Can you believe it's been a year already? It never ceases to amaze me how quickly time goes by. I started publishing my weekly trading thoughts a year ago, and I just wanted to take a moment to thank everyone for the support you've shown over the last year. I never could have imagined the growth we've seen at Traderade and it's all thanks to you. If you're new to Traderade, welcome to my Weekly Market Prep. Truthfully, I write this blog every Sunday for me, but I'm humbled to have so many faithful readers. This blog is a chance for me to gather my thoughts and prepare for the week ahead, focusing on areas where I'd be interested in engaging in the markets. My primary trading vehicle is the S&P500, so most of the charts you'll see in this write-up will be different timeframes and views of the S&P500 and my attempt to glean clues from the market to aid my trading. Some weeks the clues are obvious while other weeks I'm left scratching my head. As a trader, my goal is to stay on the right side of momentum. I am not a contrarian trader, I believe the markets are a twisted popularity contest and going against the herd is a painful way to trade (in my experience). There's a lot of different opinions about how to define "momentum trading," but I try to keep it as simple as possible. Essentially, momentum can be defined as present control...i.e. who is in control at this moment, buyers or sellers? One of my goals in this Weekly Market Prep is to identify at what level/point control has changed so I can adjust my bias and stay on the right side of momentum. Traders often refer to this concept as a "pivot." In my trading, there's always 3 pivots that I'm conscious of:
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