Wednesday, 12/14/11: Coming Soon! Mentor Mike’s Market Movie!

Wednesday, 12/14/11: 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: 6 wins / 0 losses

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

My chart template today omits the CCI and uses only the MACD in the center panel.  However, the histogram is based on the value of the signal line MA rather than the difference between oscillator and signal lines as is traditional.  I look for the MACD alignments where there are no histogram bars showing in the area between the lines.  In these areas, there is a definitive Red, White and Blue alignment and a higher probability that we are looking at a with-the-trend impulse wave.  To highlight the trade areas, I’ve added green arrows in all three chart panels.  Today’s pattern was a LO-HI-LO.  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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