This chart was posted after the close. Today was a trading range day that had a failed breakout to a new low of the day and then a trend reversal up to a new high of the day. It tested the open of the week and created a doji candle on the weekly chart. Posted […]
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, June 26, 2014: sell vacuum test of yesterday’s low
Posted 7:34 am PST. I posted the chart below after the close. Yesterday ended always in short with the reversal down from the wedge top and the 3 consecutive bear bars. A trading range was likely after yesterday’s major trend reversal, but instead there was a strong bear breakout on the open that reversed up […]
Intraday market update, June 25, 2014: major trend reversal
Posted 7:45 am PST. Yesterday ended with consecutive sell climaxes in a tight channel, so 2/3 chance of a major trend reversal today with at least 20 bars and 2 legs up. The market had a lower low major trend reversal on the first bar and became always in long. After a reasonably strong 5 […]
Intraday market update, June 24, 2014: wedge top and trend reversal day
Posted after the close, but this is from the discussion in the chat room today. Today had a parabolic wedge top and trend reversal after an early rally off the 60 min 20 bar exponential moving average. The Emini became always in long on the second bar and then rallied strongly up to a parabolic […]
Intraday market update, June 23, 2014: Trading range day
Posted 9:23 am PST. Yesterday had a 3.5 point range, making it one of the smallest days of the past few years. It formed a sell signal on the daily chart for a final flag trend reversal. Like most trend reversals, the risk is small, but this means that the probability is small as well. […]
Intraday market update, June 20, 2014: opening reversal
Posted 9:06 am PST. The SPY paid dividends today, causing it to gap down, unlike the Emini, which gapped up to within a tick or so of the top of the channel on the weekly chart. Since today is a Friday, the market will look at magnets on the weekly chart at the end of […]
Intraday market update, June 19, 2014: Trading range day
I am still experimenting with how best to create an intraday update that is helpful to traders, but I need to do it in a way that will not interfere with my trading. Please be patient. 8:30 am, PST. Yesterday was a strong bull breakout so the odds favor some follow-through today. So far, it […]