The U.S. index day trading session delivered some wonderful trades, and also an interesting lesson in the correlation between markets. In this case, it was the closely related indices of the Jones, the and the , as we traded the emini futures contracts of the YM, the ES and the NQ. Normally these three indices mirror one another relatively closely in terms of direction, but in this session, whilst the YM Emini was rising from the open, both the ES and the NQ sold off. An interesting divergence in sentiment and one that was key with the obvious question whether the YM was leading the others or lagging. Or perhaps vice versa?
What this session also delivered was a terrific reversal trade, initially, a strong move lower, followed by an equally strong move higher, and signaled using volume price analysis.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.