Nvidia In Focus; Where Does the S&P Go From Here?

Follow @MrTopStep on Twitter and please share if you find our work valuable.

Our View

I got long on Globex Monday night at 4408 and put in a 4442.50 offer as the futures were trading 4439 to 4440. This rally was sold before and after the opening.

I totally mismanaged the trade because I like selling gap-up opens and had I gotten out, I would have sold the gap-up but I didn't do that. One of my favorite trades is fading the gaps, but I was too preoccupied with the idea that ES was going up.

That said, I did end up profiting…letting a 32-point trade slip by was not what I wanted to see. I always screw up when I let my position dictate my thought process. I was long and so my head was thinking bullish instead of selling the gap-up like I should have.