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 momentum breaks out of 50ma
- ES Moving Averages: PRICE>50>10>200
- VIX closes out in High 14’s
- Volume hovering UNDER 60 day average (M8 contract)
- Weekly trend strength on Heiken Ashi bar; close above week 09 high
- Daily price action momentum upside; PRICE>>50>10>200
- Weekly price action holding upside; unable to close above week 09 high
MARKET MOMENTUM – Futures
Using the Murray Math Level (MML) charts on higher time frames can be a useful market internal tool as price action moves among fractal levels from hourly to weekly charts. Confluence of levels may be levels of support/resistance or opportunities for a breakout move. Optimal setups will pass through Resistance or Support prior to moving in the opposite trend.
- Recap in Week 11 Outlook
Golden Setups of the Week
- Looking for highest probability setups with Murray Math Levels, S3/T3 MA’s and HA bars.