Week 39 RECAP

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

Good trading is always going back over the trading WEEK 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.

Weekly Total: 36 setups;  1269 Ticks NET  ( NQ: 895 | ES: 404 | YM: 0) 

Markets Traded 

  • YM, ES, NQ (RTH)

Additional Focus in Video Outlook/Recaps

  • CL, GC, 6E, EMD, 6J, ZS, NG, PL, ZN

Econ Data

It seems to appear that today’s current econ data is nothing more than a flash in the pan number that the market will react slightly to and soon forget. However, when you step back and look at a weeks worth of data, it put’s on an entirely new perspective of the status of the economy. 

  • New Home Sales: Fallen back by a monthly 7.6 percent in August
  • Dallas Fed Mfg Survey: The general activity index remains in the negative column, at minus 3.7 to extend its long uninterrupted negative streak that started with the 2014 collapse in oil prices.
  • Redbook:  continues to point to deceleration
  • S&P Corelogic Case-Shiller HPI: unchanged in data for July. Year-on-year, prices slipped
  • PMI Services Flash: flat based
  • Consumer Confidence: on the upswing
  • Richmond Fed Manufacturing Index: remained soft in September
  • State Street Investor Confidence Index: Globally, institutional investors remained tilted towards caution
  • MBA Mortgage Applications: Purchase applications for home mortgages rose a seasonally adjusted 1 percent  Refinancing applications, fell 2 percent. Composite is NEGATIVE.
  • Durable Goods Orders: flat and so are the indications from the bulk of the August durable goods report.
  • EIA Petroleum Status Report:  inventories fell 1.9 million barrels; DRAW
  • OPEC: OPEC REACHES DEAL TO LIMIT OIL PRODUCTION,  EXECUTION IN NOV – OPEC SOURCE
  • Multiple Fed Speakers: Evans: We’ll Likely Be Stuck With Low Rates ‘for Some Time’
  • GDP: Boost to the second revision of second-quarter GDP which, though still modest
  • International Trade in Goods:  Narrowed slightly
  • Jobless Claims:  Remain Very low
  • Corporate Profits: Fell
  • Wholesale Trade: Inventories Fell
  • Bloomberg Consumer Comfort Index: Continued softness
  • Pending Home Sales Index: Outright weakness
  • NEWS: Hedge funds exit troubled Deutsche Banks
  • NEWS: Apple, Nasdaq Slide On Report Of Exploding iPhone 7
  • Personal Income and Outlays: soft month for the consumer, both for income and especially for spending.
  • Chicago PMI:  good month for the Chicago economy
  • Consumer Sentiment: showing strength

Chart of the Week 

Looking for the chart of the week means looking for what I call the Golden Setup or simply which chart had the highest probability of price action running in TREND. Whether it ran 20 or 100 ticks, it’s the patience to wait for that setup and trust the entry. This is what I strive each day in the market to wait for in each of my setups.

  • Great example of how using the higher time frames, with ALL charts in sync and price action  with the  T3-50/Heikin-OKu cloud, a higher probability of momentum following through in TREND.
  • 2 news related events this week that sent price action in different directions on the ES

9-29-16-es-deutsch-bank-news-2

9-28-16-es-opec-news-2


Daily Recap/Outlook Videos: 

Monday

  • NQ: 70  Ticks (24/35/11)

———————————————–

Tuesday

  • NQ:  91 Ticks
  • ES:   42 Ticks

———————————————–

Wednesday

  • NQ:  218 Ticks (11/19/48/22/-12/44/42/44)
  • ES:    97 Ticks (79/18)

———————————————–

Thursday

  • NQ:  516 Ticks (76/21/15/20/18/202/44/120)
  • ES:   265 Ticks (9/8/19/10/12/114/40/53)

———————————————–

Friday

  • NQ:  Ticks (-32/13/23/140)

One Simple Strategy. ANY market. ANY chart. ANY time frame.

Manual Cover

e-Manual available on teaching this trading strategy and live trading room/screenshare

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s