This commentary will focus on the first 60-90 minutes after the Opening Bell. However, our strategies can and will provide setups the entire trading day.
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Pre-market Economic news and reports…
Overnight price action continues to repeat the pattern of consolidated in the prior day’s range near the middle of the range. Pre-Market price action started showing evidence of lower highs and lower lows on the 1-minute charts with price action slightly below the 20-MA. After the opening bell, markets continued to be choppy oscillating around the opening bell with very little momentum and movement. Decided to sit on hands.
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