You don’t need to master complex cycle theories or pay to join some elite trading group in order to recognize and utilize daily turning points. I can teach you how to spot them and exploit them with conventional technical analysis.
Scoreboard
ES: 7 wins / 0 losses
Chart Chat
Starting next week, I am going to revive an old pratice of mine that came to be known as “M5.” That stands for “Mentor Mike’s Monday Morning Mentoring Moments.” These are short, mini-lessons in various aspects of technical analysis and/or money management. I will begin with some previews from my next Ninja Trader webinar currently scheduled for November 4th. Its working title is “TECHNICAL ANALYSIS: what it is, how it works, and why it is indispensable to good trading.”
Today’s ES reveals a LO-HI-LO configuration skewed toward the beginning of the NYSE day session.
I knocked off early today to catch a bargain matinee of the latest summer blockbuster in 3d: CONAN THE BARBARIAN. I read these pulp fiction stories by Robert E. Howard when I was in college and grew fond of that character. As a retired trial lawyer, there is a certain fantasy appeal to settling disputes with swords and sorcery instead of with piles of paper shuffled by rubber-stamp-wielding bureaucrats. Have a great weekend. Be back next week.
Please click on the chart below to make it larger.