Futures – Sideway, Bullish or Bearish
Everyday before the market open, most of the traders will have a pre-market checklist to go thru. For me, the first ones in my checklist is the Futures. It will give me some initial sentiment of the market when it open. I will look at the index Futures of all the main indexes which are DJIA, S&P 500, Nasdaq 100 and Russell 2000. One of my favorite free website which I can have one glance of all the futures I needed is Finviz.com – Futures under Futures. And what I like from this is the one glance of the futures of Indexes, Energy, Commodity and Currencies. From the futures, it will prepare me whether my focus on Go Long, Go Short or Do Nothing when the market open. Of course, to survive in this business we need to be Flexible as the direction of the market can change at anytime and we have to reverse our trades or strategy accordingly.