- The MKT has a firm tone and as long as the integrity of the previous session low remains intact, look for excuses to get long. On the SELL side UP FADE strategies are valid but profit targets and risk management should be tight. REVERSAL strategies should be applied only at the UP and +c after an exhaustive signal. Use DP BREAKOUT strategies as a signal to FADE a positive reaction against the DIR. Only until the MKT breaks the positive structure are sell signals an opportunity.
- On the BUY side BREAKOUT, FADE and REVERSAL are recommended as the MKT is bid and all buy signals are valid opportunity. If stopped out at or near the low tic of a reaction and the MKT is not following through to the downside, look to re-enter using the recent squeeze low as a stop. If the MKT breaks structure, de-leverage and be more selective as the likelihood of a sideways trade is high.
Today's PRICE MAP Performance for YM
- Today the R Level proved to be the key inflection point in the DOW FUTURES market. In a BULL TREND market state, our expectation is that any corrective sell off above the R Level is an opportunity to get long the market. The market sold off sharply in the overnight session and allowed traders to get long the market from the R Level with a BUY R FADE strategy at 5:30 am. The market rallied back into our Critical Range and eventually made it up to our DIR at 10 am, allowing traders to trade profits on the trade.
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