Tuesday, 12/13/11: Coming Soon! Mentor Mike’s Market Movie!

Tuesday, 12/13/11: Coming Soon! Mentor Mike’s Market Movie!

Every freely-traded market makes a series of turning points during the day session of the regional stock market.  You don’t need to master complex cycle theories or pay to join some elite trading group in order to utilize daily turning points. I can teach you how to spot them with conventional technical analysis



ES: 4 wins / 1 loss       

Special Announcement

I’m working on my new video blog using Camtasia to create “Mentor Mike’s Market Movie” – a daily video showing how the ES moved throughout the day and where the trade opportunities opened up.  I hope to launch this new VIDLOG just after the first of the year.  If this works well, it could be a prelude to a live, hosted trading room with a video recap at the end of each day.

Also, please be advised that I will be on my Holiday Vacation from Friday, 12/23/11 through Monday, January 2, 2012.  I’ll be back in action on Tuesday, 1/3/12, when I’ll hopefully have my prototype VIDLOG ready for your first review.

Chart Chat

Today there was an FOMC meeting.  It is always wise to be flat around 11:15 am PST when the interest rate announcement is made.  So, today I traded early then stayed out of the market until the post-announcement selloff.  My first trade was a loser; the market did not rise enough to hit my target.  I should have seen that the white MA and MACD lines had a slight downward bias at the time.  I still finished in the money.  Today’s pattern was a HI-LO-HI with the middle low skewed toward the early end of the session.  Have a great evening.  Be back tomorrow.

Please click on the chart below to make it larger.
Chart #1
Today’s 3-minute ES chart



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