Mindfulness was the watchword of the day today - as it is everyday.  But today, I did a webinar on trading psychology and fear at Big Mike's Trading Forum.  Although the webinar was for his "elite" members, the open forum is quite good.  You can check out the public forum here: Big Mike Trading Forum Mindfulness is also the day's watchword because the DailyFX website published … [Read more...]

Overnight, the market sold off due to Japan raising the level of it's nuclear crisis to the maximum level.  The daily chart shown includes the Globex session data. The sell-off took the market back into the middle of the large apex that formed between late February and mid-March.  The key question is: Will this level hold? The overnight action looks climactic at the 1310 … [Read more...]

Friday, the S&P futures (ES) traded lower in a sell-off from the recent highs at the 1335 level.  Trading was one-sided to the down-side, but became climactic on the smaller time frames near the end of the day.  The market rallied into the close and closed off its low due to the climactic action. I’ll be watching any early morning move back to the area of Friday’s low … [Read more...]

The S&P futures (ES) have traded within a constricted range over the past three days.  We are waiting for the market to leave this range.  It can spend more time here, but the overnight market indicates that the S&Ps may be ready to move out of the consolidation today.  Watch for increased volatility and the potential for trend day conditions today. Levels to … [Read more...]

Yesterday, I was invited to do some live trading in a webinar for Infinity clients.  As always, it was a lot of fun to talk with and teach traders.  In addition to me, Tom Williams, creator of Volume Spread Analysis, Phillip Friston, a UK fund manager and VSA expert, and Gavin Holmes, TradeGuider CEO and VSA expert were all there.  It was a real pleasure for me to be in such … [Read more...]