Homework and Trade Sheet for Wednesday May 8

SP tested major support level, top of prior trading range.  New  momentum lows on 2 per ROC in all indexes.  This means damage done – should consolidate to intraday EMAs and then form a retest or higher or lower  low over the next few days.

Dax – Buy Day Scalp Only.   (Day after 2 PF3 down, but new  mo mo  lows o n2 per  ROC.   Trade from long side but dont hold overnight.   Same approach should apply to SPs.  Market closed well off its lows and so wait to buy a higher low.  Action has already pulled back in the overnight session.

NG – Weekly Buy DIV, Daily Buy too – trade from long side

GC – 1290.9 was initial target.  This is now the over and under.

Bunds – new  mo mo  hgihs on  2 per ROC,  Tens  =  ID

CL =  OD/ID coil

EC – OD/ID coil