THE EVENING SESSION
TUESDAY 31ST OCTOBER 2023
Thanks for being part of the community. A reminder that my mission with this premium publication is to democratise financial data and give retail Day Traders another tool in their trading arsenal to compete with larger more sophisticated players. Your contribution is being invested in tools to further increase our '‘Edge’ in the future.
UK100 PREVIEW
Summary
Historically downside is limited following a large fall in the FTSE, followed by a recovery next day. 94% of these days have finished first session > 15pts below previous day close. FTSE closed at 7327 yesterday so this would equate to ~7312.
Note a great deal to be gleaned off end of month distributions. Looking at the top 5 falls, suggest any major falls off the table if rallies >12pts from open.
SPX PREVIEW
Summary
Falling into Euro open on month end not generally bullish for S&P end of day moves. If looking short, data suggests no rush as potential for move up from Euro open before falls. If looking long, per the 3 day price action data this morning, I would need to see a bottom before SPX premarket open.
Remember, this information can form part of your trading edge, but is useless without discipline.
Stay Sharp, Stay Profitable.
Cheers Marto