CLICK HERE TO ZOOM OR CHAT ON THE PHONE

LEARN ABOUT OUR TRADING COURSES & PROGRAMS HERE
ABOUT RDT
ABOUT RDT MEET THE RDT TEAM ABOUT NINJATRADER TESTIMONIALS
COURSES
COURSES AND PROGRAMS (ENGLISH) CURSOS Y PROGRAMAS EN ESPANOL THE VAULT
NEWS
MARKET NEWS BLOG
LEARNING CENTER CONTACT
Join Our Discord Channel

Monday October 10, 2022 Weekly Emini S&P Market Rundown with Responsible Day Trading

Oct 11, 2022

Hello traders!  I hope that everyone had a fantastic weekend and enjoyed the day off.  Of course, the market did move for just a little bit today, but on days like this—I like to find other ways to spend my time.

Looking at the Daily chart, we can see the market made a huge run to the downside last week but it still allowed for opportunities in both directions. Paying close attention to the MACDs, it told us that this move to the downside might be due for a bounce up.  Even though the price has pulled down significantly, the MACDs have come to a huge are of support and have come down with a weakness that has not allowed them to cross the bottom Bollinger band. Paying close attention to the MACD behavior has helped me to decipher through all of the noise and see what to anticipate with all the movement back and forth.  It’s a life saver for sure!

This leads us to another week starting out with long term direction down, with the potential to move up.  And as I closed out the video, the movement to the upside started to do its thing!  I always like to see it break through an area and pullback with that MACD strength behind it before I determine if its just a pullback or an actual run in the opposite direction.

Remember, if you’re looking to apply for the scholarship, the link is in the comments of the video and we’re accepting applications until the 16th of October.  We’ll announce the new scholarship students on the 25th!  It has been beautiful to get to know the applicants so far and I’m looking forward to seeing yours!

Have a fantastic week everyone and we’ll catch you around soon!

Stay connected with news and updates!

Join our mailing list to receive the latest news and updates from our team.
Don't worry, your information will not be shared.

We hate SPAM. We will never sell your information, for any reason.

Categories

All Categories day trading habits trading recaps

All content published and distributed by Responsible Day Trading and its affiliates (collectively, the “Company”) is to be treated as general information only. None of the information provided by the Company or contained here is intended (a) as investment advice, (b) as an offer or solicitation of an offer to buy or sell or (c) as a recommendation, endorsement or sponsorship of any security, company or fund. Testimonials appearing may not be representative of other clients or customers and is not a guarantee of future performance or success.

Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. This is neither a solicitation nor an offer to buy or sell futures, options or forex. Past performance is not necessarily indicative of future results.

CFTC Rules 4.41 - Hypothetical or Simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, because the trades have not actually 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.