The market is moving lower as we approach the open on options expiration day. Here is what has happened historically when gapping down on opex.
Day - Friday
Opening Gap Direction - Down
Market Status - A low opening and moving lower
Instrument - ES, RTY, NQ, YM
Trading SetUp - Time Based Entry
Market Trend - Pressure to maintain recent highs
Trade Type - Long
Entry - 9:30 am ET (Market Open)
Exit - 4:15 pm ET (Market Close)
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