Afternoon,

The month started off with a difficult day to trade. The first trade was a trader’s trick set-up after a trend line break below the 56 EMA. The time of the trade was 9:45 am CST with a short entry of 1.40 points. The trade was up 1.40 points so stop was moved to break even. The trade broke even. The next trade was a trend line break below the 56 EMA followed by a trader’s trick set-up. The time was 11: 15 am CST with a short entry of 742.70. Here is the chart of trade 1 and 2.

Trade 1 and 2

Click on chart to enlarge.

The next set-up was another trader’s trick set-up after a trend line break to the down side under the 56 EMA. The time was 13:00 pm CST with a short entry of 737.60. The trade stopped out for a 2 point loss. The final trade of the day was another trader’s trick set-up below the 56 EMA after a trend line break. The time was 13:37 pm CST with a short entry of 736.10. Here is the chart for trades 3 and 4.

Trades 3 and 4

Click on chart to enlarge.

Today was more difficult because the DOW opened up and went up 250 points while the NAZDAQ was very weak.  When the markets are not in sync, there are many cross currents. Fishing in those waters requires more descipline.

Have a great evening.

Best regards,

Ron

This is not a solicitation to buy or sell. 
There is a risk in any investment