Thursday, September 3, 2009
The NDX 100/QQQQ and NQ futures opened at the R1 pivot this morning, as seen on this 5min intraday chart, and came down to the S1 pivot for almost 20 points(see blue arrows). My favorite play is to short R1 on the open or buy S1 at the open(if price is there), for a quick trade. The best trades are in the morning from 8:30am est to 12:00 noon est., and then the market goes into chop for 2-3 hours. The last hour of the day, is when the professional money mangers come out to play.
Posted by Jeff York at 7:46 AM