Upturn in Stochastics, MACD, Bounce from MA --> $540 profits
5 mins Emini Nasdaq 100 Chart
From Briefing.com:
New Claims Show Strong Labor Market:
New claims for unemployment rose to 321,000 for the week ended November 18 from 309,000 the week before. Claims have been very steady over the past half year, mostly in a 300,000 to 330,000 range. The four-week moving average now stands at 317,000. This uptick is not in itself statistically significant. The labor market remains very strong.
Hi,
Market gapped up slightly on strong new claims numbers... However, it plunged down for almost 30 minutes after that, closing the gap and beyond... I did not capture this move,,, however, I saw that price is poised for a rebound when it touches the moving averages with stochastics and my short-term MACD moving up from oversold region ( red circles above)....
I longed 1 contract at 1808 at 10:15,, and another 2 contracts at 1811 when price just went over the moving averages.... My price target was the high at 1822 established at the opening....
However, at 11:50, price action was getting increasingly weak and I decided to exit at 1819 with profits of $540.