WEEK 11/2018 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 Big Picture – Indices

Daily Gaps

  • Momentum pulls back and closes downside from weekly open to 10ema’s
  • Contract Rollover week
  • NQ hits new all time high
  • No new open gaps formed   
  • VIX closes out in High 15’s 
  • Volume picks up through the week to just under the 60 period MA (M8 contract)

MARKET MOMENTUM – ES (S&P Futures)/SPY

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  • ES momentum pulls back to 10ema
  • ES Moving Averages: PRICE>10>50>200
  • Weekly trend indecision Doji on Heiken Ashi bar; Flat finish closing even with week 10
  • 30 minute ES MML drives from Reversal down to Support
  • SPY
    • Daily price action momentum upside pullback; 10>50>PRICE>200
    • Weekly price action holds upside of 21 and 34ema; closing just above previous week 

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Video Recap:

  • Recap in Week 12 Outlook

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.     

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Golden Setups of the Week

  • Looking for highest probability setups with Murray Math Levels, S3/T3 MA’s and HA bars.
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