The Dow futures (YM) finally hit the low end of its target area tonight at 10,900 while the S&P futures (ES) have pushed through the high end of their daily target range. The bulls have continued to push higher on moderate to low volumes. The Markets may take a bit of a breather this week as we head into earnings season next week so be cautious.
The bigger picture shows that both the YM and the ES monthly market structure lows have triggered long. The monthly target for the YM sits in the 11,160 – 11,200 area. Watch to see if the 13s trend line holds on any pullbacks down to the 10,790 area.
To Your Trading Success,
JM
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