FUTURES TRADING - DOES THIS MATTER?
Futures trading on a day like this is not a lead pipe cinch. I am sure readers might be expecting a big political post but I am done after tonight. There will be no more political comments in here going forward. I may mention the PPT but they are not biased to a specific party. They are used by both sides equally.
I don't know of any consistent statistics to trade election nights and I see this as a short term mid range price action affair. I think the Naz has changed trend to down but the ES and Russell have not in terms of the big picture. That has nothing to do with short term trading for Wednesday. I do not see an edge here in either direction. Further, I don't see much in the way of high probability setups anywhere for tomorrow. I do think if the Bond market could break out on the upside from here it might get loose.
Other than that I don't have much. We had some large ranges today which messed up some things I was looking at for Wednesday.
I have shown something that some of you might want to study on your own. When you get volatility contractions you can trade the break outs of those situations. You can see where I have marked these instances on the chart and for the most part we got moves that followed in short order. Study this on your own and see what you can find. There are patterns here that do work.
We will pick it up again tomorrow