Preparing ES Emini and MES Micros Traders
To Trade In Our S&P Trading Room

Transcript

Price Action Bounce Trading System. How To Scalp ES Emini or MES Micros Futures.

Helping Futures Traders Via Our Core Strategy Academy Training Program and Futures Trading Group – The Best Emini Group IMHO.

Good morning, everybody! Good morning, good morning. July the 9th—I can’t believe it, the month is passing by. For the next two days, CPI—my goodness—we are in for a little bit of a ride. We’re covering the next commandment: honor thy mother and father. I can promise you this, if you can’t teach your children to honor their mother and father, they will never honor authority. We see this a lot in today’s school system. My wife’s a teacher, and kids who cannot honor their mother and father do not honor authority. So, it’s very interesting, that’s for sure.

Alright guys, let’s get into it, let’s get into it. So, welcome to the AM briefing brought to you by microstrader.com. I actually forgot to update the numbers here; we’re on like 2113. I’ll update that tonight and be a little better.

So, news drivers today: the main thing obviously is Powell’s testifying in front of the Senate Banking Committee in Washington DC. CPI in two days, and then PPI and consumer sentiment towards the end of the week. The fun starts today—I can’t wait.

So, today’s tip of the week: sometimes you get a nothing day. You miss an entry here, you miss an entry there—so close. Oh well, go with the flow. And like the great philosopher from the 1987 movie Planes, Trains, and Automobiles, Dell Griffith, said, “Go with the flow, like a twig on the shoulders of a mighty stream.” If you have never seen Planes, Trains, and Automobiles, that is on your weekend homework.

So, yesterday we hugged this trend line—hugged it, came down to it, tap-danced, did one little flush, bought it right back up. The journey continues. That’s what ES does—it flushes highs and lows and recovers 80 to 90% of the time. And you’ve got to know how to trade that, and we do that very well in our group.

So, today, oh yeah, YouTube live today. I will be going live 30 minutes before the opening, up to an hour before the open, depending on my morning. If my wife gets up and I’m having coffee with her or something, it’ll be a little later. If she’s sleeping in, which I believe she will be, I’ll probably be on a little earlier. If you like what we do here, like and subscribe, and consider becoming a member.

One of the traders who joined this past week—I always ask people why they join—and he said, “You know, it’d be really great to be in a system where truly you could say the words ‘there’s another high probability trade around the corner’ and know that it’s true.” That is one of the things we certainly have with our system. So, if you’re interested in that system training, check us out at microstrader.com.

Seasonality is working out beautifully. Plus, as I said, I was going to add an election year to this slide. When all else fails, defer to the trend.

Okay, let’s get to the chart. Come on, I want to get to the chart. Chart, there we go. Okay, sorry, I was looking at the wrong thing. We were on the chart, so I think this is the only thing that matters. We are stacking sessions on top of sessions on top of sessions on top of sessions. This red line you see here is a daily trend line, and on an hourly, we have certainly gone into more of a parabolic move. So, careful shorting—you better know when you can short an up move. That’s when something breaks. Has anything broken on here? No. So shorts are difficult. Now, we did get a couple in yesterday’s session, which was nice. If I’d been a little bit greedier, I would have actually had a fantastic day. It was really a nothing day for me yesterday.

I did short here in this little zone you see here, but it just didn’t—I got out. I was like, it didn’t bounce. Either price bounces or it doesn’t. I don’t really do the hangout thing unless I’m in like a second or third ladder, and then I’ll give the trade a little more room. This was really the first ladder down, and then of course we got a nice little drop there and then, oh well, I missed it. It is what it is—sometimes that happens. But we danced right here across this, which was nice. Flush comes back in, and now we are just continuing the up move, probably waiting for Jerome Powell to powder his nose and get in front of the mic and deliver the news that’s going to probably continue to send the market up. The market is anticipating a rate drop, in my opinion, and it is an election year. Don’t fight the FED in my humble opinion.

Let’s check everybody else out. Where’s everybody in relation to yesterday? Man, I’m gonna tell you what, that DOW had quite a move and then took it all back. Unbelievable. So two of us are under the halfback, one of us is flirting with an all-time high, and we are also flirting with an all-time high. So are we all on the same train? No, we’re not at this moment.

So, guys, I will put the link for the YouTube live in the description and in the first comment, and if you have any questions, feel free to bring them into the live, and I’ll do my absolute best to answer them. If you want to actually be on Zoom, either get you a Zoom pass—you can do a day pass, you can do a week pass—or consider becoming a member. I will see you live here in just a little bit. You guys have a safe trading day. Green, my friends! To learn more about our group, go to microstrader.com.