Wednesday, March 7, 2018

ES1! Respected TA on market open

Futures had dropped > 1.3% overnight due to the resignation of a US cabinet member and political tension due to Trump's talk of trade wars. Markets opened in this environment. The futures had regained most of this ground before market open, but the overnighttrading session was volatile. I didn't place a real trade for fear mkt would not respect the technical analysis. But it turns out, in fact, that in situations like these where things are really up in the air, technical analysis becomes the driver. Is this because investors are sitting on the sidelines? I suppose the way to tell would be to look at today's volume compared to the average. In fact, this may have some predictive ability.


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