day trading preparation

-review yesterdays profile
-review the overnight market
-compare the expected opening to yesterday's range, value area
-relative to the expected opening, identify 3 reference points


weekly high
previous days' high
top of previous day's value area
high of recent trading range
------------expected opening price ---------------
low of recent trading range
bottom of previous days value area
previous day's low
weekly low

####after opening######

-Note what kinda opening is occuring, and what I'd want to see in order to quickly judge the resulting directional confidence

-Note whether or not there is clear attempted direction, and whether that actitivity is supported by volume

-Does the market appear to be within balance or out of balance?


-visualize the remainder of the day. Will it look elongated, squat, fairly normal like a bell-shaped curve. Note any unusual shapes or patterns that may suggest somthing unexpected is happening


-estimate how much effort is being used to move price directionally, and note what that suggests about the inventory conditions of your competitors---too long, too short, above water, below water...

-flat in front of significant new announcement