Monthly S&P500 Emini futures candlestick chart:Strong bull trend, testing top of bull channel The monthly S&P500 Emini futures candlestick chart had its 3rd consecutive big bull trend bar in November. Furthermore, it has gone 12 months without falling below the low of the prior month. This is therefore a 13 bar bull micro channel. Since […]
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Trump rally continuing before tax reform vote and budget resolution
Emini breakout before Senate vote on Trump tax cut
Intraday market update: November 30, 2017
Emini breakout before Senate vote on Trump tax cut Updated 6:55 a.m. The Emini gapped to a new all-time high. Yet, the low of the day was the open of the 1st bar. That happens about 5 times a year, and in 4 of those times, the Emini usually trades below the low at some […]
Trump tax cut creating Emini wedge top breakout
Intraday market update: November 29, 2017
Trump tax cut creating Emini wedge top breakout Updated 6:55 a.m. The bulls got 2 bars of follow-through buying on the open, but the rally is a parabolic wedge. In addition, yesterday’s late trading range was late in a buy climax and therefore a possible final bull flag. While the bulls are getting follow-through buying, […]
Emini wedge rally before Senate Trump tax cut vote
Intraday market update: November 28, 2017
Emini wedge rally before Senate Trump tax cut vote Updated 6:50 a.m. Today gapped up to a new all-time high, but the 1st bar was a small doji. The past 3 days were small trading range days. Today’s 1st bar increases the chances for today to be another small trading range day. The 4th bar […]
Emini consecutive wedge tops before budget and tax cut votes
Intraday market update: November 27, 2017
Emini consecutive wedge tops before budget and tax cut votes Updated 6:49 a.m. The Emini broke above Friday’s high to another new all-time high. Yet, Friday was a small day. There is therefore an increased risk that today reversing down to below Friday’s low and forming an outside down day. That would trigger the sell […]
Trump corporate tax cut rally might stall with budget vote
Emini weekend update: November 25, 2017
Monthly S&P500 Emini futures candlestick chart:13 months without a pullback The monthly S&P500 Emini futures candlestick chart has not had a pullback in 13 months. With 4 days remaining in November, this month so far is a small bull bar. If it closes below its high, it would represent a loss of momentum after 2 […]
Trump corporate tax cut rally testing 2600 Big Round Number
Intraday market update: November 22, 2017
Trump corporate tax cut rally testing 2600 Big Round Number Updated 6:47 a.m. The Emini opened within yesterday’s 6 hour range. This increases the chances of a lot of trading range trading today. In addition, it reversed twice in the 1st 3 bars. This is more trading range trading, and it reduces the chances of […]
Trump corporate tax cut weak Emini rally continuing, despite buy climax
Intraday market update: November 21, 2017
Trump corporate tax cut weak Emini rally continuing, despite buy climax I will update around 6:44a.m. The Emini gapped up and began with a pair of strong bull bars. This makes a bear trend day unlikely. The odds now favor either a bull trend day or a 1 – 2 hour trading range. If there […]
Trump’s tax cut vote this week is catalyst
Intraday market update: November 20, 2017
Updated 6:44 a.m. The Emini opened in the middle of Friday’s tight trading range. Hence, today’s open is a continuation of that range. In addition, the 1st bar had a big tail below and therefore was a trading range bar. The 2nd bar was a bull inside bar and therefore a buy signal bar for […]
Trump’s tax cut vote is catalyst for 5% correction
Emini weekend update: November 18, 2017
Monthly S&P500 Emini futures candlestick chart:Trump’s tax cut vote is catalyst for 5% correction The monthly S&P500 Emini futures candlestick chart has a small bar so far this month. Every bar for the past 12 months has a low above the low of the prior bar. That is a 13 bar bull micro channel and […]
