Week 1/2018 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 makes 4 NEW all time highs
  • Moving Averages: Price>10>50>200
  • VIX closes out in LOW 9’s 
  • Volume hovering around 60 day average
  • Weekly trend MML off 11/17 support reaches resistance
  • SPY
    • Daily price action reaches massive breakout off 11/17 lows to resistance low
    • Weekly UPTREND BREAKOUT of long term resistance to short term resistance
      • Long Term maintaining uptrend   

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Video Recap:

  • Included in Week 02 Outlook

ETF’s

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  • Total Stock Market Index (VTI) DAILY breakout/WEEKLY maintaining uptrend
  • IBD 50 ETF (FFTY) lifts above 50ma
  • IBD Can Slim (CANGX) ON HOLD
  • Internet Index Fund (FDN) breakout upside
  • Dollar Index ETF (UUP) maintains downtrend price action
  • BitCoin (BTCUSD) bounce off MML support and breakout back upside

Golden Setups of the Week

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

Recommended YouTube Channel for January

  • Mark Douglas – Trading in the Zone – Audiobook via Youtube

 

Website/Link

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