WEEK 6/2018 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 in downtrend to the 200ma
  • Moving Averages: 10>50>PRICE>200
  • VIX closes out in Low 29’s (49.21 high for the week)
  • Volume hovering WELL ABOVE 60 day average
  • Weekly trend MML closes 2nd candle below resistance low towards Major S/R
  • SPY
    • Daily price action momentum on Heiken Ashi bars DOWNTREND
    • Weekly price action pulls back 50% to just under the Major S/R
      • Long Term maintaining uptrend closes BELOW 10ma

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Video Recap:

  • View Market Outlook for Week 07

ETF’s

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  • Total Stock Market Index (VTI) uptrend momentum PULLBACK
  • IBD 50 ETF (FFTY) uptrend momentum; PULLBACK
  • IBD Can Slim (CANGX) ON HOLD
  • Internet Index Fund (FDN) uptrend momentum; Daily PB, Weekly pullback to short term Major S/R
  • Dollar Index ETF (UUP) downtrend momentum pullback upside
  • Bloomberg Commodity Index ETF (DJP) daily/weekly uptrend PULLBACK

Golden Setups of the Week

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