Premarket Insight
Saw major selloff from the high of yesterday after lunch. Hoping this translate well into some momentum in the market today. Nothing interesting on the economic calendar that could give energy to the market. Logging in to my platform today, seeing the same low volume and not much movement on the chart. Let’s see how this unfolds between now and the open.
Volume relatively low across the board.
At the Bell
NQ went for a deep dive after 8am, strongly breaking the support and easily passing yesterday’s close. Caught a quick scalp off this move. NQ dropped more than 50 points in the premarket. Right before the open, price bounced off daily support. Volume didn’t climb much before the bell but could be a very interesting day…
COB Recap
RLT chatroom revealed premarket selloff more than likely due to today being expiration Friday for options. Makes sense and explains a lot because it was pretty much dead after that. Noting to keep track of third Friday of the month from now on (this is when all monthly options expire).
Over-managed first play after the open. Practically broke even for the day, red day if you include fees.
For the most part today, price was really choppy. However, due to the big move premarket, could have took scalps trading between the channel. I have noted this for next time and take some time this weekend to practice.
On a positive note, ended the week green a little over 1R. (click this link to learn what I mean by “R”)
Rob
Mv3 Trader
“Trade Consciously”
