Friday saw moderate gains for the market and moderate numbers for the overnight. Below is a look at the Odds Sheet as it stood near the close.
An all-white Odds Sheet means that nothing met the Overnight Edges standard min criteria for a possible long or short trade. When that happens it is pretty much a sure thing that I will not be taking an overnight trade. It would take some extremely compelling evidence or unusual circumstances for me to do so. And there was no other compelling evidence that I saw. The EdgeFinder came up blank. I sat out as I indicated to subscribers that I would do.
Comments on Sunday by China’s central bank chief got futures markets excited and we saw a gap up on Monday morning. ES opened up 12.50 points and NQ opened up 24.25 points. Action could be strong today following the somewhat large overnight move. It will be interesting to see how that translates for edges as we approach the close today.
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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