Recap: Although we sometimes try to be open to any price movement, its prudent during the pre-market analysis to determine potential key pivot points determined due to prior price action. This as opposed to published pivot points, gaps, or important support or resistance levels. The ES/1097 level was a pivotal area in the prior days trading as well as high volume area throughout the month. Pre-market notes indicated an executed buy at this level regardless of economic news that may push price to this level. Sometimes the trading gods cooperate with this thinking, resulting in one of the best trading days year-to-date. We'll see if we can ride this wave further as we start the new month on Monday. Good weekend all.
(options plays not included)
09:38 S 1101.50 +1.50
10:06 L 1097.50 +6.75
11:15 L 1103.50 +1.50
14:16 L 1103.50 +2.00
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