After making all-time highs last week, the market as represented by the S&P futures (ES), is pulling back. I think this will be an interesting and telling week. On higher time frames, the market is overbought. That being said, the higher time frames are also in clear and strong uptrends. How the market acts this week will tell us whether the current pull back is just a … [Read more...]
Happy New Year!
Helen and I want to wish everyone a very Happy New Year! … [Read more...]
Merry Christmas
Happy Holidays! Helen and I want to wish everyone in our little community a very happy holiday season. There are folks from all across the globe and from many different cultures who visit this site. All are a valued part of our community. It doesn't matter if you celebrate Christmas or you don't. The basic idea behind Christmas is a mindful wish that every creature … [Read more...]
Fed Day Trading
Federal Reserve Open Committee Meeting Days, like today, can be quite volatile. Many traders take the day off. I like Fed Days. Our method of trading is particularly well-suited for days in which volatility expands. When the markets are active, the indications of buying and selling become clear. Just before the Fed announcement, the market (S&P e-minis) pushed down. … [Read more...]
A Solid Approach from Down Under
A trader from Australia wrote to me saying he had a very good start to his week using the 3,000 tick chart and market structure to place his trades in the S&P e-Minis. That's a nice combination. I have been using tick charts since the early 2000's. We've had to adjust them from time to time because of the increasing trading activity, but they are a very nice chart to … [Read more...]
