The stock market traded lower Monday, but well off its lows, in quiet trading on Monday. I really like the set up I see on the charts, as most of the major averages appear to be gearing up for an upside breakout. Tuesday is a seasonally favored trading day, as it is the last full trading day before the Christmas holiday. With this in mind, an opening range breakout daytrading strategy should catch a nice pop to the upside. If you trade stock index futures, consider either the E-Mini S&P 500 or E-Mini ND100. Make sure the tape indicators are positive before taking any trades.
In regard to individual stocks, look for stocks that have similar patterns compared to the major indices for nice potential day trades on Tuesday.
Scott Cole
www.bestdaytradingstocks.com
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