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Is the sell-off in the indices done or is it building up – Inside Futures

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Is the sell-off in the indices done or is it building up

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This broad-based currency weakness with China stealthy move on a gradual devaluation of the Yuan and vital currency pairs like the USD/JPY on a pull-back – what should you expect of the indices next week? Is this sell-off today done and are we likely to squeeze next week? What do you think? Sure, we always like to squeeze into resistance so that market makers get the fills they seek but are you prepared for next week. Here is what we see:

For the index futures – we present a table for where we are bearish in continuation of our playbooks that our subscribers received before 7 am today.

Instrument Level that we remain bearish below
ES 2851.50
YM 25506
NQ 7470
RTY 1700

While trading futures involves substantial risk, we analyze the markets for you in a whole different way. Visit us at www.tradeguidance.com and fill out a contact form. Our playbooks and trade levels deliver amazing results for our subscribers. Do you trade other instruments like WTI Crude or Comex Gold or the currencies? We cover them all and you will find our analysis fulfilling.

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About the author

Murali Sarma, Vice President of Business Integrations Inc., is an internationally known commodities analyst, author, trader and business consultant who has demystified commodity trading and introduced numerous futures trading strategies and indicators to traders – professional, non-professional and the novice trader – throughout the world. Murali began his trading career in the pre-dot-com bubble in 1998, electing to seek instruments to trade which had lesser volatility and offered more predictable analysis. From about 1999 to 2002, Murali traded out of the UK and moving to the US after that and working mostly independently with individual traders while learning from some of the best analysts and traders. While not being formally certified as a commodities trader, Murali preferred to hone in on his analysis and trading skills versus adding academically to his credentials. Murali believes that is isn’t about being right or wrong on your calls, it is about making money!

Murali has helped several traders become successful over the last 10+ years of active futures trading and has a strong following of traders who like to seek out opportunities in the futures markets on a daily basis versus following the old “buy & hold” investing adage. While not being opposed to switching hats and becoming an “investor” every so often with swing trades in the equities markets, Murali prefers to trade what he can see on charts using multiple timeframes and handcrafted indicators suited for all types of markets. Murali excels in trading sideways and choppy markets with a scalping style of being in-out of intraday markets when there is no defined trend, and on most other days prefers trading to his own computed target levels during the intraday timeframe, while following the trend.

In recent months, Murali has started a Twitter based alert service for intraday futures traders who like to trade commodities and index futures, and elected to blog post his daily analysis in commodities like WTI Crude & Gold and index future instruments like YM, NQ, ES & RTY. You may contact him via his email at info@tradeguidance.com