Premarket/End of Day/Overnight, Checklist

CHECKLIST

PREMARKET / END OF DAY / OVERNIGHT

1. Responsive/Initiating to (overnight / yesterday / multi-day)
2. Multiple day look back necessary?
3. Short Term Traders? (multi day assessment)
4. Long Term Traders? (multi day assessment)
5. World assessment (Asian, European, Americas)

[POSITION / STATIC REFERENCES] 
(short term & day time frame)

1. Start with shortest term. (Likely to have stops nearby)
2. Location to Settle
3. Pit High & Overnight High References
4. Pit Low & Overnight Low References
5. Prominent POC(s) 
6. Prominent Anomalies
7. Pullback Low/Rally High (trending days only) Other structural references, if any
8. Excess / Spikes
9. Prior Day Features (Pullbacks, high, lows, VA, POC, etc)
10. Supply/Demand Zones
11. Location of Overnight excess
12. Long Term Chart Features
13. Target where German would want to close (Globex high/low/POC current & up to 2 days prior)
14. Target where London would want to close (Globex high/low/POC current & up to 2 days prior)
15. So close together, possible firecracker effect

If Range Extension > 2x Initial Balance Range, 
    Then Day_Type = Trend_Day

and Control = LONG_TERM
and Confidence = HIGH
and Trend will have one rebalance catchup before proceeding
and do not FADE until late in day

If Range Extension <= 2x Initial Balance Range,
Then Day_Type = Normal_Variation_Day
and Control = LONG_TERM

If Range Extension on both side,
Then Day_Type = Neutral_Day
and Control = SHORT_TERM
and Confidence = WEAK

If Range is approximately the same as INITIAL BALANCE,
Then Day_Type = Normal
and Control = SHORT_TERM
and Confidence = WEAK


Depending on Short/Long Term Traders & Neutral/Trend Days:

• Trade near volume (to reduce risk)
• Look at charts for Positions to trade and Signals to enter
• Reduce the risk of price discovery
• TARGET (HIGHER/LOWER) S/R LEVELS

[DYNAMIC REFERENCES]

• SMA Form (Confluence, Concavity, Slope, Respect)

[VOLUME]

[OVERNIGHT INVENTORY]  from yesterday’s SETTLE:

___ Long ___ Short ___ Neutral Approximately 65%

• Assess counter auction relative to overnight inventory to rebalance. 
• Extenuating circumstances:

ARE WE GOING TO OPEN IN OR OUT OF BALANCE AND TO WHAT DEGREE?
        ___ In        ___ Out        ___ Near extreme of balance

• Extreme gap low? Either gap & go, or sharp short covering rally or profit taking gap close
• Extreme gap high? Either gap & go, or sharp liquidation rally or profit taking gap close
• If we can’t close the gap, then the market is strong, gap & go is very likely (bigger opportunity)
• In Balance Rules
• Trend Rules
• Spike Rules

[DIRECTIONAL PREFERENCE]

• Trend and then Range
• Trade in the direction of new volume which is self generating
• Runaway / Excess / Spikes
• Has one time framing failed?  Watch out tomorrow!
• Rotation / One day reversal / Key reversal Day - Target destination at other end of range
• Momentum Day (all day in one directional, watch for afternoon continuation)
• Gap breakouts of intraday chart patterns tend to move in the direction of the breakout.
• Lower closes & lower lows project the probability of lower prices 85 to 88% of the time. This trend usually lasts for three to eight days before reversing.

[Market Mood]

• Congestion areas with overlap is indication the market is getting tired. (prepare for breakout)
• Does the market need to rally before it breaks?
• Recent short covering? Then weakened market cuz buying power has been removed.
• Short Term Money vs. Long Term Money

[SITUATIONAL AWARENESS - TIME PERMITTING]