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Soultrader

Top In Place??? Dow Futs Analysis

By Soultrader, in Market News & Analysis

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Soultrader    12

Soultrader
Posted

That 12000 is a key level. *hint*

 

What are the markets trying to do now? The YM is testing the trendline on the daily chart. This week will be a very critical week for the Dow.... a make or break time. Are we going to bounce off this trendline at 12000 or are we going to break it heading down towards the 11875 mark.

 

We had decent sellers coming in the past few trading sessions with 5th consecutive day in lower value placement. (see attached MP chart) Clear warning signal for the longs.

 

Will the longs be able to sit through this pullback? Theres definitely long liquidations throughout the past 5 trading sessions. Today will be a key day to watch market reaction to the current situation.

110606daily.jpg.d88639e9db24596bb74f7b1f39a96ff3.jpg

110606mpchart.jpg.c6ca013a7bc27d7fd5d5d2c5ae3959c5.jpg

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