I'm a much better morning trader than an afternoon trader. Maybe it is because I'm basically a morning person and more alert during that time of day. That's one of the reasons why I don't trade much in the afternoon, especially if I did well in the morning. Why give the casino back all your winnings when you are ahead?
This afternoon, however, the market tested yesterday's low around 1330 ET. After that, even though the $TICK was trying to trend up, the futures could not trade higher than the pivot high of 1310 ET, and just treaded water for over an hour. The bulls had to give up, and the market took a tumble in the last 45 minutes. Tomorrow we get the FOMC announcement.
Charles
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