Nope, no trades today. Preserve capital and wait until the perfect moment, and then exploit it!
Anyway, a couple things that you may find useful.
There are two useful day trading tools called the "Pivot Technique", and "DeMark's Projected Ranges." They can give us clues to what tomorrow's potential support and resistance levels are, and what the high and low of the day may be.
Both of these methods are based on the trading range of the day before, but they are often right. Sometimes, they seem like self-fulfilling prophesies, since many floor traders are aware of these techniques. Regardless, it would not hurt for us to know.
Tonight, I am just going to do the projected high and low from the DeMark method for the S & P 500 ($SPX). Tomorrow night, we'll explore the pivot technique. Please note that this specific equation is only for when the yesterday's close was lower than yesterday's open.
Equations taken from New Trading Systems & Methods by Perry J. Kaufman
Yesterday's high=H= 1338.80
Yesterday's low=L= 1326.56
Yesterday's close=C= 1334.82
Tomorrow's Projected High= (H+C+(2*L))/2-L= 1336.81
Tomorrow's Projected Low= (H+C+(2*L))/2-H= 1324.57
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