Trading Session Recap (Week 32; Day 4)

Looking at the week behind 1 day @ a time…..

Good trading is always going back over the trading day and reviewing the setups that may or may not have worked out and what kept you in or perhaps took you out too early. Looking for the trend move and remaining in the trade is the objective. It’s your patience and discipline that will continue to grow as a trader when you implement such tools.

Market Traded:  YM, ES, NQ (RTH)

Weekly Total:   20 setups;  604 Ticks NET  ( NQ: 295 | ES: 99 | YM: 210)

Econ Data

  • Jobless Claims: DECREASE 
  • Import/Export: NEGATIVE (Y/Y)
    • Import: POSITIVE (decrease from previous M/M) 
    • Export: NEGATIVE (increase form previous M/M)

Kenneth Polcari Newsletter Highlights

Yesterday also brought us a bit more of the macro data that the mkt so yearns for…..and that is WAGES……You see – the BLS (Bureau of Labor Stats) revealed that wages FELL by 1.4% in  the 2nd Q……and they also buried the 1st Q revision deep in the belly of the report….If you recall – when they first reported on wages for the 1st Q – they told us that wages rose by 4.2%……well as of yesterday they ‘changed that’ to guess what?  Negative 0.5%……just a bit of swing no? 

So the mkt is frustrated – or should I say investors are frustrated with this news because any hopes of a recovery based on that ‘strong jobs report’ last week is an illusion.

CLICK HERE to read more of his daily newsletter and subscribe

Recap/Outlook Video: 

Markets Covered: ES, YM, NQ, CL, GC, 6E, VIX, VXX

Daily Stats    

  • 3 Markets.   
  • 5 Setups.  
  • 200 Ticks
    • NQ:  90 Ticks (74/13/3)
    • YM:  82 Ticks 
    • ES:   28 Ticks

Session Highlights

  • Trend #2
  • Overall trend of the day: UPTREND
  • Fib projections levels hit:
    • UPSIDE: NQ; YM; ES

Full Session Chart

8.11.16 - Session Setups

Trend Highlights

Trend #1

  • Pre-market into RTH open

8.11.16 - Trend #1

Trend #2

8.11.16 - Trend #2


Setup Highlights

Setup #1 

  • NQ

8.11.16 - Trend #1a - Setup - NQ

Setup #2

  • NQ

8.11.16 - Trend #2a - setup - NQ

Setup #3

  • NQ

8.11.16 - Trend #2b - setup 2 - NQ

  • YM; Exited on a 50/144 1m chart as price came under the 144. Price still held above on a 2m chart.

8.11.16 - Trend #2c - setup - YM

  • ES; Exited on a 50/144 1m chart as price came under the 144. Price still held above on a 2m chart.

8.11.16 - Trend #2d - setup - ES


RTH Closing Charts

  • Volume:
    • ABOVE Average: 
    • BELOW Average: YM/NQ/ES
  • Price above 50/200 moving averages on all 3 indices
  • 4 hour Big Pic: UPTREND
    • T3 Moving Averages:
      • NQ: UPTREND 
      • YM: UPTREND 
      • ES:  UPTREND 
    • T3-50: ALL 3 Above

8.11.16 - Big Pic Post-Market

Top Row: Daily chart with supporting 50/200ma and volume based on a 60 day moving average

Bottom Row: 4 hour chart. T3 moving averages. 50/144ema. 


Open Gaps

  • Remain below on indices
  • Above/below on Crude
  • CL closes out GAP @ 43.74

8.11.16 - Open Gap Post-Market


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