YM trade update (DOW futures)
The end of month ramp up is over and looks like we have a decent swing top. The low volume breakout yesterday was a headfake. NQ could not move past 1555 and stay there. Bonds catching a nice bid on the weak PMI. Possibly lots of European money flowing to US treasuries as well. In any case, equities on the defensive.
YM has a gap to close at 10475 and weekly S1 is at 10465. Should be a magnet.
Open position: Short YM at 10552, stop 10572.
YM has a gap to close at 10475 and weekly S1 is at 10465. Should be a magnet.
Open position: Short YM at 10552, stop 10572.
This entry was posted
on Tuesday, May 31, 2005 at 6:55 AM.
