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Did you participate in the squeeze in the Eminis from last night


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Last evening well before the 6 pm open for Asian/European sessions of the index futures, we sent the following setup for our Emini S&P subscribers:

es-g-6619

The green color indicates that the previous sessions setups (i.e. the setups from the Day for yesterday), went from our suggested entries to and through profit targets. But we held this trade yesterday from exactly 1 point above i.e. 2839 and have taken profits two times today once at 2880 and another at 2885, for a 40+ point profitable trade. Today we were off to the races again and the pullback to the weak unemployment numbers merely drew a yawn from traders as they are now banking on a Fed rate cut in the next FOMC meeting here in on June 19th. With rate cuts then comes the speculation of QE and this market that was looking to sink, will likely find buyers despite a pullback here into the equity index roll in the third week of June.

We delivered similar setups for a variety of markets from yesterday for most of the Emini's Crude Oil, Gold, Silver and Bonds and a whole host of other commodities. Readers, this is not a promotional post. In our posting from yesterday we told you that we would likely remain in this uptick thru the unemployment news which we did. The market participants appear to have already baked in a rate reduction by the FOMC for June.

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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

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