2024 SPY SPX day and swing trader thread
Discussion
Not sure if there is any interest in this, so if not I guess this thread will just drift off into the ether.
But I thought it might be interesting for people who day trade or swing trade to have a thread to discuss their ideas and plans? (not financial advice of course just their own personal ideas)
If there is enough interest I will try and update with the weekly events such as CPI, Fed Meetings, NFPR etc etc.
First couple of trading days of the year have been pretty sluggish for me and I probably wont be doing much for the next couple of weeks due to time zone differences being GMT -7 currently.
But once I am home will be online most evenings I expect. I appreciate there are massive discord groups these days but I never bothered with any of that.
Anyone interested?
But I thought it might be interesting for people who day trade or swing trade to have a thread to discuss their ideas and plans? (not financial advice of course just their own personal ideas)
If there is enough interest I will try and update with the weekly events such as CPI, Fed Meetings, NFPR etc etc.
First couple of trading days of the year have been pretty sluggish for me and I probably wont be doing much for the next couple of weeks due to time zone differences being GMT -7 currently.
But once I am home will be online most evenings I expect. I appreciate there are massive discord groups these days but I never bothered with any of that.
Anyone interested?
You had better get used to the time difference. 
Quite a lot has changed over the last year or so with respect to trading the S&P index.
The biggest change in the last trading year has been the huge growth in trading volume of the Zero days to expiration options (0DTE). Something like half of all option trades in the S&P are now 0DTE.
The point being you now more likely to see intraday trading ranges that "seek" out an options strike by the end of the trading day.
There is a notable difference if you analyse the price action for S&P returns during 2023 to prior years, when days ranges appear to influenced more by overnight sessions.
Good luck!
Quite a lot has changed over the last year or so with respect to trading the S&P index.
The biggest change in the last trading year has been the huge growth in trading volume of the Zero days to expiration options (0DTE). Something like half of all option trades in the S&P are now 0DTE.
The point being you now more likely to see intraday trading ranges that "seek" out an options strike by the end of the trading day.
There is a notable difference if you analyse the price action for S&P returns during 2023 to prior years, when days ranges appear to influenced more by overnight sessions.
Good luck!
Will be back in the UK soon enough... ewww.
Just my view but you should always trade whats in front of you. It does not matter whats driving the market (to an extent) so long as you are not doing stupid things and have a plan. Personally a daily opex is something that I like. It does open the door to a lot more manipulation though. You have to wait for the momentum, the bigger news the stuff the MM cant fight against. I guess the whole idea of this thread is to look at the bigger picture, the major news etc. I am defo not going into individual trades myself, if others wanted too then fine I guess. This is very just a hobby for me so the risk is low. In another year I might consider doing a bit more.
Just my view but you should always trade whats in front of you. It does not matter whats driving the market (to an extent) so long as you are not doing stupid things and have a plan. Personally a daily opex is something that I like. It does open the door to a lot more manipulation though. You have to wait for the momentum, the bigger news the stuff the MM cant fight against. I guess the whole idea of this thread is to look at the bigger picture, the major news etc. I am defo not going into individual trades myself, if others wanted too then fine I guess. This is very just a hobby for me so the risk is low. In another year I might consider doing a bit more.
Thursday January 11 2024 Actual Previous Consensus Forecast
01:30 PM
US
Core Inflation Rate MoM DEC 0.3% 0.2% 0.2%
01:30 PM
US
Core Inflation Rate YoY DEC 4% 3.8% 3.9%
01:30 PM
US
Inflation Rate MoM DEC 0.1% 0.2% 0.1%
01:30 PM
US
Inflation Rate YoY DEC 3.1% 3.2% 3.3%
Friday January 12 2024 Actual Previous Consensus Forecast
01:30 PM
US
PPI MoM DEC 0% 0.1% 0.1%
Earnings season starts this week with Banks starting on Friday.
Didn't reclaim 4700 but did break the channel late on Friday.
01:30 PM
US
Core Inflation Rate MoM DEC 0.3% 0.2% 0.2%
01:30 PM
US
Core Inflation Rate YoY DEC 4% 3.8% 3.9%
01:30 PM
US
Inflation Rate MoM DEC 0.1% 0.2% 0.1%
01:30 PM
US
Inflation Rate YoY DEC 3.1% 3.2% 3.3%
Friday January 12 2024 Actual Previous Consensus Forecast
01:30 PM
US
PPI MoM DEC 0% 0.1% 0.1%
Earnings season starts this week with Banks starting on Friday.
Didn't reclaim 4700 but did break the channel late on Friday.
@gotoPzero
Yesterday (04:27) Anyone got any ideas at the moment? I am not taking any trades right now.
Hi gotoPzero. Long...very long time lurker and thought I'd share my thoughts.
My trading strategy is to pick a defensive stock worth at least £50 GBP a share in any currency where the leading index is rising i.e. The Dow last year for example. I pick one stock and when it starts to look top heavy or people will start to take profit I monitor it until it starts dropping and wait till it bottoms out. When it rallies I check if it's early in the week, if the Index is rising and then take a position. I close when it starts to look a bit top-heavy or sluggish. I don't sell at a loss, ever, and I only ever buy one stock at a time.
I do have an advantage in that I spend six months of the year in the Middle East so four hours in front of UK opening. Helps me bat away any icky news or at least prepare for it. It works for me but I'm not financially qualified to recommend it.
Yesterday (04:27) Anyone got any ideas at the moment? I am not taking any trades right now.
Hi gotoPzero. Long...very long time lurker and thought I'd share my thoughts.
My trading strategy is to pick a defensive stock worth at least £50 GBP a share in any currency where the leading index is rising i.e. The Dow last year for example. I pick one stock and when it starts to look top heavy or people will start to take profit I monitor it until it starts dropping and wait till it bottoms out. When it rallies I check if it's early in the week, if the Index is rising and then take a position. I close when it starts to look a bit top-heavy or sluggish. I don't sell at a loss, ever, and I only ever buy one stock at a time.
I do have an advantage in that I spend six months of the year in the Middle East so four hours in front of UK opening. Helps me bat away any icky news or at least prepare for it. It works for me but I'm not financially qualified to recommend it.
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