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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Overnight price action continued to remain strong near the prior day’s high, similar to the last 3 days. All the weight of evidence the last 3 days showed mini market cycle phase 2 uptrend with higher highs and higher lows based on a series of flag patterns. From a birds-eye view on the Daily and Hourly charts, price action is very close to retesting the all-time highs from late July 2017 & August 2017 consolidation area.
For ultra-aggressive traders, there were no good setups to focus on considering all the overlapping price action.
For traders focused on higher quality trading, the markets are extremely choppy so should have sit on hands.
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