Trade ideas for index futures

Index futures squeezed higher into the Asian session and tagged a Fib measured move in the 3311 area finding sellers right around the European premarket. We've seen sell ticks prevail consistently. While the cumulative delta in the premarket is never really an accurate measure of anything as it is factoring only overnight inventory which has remain mixed owing to the squeeze higher from the settlement close yesterday from profit taking in shorts and continuing nicely past the Asian sessions. Today we have the bulk of the FAANGMN earnings after close and fall into the third consecutive day of selling which more than likely will unfurl in favor of the sellers.

The continuous spread of this virus has countries closing most non-essential services to the public and that does mean slower economic activity in all fronts overseas. Here is our interpretation of a measured move trade idea for the index futures which is unraveling as we put out this posting:

if-10-29-20

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