Trading Session Recap (Week 36; Day 3)

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:   5 setups;  245 Ticks NET  ( NQ: 161 | ES: 0 | YM: 84) 


Econ Data

Reported as current release and in relation to (previous months data).

  • MBA Mortgage Applications: POSITIVE (decrease)
  • Gallup U.S. Job Creation Index: FLAT for 4 months straight
  • PMI Services Index: Above 50 (slight decrease)
  • JOLTS: STEADY CLIMB (increase)
  • Beige Book: MODEST GROWTH
  • AAPl Live event: Iphone 7; iwatch update

appl-live-event

source: http://www.zerohedge.com/news/2016-09-07/dead-market-walking-stocks-bonds-dollar-go-nowhere


Kenneth Polcari Newsletter Highlights

What is it about the FED?  Every time they jawbone about raising rates..the data seems to worsen..and then no one says anything…. .I mean did we hear from Stanley yesterday?  Did he say anything at all?  No…..but look – the FED has to focus on the long game – they should not be focusing on day to day or report to report – YET that is exactly what they seem to be doing….which is why the mkts and investors remain confused……

CLICK HERE to read more of his daily newsletter and subscribe


Recap/Outlook Video: 

  • Will resume on 9/07

Markets Covered: ES, YM, NQ, CL, GC, 6E, EMD, 6J, ZS, NG, PL, ZN


Daily Stats    

  • 1 Market.   
  • 1 Setup.  
  • 44 Ticks
    • NQ: 44 Ticks

Session Highlights

  • Setup #1 – NQ
  • Overall trend of the day: FLAT (DROP and POP)
  • Fib projections levels hit:
    • DOWNSIDE: NQ
    • UPSIDE:

Full Session Chart

9-07-16-full-session


Trend Highlights

ES

9-07-16-trend-es

NQ

9-07-16-trend-nq

YM

9-07-16-trend-ym

—————————————-

Setup Highlights

Setup #1 

9-07-16-setup-1-nq

—————————————-

RTH Closing Charts

  • Volume:
    • ABOVE Average: NQ
    • BELOW Average: YM/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: 
      • ABOVE: NQ/ES/YM
      • BELOW: 
      • @ SUPPORT: 

9-07-16-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

  • No gaps closed/formed today

9-07-16-open-gap-post-market

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