Futures Trading Room – Overnight Overview of April the 21st 2016
This is the alert I sent yesterday:
If SPY closes below 208,94 NO patterns will trigger.
Looking at the Odds Map, we can see a general bearish edge. Calendar seasonality is mildly bearish.
Markets is falling from highly overbought levels and reacting to some strong resistances.
I manage to find a rare pattern triggering just once. The day after it saw a down gap of 0,65%.
In a few words: 2 black candle with higher lows, the first of them saw an up gap, and today’s close i below 2 days ago low.
That’s why I will enter SHORT if I see today’s close below 208,94.
Stop loss = 26 Emini points
It was a boring flat night. I closed the trade with a 1 tick loss.