April is seasonally strong but still in early bear channel Updated 6:45 a.m. The day began at yesterday’s close at the 60 minute moving average. In addition, it was a limit order open. The bears want yesterday’s selloff into the close to be the start of a pullback to Wednesday’s bottom of the bull channel. […]
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April is seasonally strong but still in early bear channel
April government shutdown crisis and 5 per cent correction
Emini weekend update: April 1, 2017
Monthly S&P500 Emini futures candlestick chart:Buy climax at Final Bull Flag measured move target The monthly S&P500 Emini futures candlestick chart had a bear body this month after last month’s big bull bar. Yet, the bar was a doji bar, and therefore a weak sell signal bar after a 4 bar rally. The monthly S&P500 […]
End of quarter window dressing before 5 percent correction
Intraday market update: March 31, 2017
End of quarter window dressing before 5 percent correction Updated 6:41 a.m. The Emini gapped down to the 60 minute moving average on the open, and had a weak reversal. This is early trading range price action. Furthermore, it is in the middle of yesterday’s range. In addition, like the past 2 days were mostly […]
Impending Obamacare Affordable Health Act repeal causing S&P rally
Intraday market update: March 30, 2017
Impending Obamacare Affordable Health Act repeal causing S&P rally Updated 6:41 a.m. The Emini opened in the middle of yesterday, which was a trading range day. The selloff down to yesterday’s low was strong. Therefore, the Emini might have to test that low again before the bulls will buy again. If it does test that […]
Stock market rally off 50 day moving average
Intraday market update: March 29, 2017
Stock market rally off 50 day moving average Updated 6:48 a.m. Because of yesterday’s late selloff, the bulls will probably need at least a small double bottom before getting a swing up. Yet, yesterday’s bull trend was strong. Therefore, the selloff is probably the start of a trading range and not a bear trend. The […]
Bear rally in correction giving back 2017 Trump rally gains
Intraday market update: March 28, 2017
Bear rally in correction giving back 2017 Trump rally gains Updated 6:54 a.m. While the Emini rallied on the open, it was in yesterday’s trading range. Yesterday is a buy signal bar on the daily chart and the bottom of a 2 legged pullback to the 50 day moving average. Traders want to see if […]
Failed Obamacare Health Care repeal vote creating stock market volatility
Intraday market update: March 27, 2017
Failed Obamacare Health Care repeal vote creating stock market volatility Updated 6:46 a.m. The Emini opened with a big gap down, yet stalled. The early tight trading range increases the chances of a lot of trading range price action today. Furthermore, it reduces the chances of a strong trend up or down. In addition, this […]
Obamacare Health Care Act repeal starting 5% correction
Emini weekend update: March 25, 2017
Monthly S&P500 Emini futures candlestick chart:Obamacare Health Care Act repeal starting 5% correction The monthly S&P500 Emini futures candlestick chart has a big bear bar so far this month. Yet, there is a week left. Hence, while unlikely, it could still end up with a bull body once it closes. The monthly S&P500 Emini futures […]
Affordable Care Act repeal is catalyst for 5% market correction
Intraday market update: March 24, 2017
Affordable Care Act repeal is catalyst for 5% market correction Updated 6:50 a.m. While the Emini opened with a gap up, it opened just below the 60 minute moving average. This is therefore a sign of hesitation by the bulls. In addition, the gap up after yesterday’s late selloff creates a Big Down, Big Up, […]
Likely 5 percent correction to Dow 20000 erasing 2017 gains
Intraday market update: March 23, 2017
Likely 5 percent correction to Dow 20000 erasing 2017 gains Updated 6:50 a.m. Yesterday was a trading range day and today opened in the middle of yesterday’s range. Hence, the odds favor more sideways trading. Because yesterday had a bull body after Tuesday’s big bear breakout, it is a buy signal bar on the daily […]
