August 9th, 2017 - S&P 500 e-Mini - Trading Activity - Today's Real Money Profit $0, Sim Trade Profit $544

Opening Comments

Yesterday was a very interesting day.
It started out kind of boring looking like a repeat of Monday.
But, about an hour after the open it took off to the upside blowing through resistance at the previous historic highs and advancing to new highs.
But, the market could not hold the break out to new highs and by Noon was plunging through the open to test support levels from the previous week and finally closed lower than the open.
The activity set up an outside day with a lower close on a failed breakout.
This is potentially a very bearish indicator for the short term market.

The market gapped lower on the open and continued to move lower in overnight trading.

Real Account Profit Target for this week is $350 per day, once we close out the current open position.

Our weekly analysis from the forecasting service we follow, Larry Williams TV, is still indicating a near term correction based on the cycle and inter-market analysis done.

The predictions are normally pretty close, but the timing can be a bit off at times.

The sideways activity for the last 2 weeks will not last forever.
A break from that will be significant and indicative of the market direction in the near term.

We got a break higher that could not be held and then reversed.
This could be the shake the market needs to start our correction.

Real Money Trading S&P 500 e-Mini

Short 8 contracts at an average price of 2440.00.

Continue to monitor.

The prognosis for the market is to have a correction in the near term, August is generally a choppy month which could accelerate a sell off if something breaks.

Our rubber band snapped up yesterday but did not follow through.
This is potentially a Bearish sign and good for our short position.

Simulation Trading LW Best TDOM  Bonds

We are long 1 @ 155 4/32 from 04/08/17
Stop @ 153 16/32
1st exit day is 08/08/17

We are not in profit on the open of 09/08/17.
We hold for the first profitable open or hit the Stop.

Simulation Trading S&P 500 e-Mini
Flip Trade Rule (Modified 07/08/17)
When Flipping trades we flip immediately to 5 contracts.
The target for the flip trade will be the recovery of the previous trades losses.
Profit is secondary to recovery of losses and getting flat.
This will apply to apply to all trades that do not follow through.

Trade Signals
I added an additional trade signal to the mix, the Support & Resistance Trade
This comes into play when the market encounters a support and resistance level and either bounces off or retreats from.
In this case the first naked close signal is taken as the entry point.
This signal differs from the W in that it can occur wherever support and resistance levels occur whereas the W signals generally occur at trend tops and bottoms.
For a more detailed description of all signals see the post;
My Trading Signals Explained - Updated 05/08/17 - Added Signal Support & Resistance

Signal Type
Long Signal Name
Long Signal Acronym
Short Signal Name
Short Signal Acronym
Continuation Trades
Continuation Trade – Long
Cont-L
Continuation Trade – Short
Cont-S
Trend Correction Trades
Rally off higher short-term Low – Long
HI’r-LO’s
Decline off lower short-term High – Short
LO’r-HI’s
W Trades
W Bottom – Long
W-BTM
W Top – Short
W-TOP
Support & Resistance
1st Up off Support – Long
1st UP Off SUP
1st Down off Resistance – Short
1st DWN off RES
1st 2 in a Row Trades
1st 2 in a Row Up – Long
1st 2 UP
1st 2 in a Row Down – Short
1st 2 DWN
Consolidation Trades
Consolidation Break Out – Long
Cons-BO
Consolidation Break Down – Short
Cons-BD
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
3:46
Long
W-BTM
1
2464.25
2463.25
$47
$47




1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
3:57
Long
1st 2 UP
1
2465.25
2462.50
-$140
-$93





No follow through to the Long side, Flip Trade.
1 Contract to Cover.
5 Contracts for Recovery.
Lost $140 on this trade.
Need 3/4 point target for recovery

Flip Trade
Time
Trade Direction
Signal Type
#Contracts Cover
#Contracts Recovery
Entry Price
Exit Price
Trade Profit
Day Profit
4:37
Short
1st 2 DWN
1
5
2462.50
2461.75
$176
$83
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
4:48
Short
Cont-S
1
2461.25
2460.00
$60
$143





1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
4:52
Short
Cont-S
1
2460.00
2463.50
-$177
-$34





No follow through to the Short side, Flip Trade.
1 Contract to Cover.
5 Contracts for Recovery.
Lost $177 on the Trade.
Need 3/4 point target for recovery

Flip Trade
Time
Trade Direction
Signal Type
#Contracts Cover
#Contracts Recovery
Entry Price
Exit Price
Trade Profit
Day Profit
5:20
Long
1st 2 UP
1
5
2463.50
2464.25
$175
$141
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
5:58
Long
Cont-L
1
2464.50
2465.50
$48
$189





1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
701
Short
1st 2 Dwn
1
2460.75
2463.50
-$146
$43





No follow through to the Short side, Flip Trade.
1 Contract to Cover.
5 Contracts for Recovery.
Lost $146 on the Trade.
Need 1/2 point target for recovery

 Flip Trade
Time
Trade Direction
Signal Type
#Contracts Cover
#Contracts Recovery
Entry Price
Exit Price
Trade Profit
Day Profit
7:37
Long
1st 2 UP
1
5
2463.50
2464.00
$119
$162

1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
7:43
Long
Cont-L
1
2464.50
2464.00
-$27
$135





No follow through to the Long side, Flip Trade.
1 Contract to Cover.
5 Contracts for Recovery.
Lost $27 on this trade.
Target @ 1/2 point to recover.
Did a bit better than that.

Flip Trade
Time
Trade Direction
Signal Type
#Contracts Cover
#Contracts Recovery
Entry Price
Exit Price
Trade Profit
Day Profit
8:08
Short
1st DWN off RES
1
5
2464.00
2463.50
$160
$295

 5 minutes from the open we are seeing a long bias in most charts.
It is reasonable to think the market will take back some of yesterday's decline.
That changed to a short bias just before the open.

1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
8:29
Short
Open Trade
1
2463.50
2462.50
$47
$342





1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
8:30
Short
1st 2 DWN
1
2462.75
2461.75
$49
$391





 1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
13:06
Short
1st 2 DWN
1
2465.75
2464.75
$47
$438





1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
13:12
Short
Cont-S
1
2465.00
2464.00
$48
$486
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
13:33
Short
LO'r-HI's
1
2464.25
2463.25
$46
$532
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
13:48
Short
LO'r-HI's
1
2463.25
2465.25
-$102
$430





No follow through to the Short side, Flip Trade.
1 Contract to Cover.
5 Contracts for Recovery.
Lost $102. 
Need 1/2 point target for recovery.

 Flip Trade
Time
Trade Direction
Signal Type
#Contracts Cover
#Contracts Recovery
Entry Price
Exit Price
Trade Profit
Day Profit
13:59
Long
1st UP off SUP
1
5
2465.25
2465.75
$114
$544
1st Trade
Time
Trade Direction
Signal Type
#Contracts
Entry Price
Exit Price
Trade Profit
Day Profit
It is now after 14:00 and we are nearing the close so we will call it a wrap for the day.
Profit for today is $544.

Daily Summary & Charts

 A very active and tradeable day today.
Lots of volume, good volatility and follow through on most trades.




























Got off to a bit of a choppy start in the morning then smoothened out in the regular hours trading.
The Flipping technique worked pretty well today.







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