Trading Futures, options on futures and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. The lower the day trade margin, the higher the leverage and riskier the trade. Leverage can work for you as well as against you; it magnifies gains as well as losses. Past performance is not necessarily indicative of future results.
MARKET MOMENTUM – ES (S&P Futures)/SPY
- ES closes out at all time high
- Moving Averages: Price>10>50>200
- VIX closes out in mid 9’s
- No new open gaps formed on ES
- Weekly trend multiple MML’s at resistance high
- SPY breakout on Daily long term MML HOLDING to short term MML Overbought at 251.46
- Total Stock Market Index (VTI) holding above 50ma breaks through MML resistance HIGH on confirmed uptrend.
- IBD 50 ETF (FFTY) long term momentum breakout holding upside to short term MML resistance.
- Dollar Index ETF (UUP) breaks above 50ma to short term MML resistance high.
- Watch video recap covering ETF sectors IYT, XLE, XLF, XLK and EEM
Golden Setups of the Week
- Looking for highest probability setups with Murray Math Levels
Recommended Read for OCTOBER
- Another AMAZON book on Trading Psychology