20210701
Long 5 MNQ 14547.0, 14547.0, 14547.0, 14547.0, 14547.0, 14547.0, -5.25, -5.25, -5.25, -5.25, -5.25,
Long 5 MNQ 14545.75, 14545.75, 14545.75, 14545.75, 14545.75,+24.0, +24.0, +24.0, +24.0, +24.0,
Long 5 MNQ 14537.0, 14537.0, 14537.0, 14537.0, 14537.0, -5.25, -5.25, -5.25, -5.25, -5.25,
Long 5 MNQ 14533.75, 14533.75, 14533.75, 14533.75, 14533.75, +6.5, +6.5, +6.5, +6.5, +6.5,
Short 1 RTY 2321.8, -1.5
Short 1 RTY 2324.2, -0.6
Short 1 RTY 2326.2, -0.2
Long 1 RTY 2319.5, -1.5
Long 1 RTY 2318.5, -0.6
Long 1 RTY 2316.3, +4.5
Total MNQ +105.0
Total RTY +0.1
We can keep a reasonably tolerable view of all four of the major stock index futures contracts. The relationship between them often lends important trend and reversal information throughout the 1st frame. All this is complicated, however, by the inconsistency of the vice-a-versa action, the bifurcation in trend direction between these major market sectors.
This phenom is especially prevalent at market highs, where a frothy, rolling rotation continues to bubble up in sector alternation. The odd thing thing is, on challenging days in the action, as was today, precise signals can still show up in at least one of the four index contracts, and often remains consistent in its own world all morning.
But trading is emotional. There is a strong tendency to keep trying in the contract you are being stopped out of in the mistaken belief that these stop-outs may actually be teaching you something about impending trend with each stop-out along the way.
Instead, it is wiser to hone in on the contract lending consistency to its signalling and drop interest in the one you are being pulled into. The market is not there as a puzzle for you to figure out. That is the Analyst talking. You are the Trader. Your job is to execute.
For more on the mental minefield that is futures trading, read the short booklet True Self, available on line at Amazon.com.