Daily Commentary: January 02, 2025

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A Fresh New Start

Posted by Pete Stolcers on January 02
www.oneoption.com

Be patient and wait for your set-ups. Build on your success.

PRE-OPEN MARKET COMMENTS THURSDAY – The first trading day of the year is going to start off with a bang and the futures are up. Be patient and make the first trade of the year a winner. Now you have a 100% win rate. Don’t do anything to jeopardize it and keep the streak going as long as you can. That is how you start the year off on a good note. Before you know it, you will have a full head of steam.

Global markets were mixed. China was down 2% and their manufacturing PMI was weak. Europe was mixed.

The futures have backed off considerably from the overnight high so I would not trust this gap up. We know that gap reversals present a better risk/reward than gap and go’s. Let’s see what the day brings.

The range from Tuesday is support and resistance. We need some volume!

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