Even before the announcement of non farm payrolls, which is one of the most significant data releases of the summer, the markets were on the decline. One of the reasons for that has to be yesterday's market action, all the indices fell from their best levels of the day and closed at or close to the lows. Yesterday's close in both the Dow and the S&P 500 was on target to be the lowest Friday close if nothing happened today. The fact that we are down sharply this morning is a huge negative in my book, but is not one that is surprising. As we go into the long Labor Day weekend look for the markets to be very thinly traded and volatile. I'm looking for a new low Friday close today. The lowest most recent Friday close was 16,559.75 on the Dow and 1,970.89 on the S&P 500. The NASDAQ was the only index to remain above its lowest Friday close yesterday by just a few points. The level to watch in the NASDAQ is 4,717.16, that level represents the lowest most recent close on a Friday. I expect the markets to be ugly on the downside as many traders will be leaving early to enjoy the long Labor Day weekend here in the US. I expect any rallies in the markets to be very short lived and running into serious selling pressure. I see no reason at this time to try to catch a falling knife, the odds are just not in your favor. I want to let the markets settle down and find their own level, which they will do eventually. I expect that after Labor Day the markets will present some great opportunities as more people get serious about trading and investing after summer vacations come to an end. This weekend may be a perfect weekend to use the 52-week New Lows on Friday strategy. Here are the three rules you need: Rule #1: On a new 52-week low when the market closes at or close to its low on a Friday, short and go home short for the weekend. Rule #2: Exit short position on the opening the following Tuesday. Rule #3: If the market opens sharply higher on Monday, exit this position immediately. Remember, the "52-week New Lows on Friday" rules work extremely well in futures and in Forex.
MarketClub/INO, a division of TIFIN Group LLC, is affiliated with Magnifi via common ownership. Affiliates of Magnifi will receive cash compensation for referrals of clients who open accounts with Magnifi. Due to this compensation, a conflict of interest exists since MarketClub/INO has an incentive to recommend Magnifi LLC.
Magnifi LLC does not charge advisory fees or transaction fees for non-managed accounts. Clients who elect to have Magnifi LLC manage all or a portion of their account will be charged an advisory fee. Please see Magnifi’s Form ADV for additional information about fees and charges that may apply. Magnifi LLC receives compensation from product sponsors related to recommendations. Other fees and charges may apply.
Magnifi, normally $14 per month, will be available at no additional cost to MarketClub members. Account holders must be 18 years of age and have an approved Magnifi account. Magnifi will determine qualifying account holders at its own discretion.
U.S. Government Required Disclaimer—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.
All trades, patterns, charts, systems, etc., discussed in this advertisement and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author and do not necessarily reflect those of the publisher or INO.com. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the MarketClub™ methodology or system will generate profits or ensure freedom from losses. The testimonials and examples used herein are exceptional results, which do not apply to the average member, and are not intended to represent or guarantee that anyone will achieve the same or similar results. Each individual's success depends on his or her background, dedication, desire, and motivation.
You are now leaving a Magnifi Communities’ website and are going to a website that is not operated by Magnifi Communities. This website is operated by Magnifi LLC, an SEC registered investment adviser affiliated with Magnifi Communities.
Magnifi Communities does not endorse this website, its sponsor, or any of the policies, activities, products, or services offered on the site. We are not responsible for the content or availability of linked site.