Although yesterday’s blog post was about crude oil futures (read it here), I added a brief comment about yesterday’s Taylor Trading Technique signal for the EMini S&P futures, that they were on the Sell Short day of the TTT cycle. This meant today we would anticipate a TTT Buy day, and the result was a textbook Buy day rally today.
Yesterday, the TTT told us to anticipate a selloff and how we could short the market when we had confirmation of the selloff. The TTT posits that markets move in a repetitive action / reaction manner so the odds would favor a rally today.
Overnight trading can give you additional patterns for trade setups during the regular trading day, especially for markets like the stock index futures.
In this morning’s Swing Trader’s Insight watch list I reiterated last night’s call that the eMini S&P futures had a Taylor Trading Technique Sell Short day signal for today.