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5dma Three Day Rule – Day Two

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Futures ran up quite a bit yesterday and it’s possible that the low on Thursday was a very significant low. I’d give the odds of that being the case at 45% here, and we should find out by the close on Wednesday where that is the case, or whether there are new lows coming.

The Russell 2000 has been leading the decline, so I’ll lead with the TF chart today which, as with ES, NQ and CL, is showing a fixed 60min sell signal. Short term we should see at least a retracement here, ideally from a decent AM high. TF Mar 60min chart:

160216 TF Mar 60min

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