NQ1!, Grind is Good if you are on the long side
It's been awhile since my last update here. However, As a day trader of NQ I post many updates before a day session starts and during the RTH on Twitter. If you are interested you can follow me there: @ivs_futures.
The futures are in the uptrend looking for a new top. The momentum is diminishing so the volume. A long time ago I put a projected area where the price is going. This is still intact. For swing traders who established long positions after a breakout this is a good situation. For others who are not on the train this is just painful. People keep asking: who is buying at all time highs? It does not matter! The less you know the better. Don't look for news outlets to provide any answers. They have no clues and make things up. This is a pure algorithmic electronic trading based on market structure and signals. The Algos are trend following herd. Until the trend is broken they will not turn around.
For day traders the market offers short and long positions every single day. All you need is to watch the price action and signs of failure of either side to play the odds. Smaller timeframes are ideal to spot the failures.
What to expect:
- The rates cut is already priced in by the Market. You can look at the bonds as a confirmation.
- Next week the earnings season starts. Large banks first. We may see some volatility pick up.
- A few important economic reports will be release related to Housing - which is one of the pillars of US economy breath.
- The diminishing momentum may lead to consolidation before next leg up or a strong rejection.
06/13/2019
The futures are in the uptrend looking for a new top. The momentum is diminishing so the volume. A long time ago I put a projected area where the price is going. This is still intact. For swing traders who established long positions after a breakout this is a good situation. For others who are not on the train this is just painful. People keep asking: who is buying at all time highs? It does not matter! The less you know the better. Don't look for news outlets to provide any answers. They have no clues and make things up. This is a pure algorithmic electronic trading based on market structure and signals. The Algos are trend following herd. Until the trend is broken they will not turn around.
For day traders the market offers short and long positions every single day. All you need is to watch the price action and signs of failure of either side to play the odds. Smaller timeframes are ideal to spot the failures.
What to expect:
- The rates cut is already priced in by the Market. You can look at the bonds as a confirmation.
- Next week the earnings season starts. Large banks first. We may see some volatility pick up.
- A few important economic reports will be release related to Housing - which is one of the pillars of US economy breath.
- The diminishing momentum may lead to consolidation before next leg up or a strong rejection.
06/13/2019