Week 40/2017 Recap

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

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  • ES makes 4 new all time highs
  • Moving Averages: Price>10>50>200
  • VIX closes out in mid 9’s
  • No new open gaps formed
  • Weekly trend multiple MML’s at resistance high
  • SPY breakout on Daily long term MML HOLDING in Zone High short-term resistance

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Video Recap:


ETF’s

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  • Total Stock Market Index (VTI) holding above 50ma and hits Resistance Low on multiple MML levels @131.25
  • IBD 50 ETF (FFTY) long term momentum breakout of MML short term resistance high
  • Dollar Index ETF (UUP) holding above 50ma to short term MML reset at resistance low – confirmed pullback on 5/34 cross
  • 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

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Recommended Read for OCTOBER

  • Another AMAZON book on Trading Psychology

Website/Link

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