Happy Friday!
I hate Fridays because it’s the end of trading for two days. Touching grass? Ew.
Shill corner
Limited 90% APEX PROMO - Great time to buy a couple of $50k evals for less than $30 (you can buy up to 20).
This is the weekly view of the 4 major US indexes. Funny to see the strong $RTY starts. Pump & dump vibes. NQ has been leading the way the whole week to the downside. Will it stop today?
Even NQ is last on the weekly picture, if you zoom closer, the trend changed yesterday, post earning. Look at that beast!
It’s critical for you to be aware of big events such as earnings, NFP (at 8:30 AM NY time today), FED & FOMC… Anything that can move the market significantly, you should when it happens. It’s not rocket science, really.
Why should you know? Because of this:
Look at the move on $NQ at 4 PM ($AMZN) and 4:30 PM ($AAPL). I use this website and Earnings Whispers for… earnings!
Here’s the full picture of yesterday + earnings on NQ.
After shorting 550ish this morning, I longed 490 on the London open dip. I discussed it on Twitter, but my plan this week was a potential trend day if one side would be too heavy going into NFP. I think it’s a possibility, and if it’s true, we should open with a nice gap up above the previous day RTH’s highs. If I’m wrong, it’ll cost me 10 pts 2 or 3 times and I’ll treat it like a normal day.
It’ll be hard to know if it’s a trend day until we accept above 560, but if you wait and it works, you already missed a 0.5% move. For trend day, I like to be in as early as possible to give me a chance to pyramid. The success rate is quite low, and I mess up my execution from time to time, but when it works, it’s the most beautiful thing in the world.
Maybe you’ll read this in 3 hours and we’ll be trading 300s. Have a laugh :)
That’s it for today’s market update, be safe, and don’t dig a bigger hole.
For the other topics, remember that we have big things coming up in August.
If you are interested in a (free) live stream, let me know in the comment section. I won’t do it for 5 people. These two pieces of training took me a combined 35h of work.
If you want to thank me, you can do it here and buy me a beer. Many thanks to Ashley, that made me really happy before going to bed.
Fintwit corner - coding edition
Some great folks to follow
Paul is criminally underfollowed.
Additionally, I know the access to my old articles is still blocked, and I’m still in discussion with Support. Thank you for your patience.
See you soon.
— RC
Shill corner
Limited 90% APEX PROMO - Great time to buy a couple of $50k evals for less than $30 (you can buy up to 20).
Dude, you have the cojones to click the buttons on NQ lots... nobody is going to laugh at you! (at least I'm not)
I also like this line of thinking - max 20/30 points for 200+... pretty damn good R:R if you ask me!