E-mini Dow Jones Industrial Average (YM) Futures Analysis – July 14, 2017 Forecast

The low summer volume is helping to make unusual patterns in the stock market which is making it difficult to trade. All we have to go on at this time is the trend and momentum. The market is trading in spurts which may be one buyer taking advantage of the light trading activity.

This is making it very difficult to buy strength especially at current price levels. Furthermore, the daily September E-mini Dow Jones industrial Average chart indicates there is plenty of room to the downside, however, there isn’t an easily identifiable trigger point for an acceleration to the downside.

We could say “sell weakness” on a break under yesterday’s low at 21459, but this is only a low, it’s not a bottom, or an angle. It’s just a low. Selling under lows is a high risk move even if the next downside target is way down at 21379.

Since we are in a news driven market, the only way I’d be comfortable selling weakness under 21459 and buying strength over 21531, is if there is a surprise news event today. Otherwise, I’d just be chasing a thin market.

About 8 hours ago, President Trump promised that “Something could happen with respect to the Paris accords …”, so perhaps this news will shake up the market and add volume or volatility. Otherwise, look for a choppy, two-sided trade. We could see a big rally or a big break too, but this will all depend on the volume. I don’t trust a breakout unless there is volume supporting it.