After yesterday’s sell climax, the Emini reversed up strongly from a wedge bottom that formed just above last week’s low. End of day comments about today’s Emini price action and day trading The Wedge bottom was followed by a strong rally that tested a measured move up, and the Emini closed above the open of […]
Market Update Report for the S&P500 Emini (ES) and Forex (EURUSD) will be available to logged-in Brooks Trading Course members at about 6:20am US Pacific Time each day. The update will be available to everyone, including visitors, about 2 hours after market open.
Intraday market update, September 4, 2014: strong bull trend on the open
The S&P500 Emini rallied strongly on the open to a new high, but like all of the new highs over the past two weeks, there were enough sellers to turn the stock market back down. The rally was just a buy vacuum test of resistance (the new high and the top of the channel). The […]
Intraday market update, September 3, 2014: expanding triangle trend reversal
The S&P500 Emini sold off from the first bar with an expanding triangle trend reversal. End of day comments about today’s Emini price action and day trading The Emini sold off from the first bar of the day with an expanding triangle trend reversal, but then bounced up off of the 60 minute moving average […]
Intraday market update, September 2, 2014: bear trend reversal
The Emini reversed down on the open from above the all-time high, which was also the high of last week and last month. It reversed back up from just above yesterday’s low. End of day comments about today’s Emini price action and day trading The Emini is overbought on all time frames and can correct […]
Intraday market update, August 29, 2014: trading range price action
The S&P500 Emini had a strong bull trend reversal. After a long bear channel, the Emini retested its high going into the close. End of day comments about today’s Emini price action and day trading The S&P500 Emini reversed up in a parabolic wedge from last week’s high. It then formed a parabolic wedge top […]
Intraday market update, August 28, 2014: bull trend reversal
The S&P500 Emini gapped down on the daily chart, forming a 3 day island top. It then had a bull trend reversal up, turning the island top into a failed top. Day traders saw the price action as that of a broad bull channel. End of day comments about today’s Emini price action and day […]
Intraday market update, August 27, 2014: trading range price action for day traders
The S&P500 Emini was in a trading range today for online day traders, and it might get drawn down to test the July high by Friday’s close. End of day comments about today’s Emini price action and day trading The Emini today did what it has been doing for weeks, and spent most of the […]
Intraday market update, August 26, 2014: bull breakout above resistance
Like most days for the past several weeks, the S&P500 Emini’s price action today was that of a quiet trading range day. However, it broke above 2,000, which became a magnet for the rest of the day. There were few opportunities for online day trading, and beginner day traders had to be careful. Experienced traders […]
Intraday market update, August 25, 2014: gap up on the weekly chart
The S&P500 Emini’s price action today was that of a quiet trading range day. The Emini gapped above last week’s high and then tested into the gap in the middle of the day. The stock market then closed around the open, and created a doji candle on the daily Emini chart. End of day comments […]
Intraday market update, Friday, August 22, 2014: trading range price action
I posted this chart after the close. The S&P500 Emini had trading range price action from the open. There were two legged moves up and down all day. End of day comments about today’s Emini price action and day trading The S&P500 Emini sold off to the 60 minute moving average, which it has not […]