An unusual event on the US indices, and a great reversal trade
The US index day trading session delivered some wonderful trades, and also an interesting lesson in the correlation between markets. In this case, it was the closely related indices of the Dow Jones, the S&P 500 and the Nasdaq 100, as we traded the emini futures contracts of the YM, the ES and the NQ. Normally these three indices mirror one another relatively closely in terms of direction, but in this session, whilst the YM Emini was rising from the open, both the ES and the NQ sold off. An interesting divergence in sentiment and one that was key with the obvious question whether the YM was leading the others or lagging. Or perhaps vice versa?
What this session also delivered was a terrific reversal trade, initially, a strong move lower, followed by an equally strong move higher, and signaled using volume price analysis.
Source: https://www.annacoulling.com/stock-trader-tips/an-unusual-event-on-the-us-indices-and-a-great-reversal-trade/
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