The first thing I check in the morning is what is the Dow futures and Nasdaq futures are doing in the morning today. The futures will break or make your trade. I play in the direction of the futures. Because the futures are below 20% level on the StochRSI (over sold), it is too risky for puts. I am waiting for both futures to go up on the 1-hour charts before looking for a stock or call trade. It’s easier to trade stocks then calls in a bearish market. From 9:30 am to 10:30 am is called Amateur hour. I am looking to get into a new trade at 10:30 am or afterwards. Only when I do the sling shot trade, will I enter the market at 9:45 am or so. All my other trades I enter is after 10:30 am. The S&P 500 is composed of 500 companies and it is a week trend indicator of the general markets. I use the OEX as a trend indicator after the stock market open. The OEX has only 100 companies and it is an index and way more accurate than the S + P 500 futures, ticket symbol.
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Edited 7 time(s). Last edit at 09/01/2023 03:33PM by rttforumadmin.
