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Daily Analysis of DOW INDEX Futures
DOW FUTURES
** BULL TREND **
Technically the MKT is in a BULL TREND and flirting with a move into a more aggressive posture. As long as the MKT continues to hold structure, further gains should be expected. If the integrity of the previous session low remains intact, look for excuses to get long.
On the SELL side FADE strategies are valid at initial major resistance points but profit targets and risk management should be tight. The underlying trend is positive, and any negative reaction is short-term and a low probability of success. REVERSAL strategies should be applied only at the extremes after an exhaustive signal. Use BREAKOUT strategies as a signal to FADE a positive reaction against confirmed resistance. 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.
Note: The MKT is in a BULL TREND posture and if it is holding positive structure should be traded aggressively from the long side. Only until momentum is broken are the sell signals in play.
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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
