House and Senate voting on Trump’s tax cut bill Updated 6:46 a.m. After yesterday’s strong rally, today continued the endless pullback. It began with doji bars just above the 60 minute 20 bar EMA, and around a 50% pullback. Because the selloff from yesterday’s high was in a tight bear channel, the 1st reversal up […]
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House and Senate voting on Trump’s tax cut bill
Emini buy climax pausing before Trump’s tax cut vote
Intraday market update: November 16, 2017
Emini buy climax pausing before Trump’s tax cut vote Uppdated 6:48 a.m. The bulls gapped above yesterday’s high and the 60 minute 20 bar EMA, but the 2nd bar was a strong bear bar. This is consistent with all of the reversals over the past 3 weeks. In addition, it lowers the chances of a […]
Emini tight trading range before budget and tax cut votes
Intraday market update: November 15, 2017
Emini tight trading range before budget and tax cut votes Updated 6:48 a.m. The 1st 2 bars were big bear bars closing on their lows. Furthermore, by breaking below last week’s low, the selloff triggered a sell signal on the weekly chart. The odds favor a bear trend day. However, there could be a deep […]
Emini awaiting Trump’s tax reform vote and budget deal
Intraday market update: November 14, 2017
Emini awaiting Trump’s tax reform vote and budget deal Updated 6:47 a.m. After a big gap down, today reversed up from the below yesterday’s low and the 20 day EMA. Yet, the buy signal bar was a doji, which is a one bar trading range. In addition, it had a bear body. While this has […]
Emini test of wedge top before Trump tax reform vote
Intraday market update: November 13, 2017
Emini test of wedge top before Trump tax reform vote Updated 6:44 a.m. The Emini gapped below Friday’s low, but the 1st 2 bars were bull bars. This is a small Big Down, Big Up pattern, and it makes an early trading range likely. The bulls want a failed breakout below yesterday’s low. If there […]
Emini wedge top before Trump’s tax reform and budget votes
Emini weekend update: November 11, 2017
Monthly S&P500 Emini futures candlestick chart: Strong bull trend, but buy climax Every bar for the past 12 months has a low above the low of the prior month on the monthly S&P500 Emini futures candlestick chart. This is a 13 bar bull micro channel and therefore a strong bull trend. Since it is extreme, […]
Emini bull reversal bar before Trump’s tax cut and budget votes
Intraday market update: November 10, 2017
Emini bull reversal bar before Trump’s tax cut and budget votes Updated 6:44 a.m. While yesterday was a bull reversal day, it was in a 2 week trading range and therefore there is nothing to reverse. Today opened in the middle 3rd of yesterday’s range, which increases the chances of a lot of overlap. Overlap […]
Emini wedge top and buy climax at 2600 Big Round Number
Intraday market update: November 9, 2017
Emini wedge top and buy climax at 2600 Big Round Number Updated 6:44 a.m. The Emini opened with a big gap down. The 1st 2 bars were big bars with big tails. The bull bodies make a Big Down, Big Up, Big Confusion pattern, which usually leads to a trading range. The tails are typical […]
Emini wedge top and Trump tax cuts and tax reform
Intraday market update: November 8, 2017
Emini wedge top and Trump tax cuts and tax reform Updated 6:41 a.m. Today opened in yesterday’s 4 hour trading range, just above yesterday’s low. The odds are that today will test both yesterday’s low and high. It therefore will probably have both a leg down and up and form a trading range day. Since […]
Emini wedge top before Congress Trump’s tax reform vote
Intraday market update: November 7, 2017
Emini wedge top before Congress Trump’s tax reform vote Updated 6:49 a.m. The bulls got a breakout to another new high on the open and a Buy The Close open. They want a 4th consecutive bull day. While the Emini is Always In Long, it is at the top of a wedge on the daily […]
