Dow Futuresl, YMH5, Mar 13 Set-up08:17am: 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 increase interest rate in Jun, for the first time since 2006, a big game changer for the markets.
Set-up: Short YMH5 below overnight low of 19822 with three contracts, with stops at 19842. If the market moves lower, cover two contracts at 19802. Move S/L to breakeven for this last contract, and use a 20 points trailing stop to close contract.
For instructional purposes only.
