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Do Not Forget This: There Are 3 Parts to the Trading Day
Here's what they are.
Danny Riley
June 04, 2024
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Clearly my rule about the three parts to the trading day were front and center on Monday. As a refresher (with yesterday’s action in parenthesis):
What happens on Globex (rally)
What happens after the 9:30 open (selloff)
What happens in the last hour (the hour of power, straight up).
But that's not all. The ES held perfectly at the 5256.50 50% retracement from Friday’s range and last but not least, the funds put money to work on the last trading day of May and clearly, on the first trading day of June too.