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E-mini Dow Futures | TriangleMarkets have been pushing to new highs despite ongoing trade issues and technology firm earnings concerns. In a strong bull market, all boats float with the tide. Stocks and bonds will move up in anticipation of a positive outlook. A healthy market also has meaningful corrections based on business cycles and fed policy decisions. Given the long run in equities, it makes sense to start to look for technical signals and possible exhaustion points for the major indexes.
CBOT_MINI:YM1!
by hustontrading
2
US Markets are throwing out some very bullish signalsWhile I am personally trading the SPY due to it's great stock and options liquidity there have been a number of great bullish signals being through in multiple index and futures markets. Today I focus on the NASDAQ 100 futures and point out a nice inside bar/2 bar reversal pattern that as already broken out to the upside as well as an inside bar/ false break pattern that is currently forming in the daily. I will be watching where the markets are going into the close but a pinbar does end up forming on the /YM futures I believe that could set us up for our next bullish move. As always with price action, price must break out of the pattern before it is confirmed. In the case of the inside bar/ false break pattern, if we do end the day with that pattern then a breakout of the inside bar pattern would still need to occur for this new signal to be trad-able. Those who jump in early to make a few extra bucks are doing so at the risk of a far less probably trade. When the patterns do break out the probably of success goes way up.
CME_MINI:NQM2018Long
by krugman87
1
ES - Inside bar pattern breakout trade!An inside bar has formed on a number of charts including the /ES, /YM, XLF -0.42% and others. These are all following a strong trend which signals that the market is taking a short breather. Generally in periods of price consolidation after a long move we want to look for opportunities to get in the market on the next up move. In these cases we would be looking to enter the trade on an upside break of the inside bar pattern (2731). A stop loss can be placed at 2700 for an attractive risk/reward setup.
CME_MINI:ESM2018Long
by krugman87
YM - Inside bar formation potential bullish setupAn inside bar has formed on the Dow Jones after a strong up move over the past week. This price consolidation represents the market take a breather (taking profits) and a break of the high of the inside bar pattern generally triggers the next up move. A break of the high of the pattern (24,800) will validate the pattern and trigger a potential long setup. A stop loss just below the low of the inside bar is generally used (24,629). If price breaks below the inside bar and holds then the pattern will be invalidated.
CBOT_MINI:YMM2018Long
by krugman87
DJI - Inside Bar formation waiting for bullish breakoutAn inside bar has formed on the Dow Jones after a strong up move over the past week. This price consolidation represents the market take a breather (taking profits) and a break of the high of the inside bar pattern generally triggers the next up move. A break of the high of the pattern (24,800) will validate the pattern and trigger a potential long setup. A stop loss just below the low of the inside bar is generally used (24,629). If price breaks below the inside bar and holds then the pattern will be invalidated.
DJ:DJILong
by krugman87
NQ Broadening TopThe NQ is making a broadening top pattern. This is not a bearish or bullish pattern, since it trends upward 49.6% of the time and downward 50.3% of time. It has a nice look, where price was trending upward 6 months leading into the pattern, with downward sloping volume. To pick a top in this market is dangerous, with the low volume grind. I am looking for clear resistance at the top TL, where the previous days low is violated on a strong daily close. However, I believe the markets could try to close towards highs leading into Trump´s inauguration, with price at highs or near them. After that it´s anyones guess. This is also the week before opex, so we could see a Thursday / Friday low? All bs at the moment. However, if next week is like all the other days in the election cycle for Trump, I would not be surprised if next week is an upside bias week. Notes on chart Go to bulkowski for good information on broadening tops at thepatternsite dot com
CME_MINI:NQ1!
by elp
5