1/30 Market Trade Plan
I think I sat at the desk for 30 minutes post open today after our Monday DeltaOne call just watching TSLA 0.00%↑ and Crude futures. I got short, then long TSLA 0.00%↑ and didn’t look the rest of the day. In fact, I am tied up reading financials on an HVAC company and forgot the time so this is a little late today.
This week is is pretty straight forward as I see it:
Heart of earnings season
Fed on Wednesday
So, deal flow for day trading, until the day after earnings reports or this Fed report is probably light. I don’t feel the need to do an SPX update here again other than what was said yesterday: if you’re reading market news and still addicted to headlines or 15 paragraph summaries on what ES futures did then you’re making it harder than it all needs to be in which case you should join DeltaOne for 90 days and make a shift.
Crude took a break after gapping up at the open last night so $74-$76s remain bullish from my analysis.
For the futures trading reading this (and I talk about it in the premium video) Crude futures are trading way better setup wise right now than the stock indices. The one thing that never made sense to me is why so many futures traders are stuck on just trading one market - Crude is such a great market to trade (it’s think on the order book so it moves well) and now you can trade it so many ways.
And to be clear, the fundamentals with EIA draws the last two weeks make these check backs in price perfect entries for swing longs but also good flow for the intraday traders.
In the Premium Video Tonight I cover:
ES, NQ and Crude Futures
A continuation trade setup
Review of TSLA 0.00%↑