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.
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!
New to the Odds Sheets? Check out this video for a detailed explanation.
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