An Inside day
In past 6 trading days SPY has open higher than the close. They are selling the up gaps.
And buying the down gaps, as happened on the only green day in the past 6 days.
Yesterday traced out an inside day. Usually trading in the direction of the break of an inside day pays off.
However, at present, ES futures are trading 22.50 handles lower promising a gap down open.
Not sure if they will gap and go or gap and fail.
Jobs report at 8:30 am can be a market mover.
Will wait till settles in the first 30 minutes before trading, if at all.
Support and SPY 300 holding steady.
And buying the down gaps, as happened on the only green day in the past 6 days.
Yesterday traced out an inside day. Usually trading in the direction of the break of an inside day pays off.
However, at present, ES futures are trading 22.50 handles lower promising a gap down open.
Not sure if they will gap and go or gap and fail.
Jobs report at 8:30 am can be a market mover.
Will wait till settles in the first 30 minutes before trading, if at all.
Support and SPY 300 holding steady.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.