Tuesday After Holiday Pattern for 7.5.22
This is an updated Tuesday Holiday Model (for Tuesdays following a three day weekend). This model averages in the most recent holiday data from Juneteenth (recognized June 20). The drops tend to fall at the exact algo sell zones - 10:30 AM, but the end of day drop tends to come earlier at 3:10.
Note that the chop zones on Tuesdays are typically very flat, and very severe eating away any profits you may be attempting to scalp. Chop Zones are typically from 1240 to 205 historically, but be mindful of the dangerous Tuesday chop, and use a momentum indicator to spot chops in case this zone shifts.
Happy Trading!
Note that the chop zones on Tuesdays are typically very flat, and very severe eating away any profits you may be attempting to scalp. Chop Zones are typically from 1240 to 205 historically, but be mindful of the dangerous Tuesday chop, and use a momentum indicator to spot chops in case this zone shifts.
Happy Trading!
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The typical Tuesday pattern is actually fairly flat. I believe that it is likely there is not a Tuesday Holiday effect afterall. I will need to compare this to other Tuesdays. Moreover, this is a Tuesday preceding a FOMC minutes publication on Wednesday, so an analysis of those Tuesdays may yield better insights. This pattern was a scrap.