Week 51/2017 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 momentum stalls after NEW ATH and pulls back
  • Moving Averages: Price>10>50>200
  • VIX closes out in upper 9’s 
  • Diminishing volume through the week below the 60 day average
  • Weekly trend MML previous BREAKOUT of long term overbought/short term resistance – holds in DOJI indecision candle
  • SPY
    •  Daily price action previous break through long term MML resistance low to short term reversal holds in CONSOLIDATION
    • Weekly UPTREND BREAKOUT to short term MML Overbought; Long Term maintaining uptrend to reversal upside

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Video Recap:

  • Will return in 2018

ETF’s

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  • Total Stock Market Index (VTI) DAILY pullback/WEEKLY maintaining uptrend
  • IBD 50 ETF (FFTY) at 50ma in consolidation
  • IBD Can Slim (CANGX) ON HOLD
  • Internet Index Fund (FDN) pullback off short term MML downside
  • Dollar Index ETF (UUP) returns to downtrend price action
  • BitCoin (BTCUSD) MML high selloff and settles at Daily 50ma

Golden Setups of the Week

  • Looking for highest probability setups with Murray Math Levels, T3 MA’s and HA bars.

Recommended YouTube Channel for DECEMBER

  • Jason Kelly

Website/Link

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