ES Futures Day Trading Recap Thursday February 22, 2024 The ES gapped higher and never looked back, marking today as a 'gap and go' day. Positive earnings from Nvidia last night, surging approximately 12% from the start, also benefited various chip companies and other entities associated with AI technology. This led to an enthusiastic surge in the market by mid-morning, with the S&P up nearly 2% and the Nasdaq gaining over 2.5%. After a brief pause, upward momentum resumed, and the day concluded with the Nasdaq up by almost 3%.
Tomorrow, we anticipate downward pressure in the ES. Notice that the oscillator is showing negative divergence, indicating fewer buyers as the market continues to rise. We will wait for a sell alert from our momentum indicator to give us an entry for a short position. We always require two or more factors before entering a trade.
Knowing when and what directions is the key to a profitable trader. Remember, if you miss a trade, there will always be another opportunity. Stop obsessing over your losses. Avoid constantly checking the chart after you've sold. Resist fixating on potential profits based on 'what ifs.' Instead, recalibrate, refocus, and move on. Come join us for free Live Day Trading in Discord For Free Invite Link: https://discord.gg/7xz9WQFK
