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This Week in Futures: Watching Key Levels and CPI Report

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This Week in Futures: Watching Key Levels and CPI Report

January 8, 2024 in Education, Watch We're Watching

Let’s dive into a quick recap of last week’s market movements and look ahead at what to expect in the coming week.

Last Week’s Recap: The stock indices experienced a notable sell-off at the beginning of the week breaking a 9 week winning streak. Specifically, the S&P 500 futures (ES) started the year losing (1.5%), closing at 4,735.24 on January 5th​​​​. The Nasdaq 100 declined more severely (3.2%) capping a downtrend all week to end at 16,462​​​​. The 10 year treasury closed slightly above 4%. These movements underscore the market’s current volatility expansion and the potential for new levels to be tested to the downside.

Key Levels to Watch: For the upcoming week, I’ll be keeping a close eye on the S&P 500 (ES) at the 4565 level and the Nasdaq 100 (NQ) around 15890, as indicated by the 4-hour chart using volume profile. Remember, while higher time frame analysis is crucial, it should not create a bias in our short-term day trading strategies.

Big Banks Kickoff Earnings Season: This week marks the beginning of earnings season, with major banks like JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, and BNY Mellon scheduled to report on Friday. Last quarter, each of these banks delivered better-than-expected results, largely buoyed by high interest rates. Their performance could set the tone for market sentiment in the days ahead.

Upcoming Week’s Events: The economic calendar seems relatively light, with the Core CPI report on Thursday at 7:30 am Central being the highlight. This data could provide insights into inflation trends and potentially influence market sentiment.

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FOMO Alert:
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Commodity Futures Trading Commission. Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

I Asked ChatGPT To Write A Poem About Futures Trading

December 10, 2023 in Education

Me:
Please write me a clever poem about day trading the futures markets.

ChatGPT:
In the realm where futures dance and sway,
A trader’s gaze on charts, where numbers play,
With candlesticks that flicker, red and green,
A tapestry of time and price unseen.

In morning light, the markets wake and roar,
As traders brace for what the day has in store.
With screens alight, in digital array,
Each tick, a step, in the financial ballet.

They buy on lows, in hopes of highs to come,
A symphony of strategy, thrumming like a drum.
Sell on peaks, with profits in their sight,
A dance of risk and reward, from morning until night.

The ebb and flow, a tide of gain and loss,
For every victory, there’s a bridge to cross.
In futures’ realm, where fortunes rise and fall,
The trader’s quest, to make sense of it all.

With every move, a lesson learned, a tale,
In market’s winds, they set their hopeful sail.
For in this world of speculation’s art,
The cleverest trader plays with head and heart.

So in the glow of screens, their fortunes cast,
In futures’ market, vast and deep and vast,
Each day anew, with dreams and schemes they trade,
In the endless quest of the market’s serenade.

FOMO Alert:
😱 Fear of missing out on futures brilliance? Enroll in our Futures Fanatic Foundation Course and never miss a beat in futures trading. Yes, I Need This!

Commodity Futures Trading Commission. Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.