Regular readers know I’m ultra-conservative with my trade setups.
In my opinion, there is no need to trade any more than necessary.
Get in… Get paid… And get out of the way!
The longer you’re in the market, the greater risk of something happening that you can’t control.
It’s just part of the deal…
But once you’ve committed, you’ve got to follow through.
Keep that in mind as you take a peek at today’s idea for the S&P 500, which just saw a weekly 1%+ confirmation.
Both the S&P 500 futures (ES) market and the SPDR S&P 500 ETF Trust (SPY) exchange-traded fund showed the confirmation of their charts.
Let’s take a look…
The Technical Setups
Here is the weekly chart of S&P Futures…
And here is the weekly chart of the SPDR S&P 500 ETF Trust (SPY)…
As you can see, price broke through their key areas of support on a weekly 1%+ confirmation basis.
I’ve identified stop loss areas above, along with my ideal targets below for these trade setups.
I personally trade from my confirmation to 1%+ short of my target and take my profit.
Then, I put my cash aside and await the next confirmation to enter the market again.
Get In, Get Paid, Get Out
Like I stated earlier, the longer you’re in the market, the more likely you are to experience something that’s an outside force that causes the market to make a knee-jerk reaction.
Perhaps you have the stomach for that?
But if you’re like me, you’ll take one low-risk, high-probability trade at a time, ring the register and await the next opportunity.
That, of course, is ultimately up to you, your trading style and your trade plan.
Now, if I was looking at the options market, I’d be looking at the SPY Sept. 16, 2022, $350 strike put option (SPY220916P00350000).
I’d like to not pay more than $13.00 per share, or $1,300 per contract.
Get Josh’s Take
My good friend and professional trader Josh Martinez uses a similar technical approach to the markets inside of his entry level futures trading service, Futures War Room.
Josh is one of the greatest futures traders I know. We often bounce ideas off of each other as we analyze the market.
He describes his futures trading strategy as possibly “the world’s most profitable side job”…
This strategy helped Josh turn an initial deposit investment of $500 into $39,282 in less than two years.
All you have to do is access a little-known portal in your brokerage account and start copying Josh’s strategy — step by step, and trade by trade.
It really is that simple.
Rules to Live By
“Any book that helps a child to form a habit of reading, to make reading one of his deep and continuing needs, is good for him.” Maya Angelou
Until next time, I wish you a beautiful and blessed day!
Yours In Trading Success,
Anthony Speciale Jr.