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 4164.25 stop 4159.50. Short 4225.50 stop 4230.75.

The World Index: (+100/-100) eases from +29 to +14 with China/HK struggling and the remaining major markets Bullish. 

Catalysts: Employment Cost Index @ 8:30. Home Price Index @ 9:00. Chicago PMI @ 9:45. Consumer Confidence @ 10:00. Waiting for FOMC tomorrow.   

Quick Tip: Sweet Dreams 

The futures market opens at 6:00 PM ET. It’s called the Globex session, and it is usually easier money than the day session. 

Why? The participants are different. Day session volume brings out all the large lot and algo traders and that creates a nosier effect on price action. 

If you’re thinking “I don’t have the time to analyze the market and know where to...

Results of Friday’s Best S&P Futures Turning Points: Buying 4126.50 picked the bottom of the session multiple times offering 16 points maximum and 13.50 at the close. 

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

Buy 4096.75 stop 4092.00. Short 4208.25 stop 4212.00.

The World Index: (+100/-100) drops from +57 to +29 with most major world markets mildly Bullish.

Catalysts: Nothing on the economic calendar. Waiting for FOMC Wednesday is likely.  

Quick Tip: Second Helpings

The volume level that held the market up on Friday was originally produced on May 24th. It was also Thursday’s day session low. And it generated 4 winning entry signals on Friday. 

What should we expect going forward? 

Traditional technical analysis looks at a price level that often works as strong support. While that may be in some cases, the...

Results of Thursday’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 4126.50 stop 4120.75. Short 4208.25 stop 4212.00

The World Index: (+100/-100) SOARS from -50 to +57 with most major world markets solidly Bullish. 

Catalysts: PCE Price Index @ 8:30. Fed’s Barr @ 9:00. UofM Consumer Sentiment @ 10:00. AMZN/INTC earnings suggest risk-on. 

Quick Tip: Drop the Ego

One of the hardest transitions to make as a trader is the reframing of your belief about winning and losing. We were raised defining winning as good and losing as bad. Now we must change that belief.

Mark Douglas, author of two books on trading psychology said, “When you really believe that trading is simply a probability game, concepts like right or wrong or win or lose no longer have the same significance.” 

Curtis...

Results of Wednesday’s Best S&P Futures Turning Points: Buying 4181.75 stopped out in the Globex session last night. 

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

Buy 4126.50 stop 4120.75. Short 4270.75 stop 4276.50.

The World Index: (+100/-100) drops from zero to -50 with most major world markets Bearish on increasing volatility.  

Catalysts: GDP, Jobless Claims, Durable Goods, and Trade Balance @ 8:30. Fed’s Waller @ 9:00. Pending Home Sales @ 10:00. Bloomberg: Putin said there’s a risk that an escalating conflict could “spill far beyond the borders of the Middle East.” META down in pre-market on forecast of uncertainty. 

Quick Tip: When to Bank It

How traders approach their craft is very individual. Three traders using the same strategy may have different beliefs that vary their results, yet they follow the same asset selection and...

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 Monday’s Best S&P Futures Turning Points: Shorting 4261.50 only offered 7 points before stopping out. 

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) jumps from -57 to +21 with most major world markets mildly Bullish. 

Catalysts: Flash MFG & Services PMI @ 9:45. Richmond MFG Index @ 10:00. Treasury yields ease. MSFT & GOOG earnings after the close (applicable to Globex trading). 

Quick Tip: Small Winners

Trading has only four outcomes; big winners, small winners, small losers, and big losers. 

Allowing big losers is the kiss of death so keep what you’re risking small. Your small losers don’t need much analysis beyond stop loss optimization for varying market volatility. 

Your big winners are likely open managed or...

Results of Friday’s Best S&P Futures Turning Points: Buying 4228.50 filled in the Globex last night and stopped out. 

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 4261.50 stop 4267.25.

The World Index: (+100/-100) eases from -64 to -57 with all major world markets Bearish.

Catalysts: Nothing on the economic calendar. Treasuries hit 5%. Risk-off mood. 

Quick Tip: Cousin DOMO

Fear Of Missing Out, FOMO, is a negative emotional reaction traders have before they enter a trade. Price is gaining momentum and you’re on the sidelines. Impulsively, you break your entry rules and chase the trade. 

The problem with chasing is regardless of the outcome, win or lose, you lose psychologically. The wins only reinforce undisciplined trading. 

The best way to overcome FOMO is to have an abundance mindset. The markets...

Results of Friday’s Best S&P Futures Turning Points: Shorting 4402.25 only ran for 8.25 points. 

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

Buy 4285.75 stop 4280.00. Short 4415.00 stop 4419.50.

The World Index: (+100/-100) eases up from -64 to -36 with most major world markets Bearish. 

Catalysts: Empire State MFG Index @ 8:30. Fed-speak @ 10:30. Israeli war updates.

Quick Tip: “Almost” Trades

Your control of trading is limited. You can control entry, exit, risk, and reward. You have no control over where the price goes. 

Friday’s short was planned well. Price rallied to a key volume level where shorting had edge, then reversed and went 8.25 points in your favor. Hopefully you found some profit in the move and tightened your stop loss. 

The second touch went a few ticks beyond the original stop printing the high of the...

Results of Thursday’s Best S&P Futures Turning Points: Buying 4397.25 ran for 20.25 points. 

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

Buy 4228.50 stop 4223.25. Short 4402.25 stop 4406.50.

The World Index: (+100/-100) plummets from +64 to -64 with all major world markets Bearish.

Catalysts: JPM beats on earnings. Import Price Index @ 8:30. Fed-speak @ 9:00. UofM Consumer Sentiment @ 10:00. Israeli war escalates. 

Quick Tip: Edge on Friday the 13th?

It turns out there is no edge to be found on Friday the 13th. However, there is some interesting evidence about trading on any Friday. 

It's believed that stock markets tend to rally on Friday due to short covering by traders to avoid paying interest on a short position over the weekend. 

Our intraday trend strategy for the S&P futures shows a solid long bias throughout the day...

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

Today’s Best S&P Futures Turning Points (filtered OUT during CPI release if price is too volatile): 

Buy 4397.25 stop 4392.00. Short 4498.00 stop 4501.50.

The World Index: (+100/-100) jumps from +29 to +64 with all major world markets Bullish. 

Catalysts: CPI & Jobless Claims @ 8:30. Crude Oil Inventories @ 11:00. 30-year bond auction @ 13:01.  

Quick Tip: Are You Blind?

You’re reading this so we’re not talking about your vision. No offense. There are so many cognitive biases that affect our trading results, and everyone has some. Possibly the worst bias is called Personal Blind Spot.

It occurs when you fail to recognize your weaknesses and shortcomings, leading to suboptimal trading decisions and poor performance.

One of the primary ways to resolve this bias is through self-reflection and...