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S&P (Day
Trade Set-up)
Excerpt From The DT Daily
Futures Report Dated:8/27/2010
Probable Net Trend for the Next Trading Day
Dual Time Frame Momentum: With the fast line of the (21) 60M DTosc in the OB zone, with the slow line slightly below the OB zone and the (34) 15M DTosc BullOB, a multi-hour high should be at or near completion.
Position: The rally off the Aug. 25 low has more corrective than impulsive characteristics.
Price: Today’s high is slightly above the 61.8% ret. zone of the Aug. 23-25 decline at 1063.75.
Time: Today’s high is slightly past the 100% ATP of the Aug. 25-26 rally.
Position Summary: With the fast line of the (21) 60M DTosc in the OB zone, with the slow line slightly below the OB zone, the bias is the net trend should be sideways to down on Monday.
ES Day Trade Strategy
Short following a decline below the 1059.00 minor swing low as long as the (34) 15M and (21) 60M DTosc’s are not BearOS or bullish.
Each issue of the DT Daily Futures Reports provides charts and commentaries for day and swing traders.
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