The Rollover Gap Trade
Tomorrow is the official rollover day for the equity index futures and this one has quite the gap that makes for a nice trade setup. I’ll explain that and more in tonight’s mid week market update.
Tomorrow is the official rollover day for the equity index futures and this one has quite the gap that makes for a nice trade setup. I’ll explain that and more in tonight’s mid week market update.
Check this video to see why we looked long this morning with the objective of then selling higher before a potential rollover to close out Q4 ’22.
The SPX has been in a near freefall for several sessions, but this critical ratio is where it found support. We’ll start with this daily approach of support and consider where it may lead prices into the end of the week.
By all accounts we are on the brink of disaster… or are we?
The Dow 123 pattern is a classic, centuries-old pattern that I have been using for over 20 years. The chop on the daily timeframe is not telling us much but this pattern could be important if it completes and triggers.
Scanning the S&P and sectors for setups as well as why energy is where the trends are and an oversold crude oil market could be setting up a buy.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.