Trade of the Day – Using the Stock Index Futures Correlation Char…



directiontrader.com Trade of the Day

Today’s Trade of the Day came in the S&P emini futures market. I was monitoring the stock index futures and noticed that the mini DOW had made quite a drop and kind of left the other stock indexes. So when this happened, I said I would wait for the other three to start to roll over and join the mini DOW as it was falling.

This is exactly where the trade of the day took place. I shorted the emini S&P 500 futures market as it was falling to the downside. I used a Fibonacci retracement to short the es futures and took profits as the market was testing support.

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