Dow Jones-ing For A Reversal
Dow futures
(
DJU1 |
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PowerRating) gave two compelling signals that they could turn
around from their recent sell off. First, the contract registered a
Turtle Soup Plus One Buy signal. This morning Dow futures sold off but
provided an entry opportunity at yesterday’s low or at the TS+1 trigger, the
July 25 low at 10225.
The second signal that Dow futures could reverse was their collective
three up signals from the Market
Bias Indicators Page. Dow futures have now turned positive and are trading
on their highs of the session.
After large run-ups yesterday,
euro FX futures
(
ECU1 |
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PowerRating) and
Swiss francs
(
SFU1 |
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News |
PowerRating), both from the Momentum-5
List, have provided some scalp entries, but are trading near opening levels
as they solidify recent gains.
T-bonds
(
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Chart |
News |
PowerRating) also indicated a potential reversal and are making
good on their Turtle Soup Plus One
Sell
reversal below the July 31 104 5/32 trigger.