Every freely-traded market makes a series of turning points during the day session of the regional stock market. They can range in number from two to four, but about 80% of the time there are three: HI-LO-HI or LO-HI-LO. You don’t need to master complex cycle theories or pay to join some elite trading group in order to recognize and utilize daily turning points. I can teach you how to spot them and exploit them with conventional technical analysis.
Scoreboard
ES: 7 wins / 0 losses
Chart Chat
As I mentioned on Wednesday, Ninja Trader asked me to fill in yesterday when their scheduled webinar presenter had to cancel on short notice. Naturally, I was happy to help out one of our important educational “partners.” The webinar was right after the close of the market, when I usually post the blog. After the presentation I got busy answering emails and it didn’t dawn on me until much later in the evening that the blog never got done. Sorry about that.
Today’s 3-minute chart shows a jagged HI-LO-HI. Have a great weekend. Be back Monday.
Please click on the chart below to make it larger.