Tuesday premarket analysis
Tuesday premarket analysis 🧐 European stocks, open lower as momentum stalls. Oil prices rise on weak dollar. Expectations OPEC output cut. Gold hits 6 month high, as expectations on Fed rate pause. GDP numbers on Wednesday am, PCE (most important data this week IMO) on Thursday premarket. Yesterday tight range on SPY 1.41 pts from top to bottom. Light volume. China (Hang Seng) dropped another 1% - Real estate company’s continue to take a beating. (NIKKEI -0.12) (Shanghai + 0.23%) * CHANGE OF TRADING STRATEGY FOR ME. Given a more narrower trading range, I want to purchase ITM options, and look for quicker scalps, maybe 22-28% moves. Remember low volume days, more likely to see quick reversals, more likely to see larger spikes or dips, on stronger volume days, I like to follow momentum. (Making sure I have a solid entry & exit strategy) GL to all today.
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