My apologies to long time subscribers of the blog; It’s been 9 months since I last posted a pre-market note on ES. The regular habit I’d built over several years slipped and before long a week off turned into total neglect. The knock on effect of this was unprepared trading and then no trading at all for some time. This key daily routine kept me in tune to the market and built contextual awareness day by day. Failure to keep that habit up has been detrimental, so time to get back to it again and make this year one of productive habits and process.
Accountability is a powerful thing, and this should create a positive feedback loop to produce better analysis, win-win. The key thing is to have done a thorough preparation to the trading day and review what was done at the end - the bookends, if you will, to the process in between.
Emails are the bane of most people’s digital life, so I don’t intend to send out an additional email at the end of the day. I’ll be adding a website notification option this week which should get round that issue. I’m also considering using a Slack channel for those interested, and/or a trade review. Please can you vote in this poll to give feedback on this.
With today being MLK Day and the cash markets closed, it’s a good opportunity to review the market. A look at the monthly, weekly, daily and daily cash hours charts below all paint a very similar picture. However, the cash chart also shows the many gaps left on this relentless, low volatility rally and bull trend.