Tuesday saw the market sell off a bit. The moves were not strong enough to generate compelling overnight evidence though. Below is a look at the Odds Sheet as it stood near the bell.
The Odds Sheet was all-white – meaning none of the Averages met the Overnight Edges standard minimum criteria for a long or short trade. (If they did they would have been highlighted in green or orange.) An all-white Odds Sheet is generally a dead giveaway that I won’t be trading. And with the EdgeFinder blank there really was nothing to get me to attempt an overnight position.
That turned out to be a good thing. AAPL’s disappointment led to some overnight selling. On Wednesday ES gapped down 11.00 points while NQ gapped down a whopping 71.00 points.
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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