures, the usual topic here. I found some interesting evidence that may appeal to those of you who swing and position trade stocks and...

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

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

Buy 4108.00 stop 4103.50. Short 4229.75 stop 4233.50.

The World Sentiment Index: (+100/-100) is -8 in a world of mixed sentiment and low volatility. 

Catalysts: JOLTS Job Openings @ 10:00. Waiting on FOMC tomorrow. 

Quick Tip: Paint Drying

Yesterday was a “watching paint dry” kind of day. The S&P had a range of 15 points in the Globex and 24 points in the day session. That’s only happened once this year so far. 

We’re all raised from young to do something. Study, work, play, anything but loaf. With trading, sometimes there are no trades teeing up.  

Rather than do nothing, it’s the perfect time to dig into some research. You’re looking for similar...

Results of Friday’s Best S&P Futures Turning Points: Shorting 4176.50 ran for 23.75 points and offered a re-entry as well. Feel better about the win by donating a slice to my preferred charity, the Alzheimer’s Association. Click here.  

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

Buy 4108.00 stop 4103.50. Short 4229.75 stop 4233.50.

The World Sentiment Index: (+100/-100) is on holiday today with only Tokyo open for trading due to the May 1 holiday in Europe, China & Hong Kong. 

Catalysts: MFG PMI Final @ 9:45. ISM MFG PMI @ 10:00. China’s manufacturing slows. 

Quick Tip: Crickets

Only a few people answered Friday’s survey question. You know that I prefer sample size in the evidence collected so there is no valuable result I can report. 

I did notice that no one felt insider information was valuable. All responses...

Results of Thursday’s Best S&P Futures Turning Points: Shorting 4155.50 triggered late in the day catching the top of the session but only good for a few points at the close. 

Today’s Best S&P Futures Turning Points (disqualified during PCE announcement until expected volatility calms): 

Buy 4108.00 stop 4103.50. Short 4176.50 stop 4181.75.

The World Sentiment Index: (+100/-100) drops from +36 to +7 with Asia Bullish and the west Bearish. 

Catalysts: Personal Income/Spending, PCE Price Index & Employment Cost Index @ 8:30. Chicago PMI @ 9:45. Revised Consumer Sentiment & Inflation Expectations @ 10:00. AMZN beats, doesn’t hold gain on cloud growth forecast. BOJ sticks with stimulus. 

Quick Tip: Swinging

Traders come in different colors. Short term, long term, institutional, and retail. Quite a mix of intentions. If you read this newsletter every day you’re probably a retail trader. 

Normally I write...

Results of Wednesday’s Best S&P Futures Turning Points: Neither level triggered. 

Today’s Best S&P Futures Turning Points (disqualified during GDP announcement until expected volatility calms): 

Buy 4059.25 stop 4055.00. Short 4155.50 stop 4158.50.

The World Sentiment Index: (+100/-100) leaps from -21 to +36 with all major world markets neutral to Bullish on lower volatility. 

Catalysts: GDP & Jobless Claims @ 8:30. Pending Home Sales @ 10:00. META beats, holds 12% gain. 

Quick Tip: Persistence

Every successful person in trading and in life has gone through barriers and setbacks to achieve their success. 

In trading everyone deals with losing streaks, drawdowns, unfilled winning trades, slippage, internet outages, criticism from family and friends, and more. 

“I have not failed. I have just found 10,000 ways that won’t work.” Thomas Edison

“I have...

Results of Tuesday’s Best S&P Futures Turning Points: Buying 4120.75 only bounced for 4.50 points. 

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

Buy 4059.25 stop 4055.00. Short 4155.50 stop 4158.50.

The World Sentiment Index: (+100/-100) jumps from -50 to -21 in a world of Bearish leaning mixed sentiment. 

Catalysts: Durable Goods & International Trade @ 8:30. Crude Oil Inventories @ 10:30. MSFT holds big gain, GOOG not so. Maybe waiting on GDP tomorrow, Personal Income on Friday.

Quick Tip: Stop & Reverse

After bouncing 4.50 points off the suggested volume level price plummeted 20+ points to the close. If you’re a novice trader you may be disappointed at the loss. If you’re a seasoned trader you’re OK with the loss. You planned for it. You only risked what you could comfortably afford to lose both financially and...

Results of Monday’s Best S&P Futures Turning Points: Buying 4131.25 triggered in the Globlex catching the low of the session and is still open with 12+ points MFE. 

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

Buy 4120.75 stop 4116.00. Short 4176.50 stop 4181.75. 

The World Sentiment Index: (+100/-100) drops from -21 to -50 with all major world markets modestly Bearish. 

Catalysts: Home Price Index @ 9:00. Yellen speaks on Biden’s economic agenda @ 9:30. Consumer Confidence & New Home Sales @ 10:00. 

Quick Tip: Night Moves

We’ve noticed that the volume levels suggested in this newsletter have been performing much better during the Globex session. Historically, this happens often. Keep that in mind when they don’t trigger during the day session. 

Yesterday’s buy @ 4131.25 triggered at 4:21 ET while most of us...

Results of Friday’s Best S&P Futures Turning Points: Price chopped in a relatively narrow range, neither trade triggered.  

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

Buy 4131.25 stop 4127.50. Short 4176.50 stop 4181.75. 

The World Sentiment Index: (+100/-100) rises from -57 to -21 in a world of mixed bearish-leaning sentiment on lower volatility. 

Catalysts: Nothing on the economic calendar. 

Quick Tip: Fall in Love

I took a call from a fellow over the weekend who was interested in joining our team. His first question was “How consistent are your results?” I said, “Define consistency.” He said, “I can handle a losing day but not a losing week.”

After I explained why that was an unrealistic expectation I went into my coaching questions sequence to understand more about his motivation to...