Discussion in 'Index Futures' started by myminitrading, May 15, 2006.
Someone has been working very hard putting together these nice chart formations.
The September 06 contract is not falling below the current month, this is bullish not bearish, the slide last week could be liquidation out of this contract. If the forward month was below the current month this would be extremely bearish.
I find this hard to belive that the Dow Mini is not rallying into the cash market close sitting at 11450 what is going on.
How disappointing, no show of buying interest, hum. Guess it will get juiced up after cash market close.
I know this inverse head and shoulder will get some bids. Come on boys hit that offer.
it has nothing to do with pretty formations
the dow sold off because Europe was diving at the same time.
it was mostly due to the commodity selloff in europe, combined with the dollar rumpusing on the Forex.
i bot at 11383 btw as mentioned in another thread.
among other things, big moves in indexes are often caused by margin calls and stops firing
many investors in european equities also invest in US equities e.g YM
basically, it is what we refer to as a sympathy selloff
there is no magical TA formation here. TA is merely a way to model trader actions
throw a DAX chart, a FTSE chart, and the same YM chart up that you just did
Inverse H&S pattern ready to go
I am going to bet that this chopping around down here 11220-11260 is accumulation, and we will see a reversal candle today on the daily chart and tomorrow we rally.
Scratch that reversal candle on the daily.
If this hold till the futures market closes I will hold long overnight. Reversal candle looking good right now.
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