There is no "lucky" or "unlucky" in trading, there is only prepared or not prepared. Preparing take a lot of work, luck does not. Preparing brings profits, luck does not.
No time for live trading during the day while I am working on a project, but I was able to make some trades pre-market. I do not do that too often, but sometimes there are some good setups after 8:30 a.m. EDT. Anyway, I am done with my work for now and am looking forward to many hours of simulating trading, reading and preparing for next week's trades.
The S&P emini broke through 1,100 this week. That is pretty significant. It is acting a lot like it did when it tried to sustain support over 1,000, earlier this year. It would peak over, and then come back down and rotate below 1,000. It took about a week for it to sustain price over 1,000. I think that everyone expected 1,100, but I think that anything above that is suspect.
There are other financial metrics that typically move in sync with the major indexes. They have done so all year. They are not yet supporting this 1,100 level, so something is out of sync. Either they need to move up in a big way, or the DOW and S&P are over-valued and need to move down. The market always seems to find this balance and I would expect it to do it again.
Either way, it makes for some very good trading opportunities for the next few weeks.
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