The Globex futures are currently pointing to about a 6.5 point decline at the open with premium factored in.
Some type of ultra short term pull-back is certainly no surprise and actually will be a good litmus test as to exactly where the market stands over the very short term.
A fade of the lower open is always an option and perhaps with the short term model indicating a buy weakness mode may be just what the doctor ordered. Of course this decision will have to be made in real time, but it is always good to try and get a feel for where that first trade might come from.
I posted the Pivot Points for today last night, so keep those handy for the trading this morning.
I will also be posting the opening range for those of you who like to trade this high probability, short duration trade.
The activity early in the market is going to make a strong determination as to how long I trade today as I try and not get involved in dead markets much like we saw yesterday and the probability model leans just this way, towards a very slow session.
Good Luck To Everyone Today and Let's See What We Can Get Our Hands On!!
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