Stock futures came down to test their Friday overnight lows and all stayed above them. Cash indexes made nominal new lows below Friday, which did not reflect the panic low in pre-cash trading. In news-dominated markets the longer that the market can resist the news the more confident I am that it is basing. I1 peaks 3/25 at the close so there are 9 trading days for the market to stab upward.
I had a nice profit in NQ futures overnight but gave most of it back in a YM long on the selloff out of the triangle. I am currently holding 4% SSO.
The Euro had a 15-minute close > 139.56 and I covered my short at 139.65.
Here is the DJ nearest futures 50-day:
Here is the SP futures 30-minute M/A which will remain in sell mode until a 30-minute close .5% beyond it:
Steve
ReplyDeleteGot my feet wet on the long side near todays lows, go I1. Played a long small cap Japan ETF, (EWJ)at today lows also looking for a bounce.
Jack C