Tuesday was quiet and mixed. And for the 1st time in a while the Odds Sheet showed a little color. Below is a look as it stood near the close.
The NASDAQ and Russell 2000 index securities all showed strong enough Average Odds that they met the Overnight Edges standard min criteria and appeared highlighted in green. ES is what I trade, and its Odds were not quite there. Casting further doubt on a possible long trade were a few bearish EdgeFinder studies. So with evidence not clearly favorable, I sat out.
As it turned out it did not matter much. ES opened this morning with a small gap up of 0.25 points. There were some aggressive NQ traders in the room that indicated they were planning to take NQ overnight. NQ did a little better, gapping up 2.25 points at the 9:30 open on Wednesday.
Traders considering a trade tonight need to keep in mind that the US will be closed tomorrow for Thanksgiving. With other markets open around the world, that adds a bit more risk to potential overnight trades. Good luck if you trade tonight, rest easy, and Happy Thanksgiving!
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