Overnight Overview 8/31/15

Friday made for an interesting decision for me with regards to the overnight trade. Below is a look at the Odds Sheet as it stood near the close.

2015-08-31 image1

As you can see, ES met the Overnight Edges standard min criteria for a long trade and had its Averages highlighted in green. But it was all alone. None of the other index securities confirmed and none of the stats on the roll-up at the top of the page confirmed either. Additionally, the EdgeFinder came up blank, and I could find no other confirming evidence of a strong bullish overnight edge. So I elected to pass on a trade.

As it turned out, that was a good decision. ES had a rough night and gapped down 16.25 points to open the day on Monday.

Good luck if you trade tonight, and rest easy!

 

 

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