Dow Jones (YMZ2024) - King Of The Hill Run Out Of Steam?

8 ott

Once the top doug but not suffering to the fate of rangebound price action, violating daily highs and lows but not really going anywhere.

You know what this means right...?

The market's being held for an event that will create a plausible reason to reprice Dow Jones either higher or lower.

My moneys on sellside, especially if we continue to see risk off conditions for the Dollar Index

9 ott

Nota

So YM has not only swept daily lows out but relative equal lows, whilst maintaining price above $42,206, Buy stops was kept in tact.

NQ has repriced higher, clearing not only sell stops (failing relative equal lows @ $19,818) but buy stops yesterday, and closing above also indicating strength

ES has failed to run on relative equal lows and also failed to run on daily highs.

Conditions like this call for high resistance liquidity runs.

YM would be in the lead if the index futures was to sell-off

10 ott

Nota

Took some time for YM to rally yesterday but we ended up, just like NQ and ES, above the previous days high.
Looking for break in market structures to the downside to initiate high probability short set-ups for ES.
If the rally continues, i will be sitting this one out.

11 ott

Nota

27th September 2024 previous all-time highs created a massive wick to the upside and the CE of the high and open is an important price; $42,831.
Wednesday and Thursday failed to close above, indicating weakness to the upside.

42,641 is a point of interest as well as yesterdays low @ $42,587