A couple of weeks back I posted an entry in this blog that I was declaring success in my daytrading of the E-mini S&P 500 futures.
And then suddenly, the style that was giving so much success, quit being successful.
So I pulled my trading logs, and reviewed the last year, and noted something that I feel is important for me: I start losing at market turns. In other words, during an uptrend, and during a downtrend, I consistently make money. But at the point where the market is turning, I consistently lose money.
One way to look at this, is I have a tool that says the market is turning!
And, assuming this insight is correct, then it is saying we are having a market turn right now, starting with Monday June 4 2012. That day was the last day, that I made money all day long, on every trade. Every day since then, Tue - Fri, I lost. And it was the first loosing week in a month.
It doesn't say for how long it will be heading up, just that it is turning!
UPDATE: Investors.com (Investor's Business Daily), on Friday June 15th, said the market changed to an uptrend. Here's my new post on this.