The Dow appears to be replicating the price movements it exhibited before the market crashed in 2008.
This is what I am somewhat looking for and how I plan on trading the market. I don't know if it will play out like I imagine it but to me, this is what makes the most sense. In order for the next monster move higher, we are going to need to pull back a bit more. April 19th's low can not be the low yet. It just doesn't make any sense.
What a WILD week we had! Last week was insanely noisy between the FOMC on Wed, NASDAQ:AAPL earnings on Thursday, and NFP on Friday. This coming week of May 5th offers very little in the way of news catalysts, so it will be great for us TA based traders. So far, all of our weekly objectives have been playing out - and nothing has really changed from my perch...
YM just had a nice breakout and retest from a descending wedge/channel. Now it looks like it's flagging for another leg higher.
Short Term Elliott Wave View in Dow Futures (YM) suggests the Index ended wave (4) correction at 37473. The Index has now turned higher in wave (5). However, it still needs to break above the previous wave (3) peak on 4.1.2024 at 40358 to rule out a double correction. Up from wave (4), wave ((i)) ended at 38451 and pullback in wave ((ii)) ended at 382808. Wave...
Unlike ES and NQ, YM is not trading above it's respective highs which is $38,958 and barely closed in a premium indicating weakness. Sitting on my hands awaiting more information.
Introduction to Ratio Spreads on E-mini Dow Jones Futures In the dynamic world of options trading, Ratio Spreads stand out as a sophisticated strategy designed for traders looking to leverage market nuances to their advantage. Regular options on the E-mini Dow Jones Futures are a popular choice (YM). Defining the E-mini Dow Jones (YM) Futures Contract Before...
In comparison with ES and NQ, YM has been more disciplined in terms of following market order flow as there are few liquidity gaps present and the ones that are present (such as the one I outlined last week @ 38238 - 38150 was respected going into last weeks trading. I must note that Thursdays sell off through the newfound liquidity void has meant that smart...
YM1! (Mini Dow Jones Futures) has experienced a significant downtrend recently, prompting traders to seek insights into the reasons behind this decline. In this analysis, we will explore several factors contributing to YM1!'s downward movement. Technical Analysis: Bearish Trendline Break: YM1! has breached a key support level represented by a bearish trendline...
Now that NFP broke bullish above the last 4 hour pivot high, price is still in bullish push phase to reach the next higher high. Looking at somewhere in supply zone. I am looking for the next higher low pullback to be in the demand zone and above the last higher low made by FOMC. Of course, NFP could also just be a false break and will trade back inside that...
Last week we got the YM1! backtest that I wanted on the weekly. We rejected the weekly IRL and now I am looking to take out LOY on the Dow. Dropping to the h4 chart, we can clearly see the market is now primed to drop. I am looking for a sweep of highs to begin the weekly sell program. For those watching - we also got the 50% retrace of SPX on the...
I think the market is trying to rally a little bit and form the lower high and the right shoulder. I placed the 0.5 and 0.66 golden pocket as a general guide to where it COULD pullback to. That cluster I marked, to me, is a dead give away that is the market's objective and will take that out for a stop run. I have noticed that the past 12 NFP's have generally...
Current micro-primary count for YM1!. Working off premise of impulse wave down from 40358 to 37463, corrective double-three bounce off low with zigzag W, X, expanded flat Y. Count valid with price above 37866, with median line of pitchfork as target.
Waiting for Fed decision at 2 pm its looks like bull is rejecting and market will fall sharply
Nobody will ring a bell at the top. What a great selloff we had last week! I was expecting a pop higher for the sell but they just wanted to pull the rug on bulls early in the week it seems. Pretty much everything got monkey hammered. Indexes and Oil slid while gold held in (for now). The great news is we now have a directional market to trade again - these are...
I am looking at a repeat of the previous correction back in July 2023. Some key takeaways: Deathcross triggered April 4th Hourly 200sma is now in downtrend mode Currently in a bear flag consolidation to pullback into the declining 200sma Space under the low of the bear flag in relation to the prior pivot low A gap that needs to be filled at the start of the...
The weekly internal liquidity has been made with buyside resting at $38637 and sellside printed at $37463 but the overall week has been rangebound. We can clearly see that there has been a fight at the daily liquidity void with candle bodies rejecting that zone. 38344 Fridays high is my first point of interest with 38410* being target 2. Last week Thursday's...