08:20am: Not much change in commentary from yesterday. Today Fed is expected to remove the "patience" from its interest rate policy statement. If so, markets will expect a rate hike in Jun Fed meeting. This is likely to put pressure on the markets in the intermediate term as the expected rate hike, the first since 2006, will be perceived as a game changer. If...
08:45am: This week will be eventful. Fed is expected to remove the "patience" from its interest rate policy statement. If so, markets will expect a rate hike in Jun Fed meeting. This is likely to put pressure on the markets in the intermediate term as the expected rate hike, the first since 2006, will be perceived as a game changer. If the above unfolds, USD can...
08:00 am: This week will be eventful. Fed is expected to remove the "patience" from its interest rate policy statement. If so, markets will expect a rate hike in Jun Fed meeting. This is likely to put pressure on the markets in the intermediate term as the expected rate hike, the first since 2006, will be perceived as a game changer. If the above unfolds, USD...
11:00am: Market making a round trip and wiping out gains from yesterday.
08:17am: After yesterday’s massive short covering rally, the Dow futures are giving up some gains in the early morning trades. YMH5 is trading at 17836, 30 points lower than yesterday’s close. USD is again strengthening and may further strengthen if the 8:30 am data release is perceived to further support US economy strength. This will put pressure on the Fed to...
Set-up for Mar 11 YMH5 futures traced a range expansion day on Mar 10. YMH5 is being controlled by an outside week bar last week. . Expecting continued weakness today especially if the 1st hour low is taken out. In the intermediate term support is at the weekly uptrend line at around 17500. Overnight markets were bouncing with low at 17669 and high at 17733....
YMH5 futures traced an inside day on Mar 09. YMH5 is being controlled by an outside week bar last week. . Expecting continued weakness with support coming at the uptrend support line at around 17500 in the intermediate term. Overnight markets were weak and at present YM is off about 115 points from yesterdays close to 17855. Sh0rt below yesterday's low at...
Set-up for Mar 09: YMH5 futures traced wide range day on Fri, Mar 06. Expecting continued weakness in the early going on the open on Mar 09. Daily PIvot at 17942 and 5 DMA at 18038 will be the initial resistance on any bounce. If 1st hr. hi is exceeded shorts should be closed. For instructional purposes only.
This simple set up from yesterday's commentary gained more than 80 points per contract.
Wrap-up: Morning strong down move found support at 5WMA at 18014. Though too early to say, an outside week is forming on the weeklies.