WEEK 16/2018 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

  • Momentum stalls on breakout of top moving averages
  • Q2 Earnings Season
  • New open gaps formed 
  • 10ma unable to break out above 50ma except on RTY
  • VIX holding in mid teens
  • Decreased volume on uptrend

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

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  • ES momentum stalled at 100ma 
  • ES Moving Averages: 100>50>10>PRICE>200
  • Weekly trend downtrend Heiken Ashi bar; closing within week 15 range
  • 30 minute ES MML range bound at support
  • SPY
    • Daily price action momentum stalled at 500ma; MML Major S/R; ADX trend downside/momentum flat
    • Weekly price action holds at 20ma; closes just above Major S/R; ADX trend downside

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Video Recap:

  • Recap in Weekly Outlooks

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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