"I read about a Monday Morning Bull Market Entry Technique. Do you know anything about something like that?"
I've run across a few in my many years of trading. Of course, the first step is to be certain that you are in a bull market. Once you know for sure, buy Monday's opening - risk half the range of the previous trading day; price objective is 80% of the three-week average weekly range.
If the previous week had a higher high; higher low; and close above the open, mid-range, and previous week's close, then use this strategy. This is even better on Monday with a lower opening that does not violate the previous day's low, since it should retrace back to the previous close a high percentage of the time. Monday's price action should ideally exceed Friday's or the last week's high. If this happens and Tuesday or any following day makes new intra-week lows, then a short-term reversal has occurred.
Watch to see if the new intra-week low closes below the previous intra-week low for confirmation. Tuesday is technically known as "the reversal day," so watch its afternoon price action carefully. Tuesday's relationship to Monday's range points to the direction of the remaining weekly range. Many technicians buy the S&P on early Monday morning weakness to sell a rally on Tuesday afternoon.
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