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 expected to be very light, and similar to yesterday, unexpected news or events can cause markets volatility to increase and wild momentum changes.
We want to watch momentum as the r20MA converges upward with the f200MA, on the 5-minute charts, and we carefully will watch for more evidence from Market Cycle Analysis Guide, with candlestick analysis, chart formations and the ES 5 Minute Complete Strategy.
With price action consolidating around the opening bell, and we are in the lower 1/3 of the prior day’s range with no strong weight-of-evidence, decided to sit-on-hands.
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