Trading Dow Futures: Aug. 15, 2016

8-15-16_0900_WP

$YM-Trading┬áThe Dow Jones Emini Futures┬ácontract for September ’16. At 3:55 am and then again at 4:05 am (CST) Slow Stochastics (5,3) crossed up below its 20 which began an approximate 1 hour consolidation. The market traded in a 5 point range during this time. At 4:40 and again at 5:00 Stochastics crosses up right around its 50. MACD (8,17,9) signals the beginning of this uptrend. Bollinger Bands move to their narrowest range on this chart at 5:20 beginning what would later be a wide expansion and market gain of 64 points to 18,619. The market peaked at 10:00 for a high for the day of 16,623. All three major indexes closed at record highs.