Mentor Mike's Daily Turning Points for Friday 9/16/11. | Pacific Trading Academy
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Mentor Mike’s Daily Turning Points for Friday 9/16/11.

Mentor Mike’s Daily Turning Points for Friday 9/16/11.
 

Every freely-traded market makes a series of turning points during the day session of the regional stock market.  They can range in number from two to four, but about 80% of the time there are three: HI-LO-HI or LO-HI-LO.  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

As I mentioned on Wednesday, Ninja Trader asked me to fill in yesterday when their scheduled webinar presenter had to cancel on short notice.  Naturally, I was happy to help out one of our important educational “partners.”  The webinar was right after the close of the market, when I usually post the blog.  After the presentation I got busy answering emails and it didn’t dawn on me until much later in the evening that the blog never got done.  Sorry about that.

Today’s 3-minute chart shows a jagged HI-LO-HI.  Have a great weekend.  Be back Monday.

Please click on the chart below to make it  larger.

ES Chart Daily
Today’s 3-Minute ES Chart

 

 

 

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