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 Thursday’s Best S&P Futures Turning Points: Neither level triggered.

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 4397.50 stop 4402.25.

The World Index: (+100/-100) plummets from +29 to -71 with all major world markets very Bearish. 

Catalysts: UofM Consumer Sentiment @ 10:00. Hangover from Powell’s comments.   

Quick Tip: Stops

To survive and thrive in trading managing risk is critical. The basic component in your risk management plan is the stop loss (how much you are willing to lose on each trade). 

There are many types of stop loss methods including:

1. Dollar

2. Maximum Adverse Excursion 

3. Volatility

4. Moving Average

5. Time

6. Opposing signal 

7. Percent Retracement

Like your choice in style of trading, your stop loss method needs to resonate with your personality. You...