US equities remain bullish despite virus fears

NQ daily chartConcerns over the Chinese coronavirus caused some nervous price action yesterday across the three sisters of the YM, ES, and NQ, following the buying of the previous day, with all giving up gains earlier in the session to close near the open. The daily chart for the NQ Emini is representative, with the candle closing with a wick to the upper body, and with good volume. Clearly some selling yesterday given the volume and price relationship, but perhaps not sufficient to result in a significant downturn in the short term. It is interesting to note the YM Emini opened gapped down overnight and looks the weakest of the three at present. However, both the ES and NQ look to be holding and recovering from yesterday’s blip with the longer term bullish trend remaining dominant still holding as denoted by the Trend Monitor indicator.

By Anna Coulling

Charts from Ninjatrader and indicators from Quantum Trading

About Anna 2016 Articles
Hi – my name is Anna Coulling and I am a full time currency, commodities and equities trader. I have been involved in both trading and investing for over fifteen years and have traded many different financial instruments, from options and futures to stocks and commodities. I write and publish articles ( mostly for free ) for UK and international publications on a wide variety of financial issues, and in particular I enjoy helping others learn how to invest and trade.

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