Futures Index Trend (8.05.19)

Attempting to determine which way a market will go on any given day is merely a guess in which some will get it right and some will get it wrong. To avoid the noise, shifting to a SWING POSITION, can avoid that by shifting to higher time frame chart using the same intraday technical indicators and remaining in the trade that much longer. This does not reflect long term positions and other strategies used for long term growth. Any chart posted here is merely a snapshot of current technical momentum and not indicative of where price may lead forward.   

Monday – August 5, 2019  

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Big Picture: Earnings recession? S/P Earnings down slightly for Q2 as the looming China-US trade war is the thorn that’s keeping us moving forward. Patience is the key for it to be resolved. Swing position in both directions for the noise in the bigger trend on 3Sig rebalance.

Events: Disney Earnings (8/8)

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Market Momentum: Uptrend Pullback (till 20/50ma cross)

S/P 500 Futures

Setup: 2979 Heikin Ashi trending bar.

Trade Management: Option to move stop to Major S/R with 1 contract off at MML support.

Current Status: Five bar confirmation downside with trending HA bars. MML long term reset. Price action bounces off support zone and 200ma.

Outlook:  As long as price action remains above 200ma and no 20/50 cross, we remain in an uptrend pullback. Watch for pullback to VWAP or retest of 200ma and lower MML levels. Watch those HA bars – only play now is downside. Watch for deeper pullback on 20/50 cross if we remain red and under 200ma.

Reversal in Trend: Confirmation will be 5 bar confirmation in the uptrend with follow through.    

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Market Momentum: Uptrend Pullback (till 20/50ma cross)

Nasdaq Futures

Setup: 7885 Heikin Ashi trending bar.

Trade Management: One contract off at Major S/R (7500) and option to keep stop at VWAP. Minimum stop at break even.

Current Status: Five bar confirmation downside with trending HA bars. MML long term reset. Price action bounces off 200ma.

Outlook: Retest VWAP upside or lower MML levels. Watch those HA bars – only play now is downside. Watch for 20/50ma cross confirmation downside and price action around 200ma.

Reversal in Trend: Confirmation will be 5 bar confirmation upside. 


Government Required Risk Disclaimer and Disclosure Statement

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.     

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