$ES/$SPY OPEX RECAP.
OPEX is always an interesting session to trade and there are strategies I’ve ran in equities over my career that have done well.
What I’ve never done with futures strats on OPEX is trade too much.
Today was different.
Coming into today I had one play: short. Here is what I said in the recap last night for subscribers:
There is no bull case for tomorrow at all without a pullback. I know people that will say you can “buy gap ups” but without context it’s silly.
That $4220-$4233 area is a spot where this is going to sell off. I am shorting this if we get into there tomorrow.
Without a pullback to $4190-$4180 there is no reason to get long.
We sold off hard into $4191.50.
Mike who I personally mentored the last 5 months made a video recap on his trade with this info today here.
A great way to end the week.
With this breakout above $4160 the question becomes is this a fake-out breakout? Then, what is the plan going forward.
Below is the recap and my notes for SPY/ES for subscribers.