Oct 11, 2018 – No Trends

Premarket Insight

Market analysts pointing to yields and hedging strategies for yesterday’s strong selloff in the overall market. Technically, Nasdaq’s move made sense as it broke through the support created by Tuesday’s inside day candle, as I mentioned in yesterday’s premarket insight as a key area to look out for a big move. What was unexpected was the size and timing of the bearish free-fall. Contrary to popular belief, we a still in a bullish market until proven bearish. Expecting some volatile bouncing for the near future.

 

Volume check showing a ton of strength early, as expected following yesterday’s monster selloff. Before 07:00 EST, my entire watchlist (NQZ18, CLX18, GCZ18, 6EZ18) all well pass the 100K mark. NQ and CL pretty much trading sideways to kick off the premarket, while GC and 6E march bullish. Expecting more volatility in today’s session.

 

Core CPI and Crude Inventories on the Economic Outlook today, although not sure how much that can affect the market beyond what’s already moving the market.

 

Chances of the market dropping to zero – .0000000001% (LOL)

 

COB Recap

Total Loss $-70

  •  TST = $115
  • AMP = $-185

 

 

For real-time insights follow me on Twitter! @Mv3Trader

 

Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”

 

Oct 4, 2018 – Chop Gains

Premarket Insight

The day following a ton of up-down volatility from indecision yesterday, as we can see from the doji candlestick on the daily chart, today’s futures session starts off slightly bearish for the Nasdaq. Headlines give selloff credit to lower Treasuries on higher yields for selloff in the overall markets. However, with the measuring being Nasdaq, Dow and S&P 500 Futures, as of 07:55 EST the selloff is moderate at best and all aforementioned indices have strong support with big picture trend still bullish to neutral.

 

Taking a look at the watchlist (NQ, CL, GC, 6E), other than the already mentioned bearish NQ, GC and 6E starting to open up bullish while CL continues to trade sideways in a tight 40 tick range. We get a break on the economic calendar today with nothing significant scheduled.

 

Volume check at 07:30 showing moderate strength in the premarket. Just another day, nothing special to see here. So far, 6EZ18 the only futures contract on my watchlist that’s above the 100K volume mark.

 

UPDATE: At of 08:00 EST CL broke intraday support with the potential to start a bearish trend.

 

 

COB Recap

Total Profit = $210

 

 

For real-time insights follow me on Twitter! @Mv3Trader

 

Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”

 

Oct 2, 2018 – Slow Chop

Premarket Insight

Following the strong selloff in the yesterday’s afternoon session (I totally missed that easy money), Nasdaq futures (as well as other indices) continue to fall bearish leading up to the opening bell. As of 07:30, NQZ18 traded down more than 0.50% at it lowest point. Looks to be entering a channel, seeing resistance from the 5-minute VWAP. Additionally, Economic Outlook has Fed in sight with Powell speaking during the lunch hour.

 

Also, it will be interesting to see what happens with Crude Oil after soaring into new four-year high territory. So far, Crude is trading sideways but it would be fair to expect some retracement, from profit takers and traders looking to take advantage of pullback following the bullish strength.

 

Big picture, volume check shows strong volume for the premarket with CLX18 and 6EX18 above 100K of volume. GCZ18 only 4K from reaching the 100K volume mark.

In addition to price action mentioned above for NQ and CL, 6E trading bearish while GC looking bullish.

 

COB Recap

Another low energy morning. I’m sure traders are waiting for Powell to speak which is unfortunate for traders like me who only trade the morning session. At the open, I as a bit too aggressive and entered short anticipating the signal instead of actually waiting for the proper signal. Ended up getting stopped out for a full loss.

 

As usual when I get off to a losing start like this, I struggled for the remainder of the day. Only catching some small scalps to make a small portion of the losses back. The fortunate part is this was all in the Topstep account, so I didn’t lose any real money.

 

Also, I worked on working CL back into my trading plan. Took two trades on CL that both were break even only due to working out some kinks with how I had things setup. I also paper traded in Sierra Chart with not much better results. Watch the video below for details of how the day went. Really hoping things are better tomorrow. Honestly, I will be a little upset if things take off in the afternoon after Powell speaks like what happened yesterday after Trump’s speech.

 

 

 

For real-time insights follow me on Twitter! @Mv3Trader

 

Comment below with your opinions and questions.

 

Rob

Mv3 Trader

“Trade Consciously”