#5 dma

The weakness from yesterday spilled over to the night session. The overnight high was 18187 and overnight low 18120. So, futures did find support at yesterday's morning lo at 18120.

The 5 DMA is at 18191.

The daily pivot is at 18187.

Remaining bearish below 18190.

No trade set up currently.

08:50 am: Going short when YM trades at 18118, two ticks below yesterday's low. 3 lot contracts. Close 2 contracts at 18108. For the 3rd contract, move S/L to breakeven after first two contracts filled. Instructions for 3rd contract close per market conditions.

http://www.investing.com/indices/us-30-futures-advanced-chart

10:40am: Sold all three contracts for 120 points gain for the day.

https://www.tradingview.com/e/zsvM4eP2/

Wrap-up:  Morning strong down move found support at 5WMA at 18014. Though too early to say, an outside week is forming on the weeklies.

Dow Futures consolidated nicely in a narrow 24 range.

Overnight Hi: 18253            Overnight Lo: 18229

The daily pivot is at 18213 and the 5 DMA support at 18194.

Set up 1: Between 8am to 9:30 m: Going long @18254, 1 tick above overnight high. Cover at 18274 for a 20 pts. move.

Set up 2 after 9:30am: Go long @ 18268, above yesterdays high.

8:45 am What worked: Going short below overnight low of 18229 to 18203 so far. Coming close to 5 DMA support, but market below DP now. Long when 18190 to DP @18213.

09:50: Long now at 5EMA 18190. Target 18210. S/L 18170.

10:19 am Took profit at 18210 for 20 points gain.

10:20 am: Going long when futures trade at 18241, above morning high. Trade good after 10:30.

11:08 am: The test of morning low happening right now. If bulls have to show up the time is now.

11:10 am: Lowering buy point to 18213 from 18241 for a 20 point move, if and when it happens.

11:43 am: Markets are in trouble as yesterday's breakout is now being fully reversed. All standing long orders cancelled as the weakness is spreading in all world indices, with Europe down about one percent.