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5. Futures Economic Reports for Wednesday July 9, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
I am not sure if it is the overbought conditions stock index futures are in, perhaps fear of the start of earning season or maybe it is the tense situation over in Israel/ Middle East – but the result today was one of the more meaningful down days of the last few months along with above avg. volume.
Not sure it is anything more than normal market action after indices made all time highs last week….I am a little more skeptic now days when it comes to the short side of the indices. That been said, if September SP500 can break below 1952 ( just a bit below today’s lows) I think we have higher chances of a continuation lower.
In between, know what time frame you are trading, know your rules, your objectives, accept the fact that you will have good and bad trading days and measure your progress after you define what it is.
