Ahead of Bullard's speech on mini Dow
This is a short term 60min Ichimoku chart of E-mini Dow M2 futures. You are seeing a decent slump followed by a massive rebound on May 13th, breaching above the Ichimoku cloud. The market remained resilient on May 16th Monday , where the ichimoku cloud switched its color (purple to green) as good supporting level implying further on upside.
I suspect however that the market will hedge it self lower ahead of many Fed officials speech on May 17th Tuesday, starting with Bullard at 8am Eastern time (21:00 TKY) and Powell at 2pm (3am 18th TKY). The market will once again test on the downside. Will see how solid this cloud is.
NK Radio
I suspect however that the market will hedge it self lower ahead of many Fed officials speech on May 17th Tuesday, starting with Bullard at 8am Eastern time (21:00 TKY) and Powell at 2pm (3am 18th TKY). The market will once again test on the downside. Will see how solid this cloud is.
NK Radio
Trade closed: target reached:
Pre-NY market had sent E-mini Dow futures higher ahead of Apr Retail sales, which turned out to be another stronger than expected numbers overall. Rising bond yields reversed upside momentum of E-mini Dow to bear trend, where the market is now heading towards the Ichimoku cloud below.