Emini strong all time high breakout but buy climax Updated 6:48 a.m. The Emini opened with a doji bar between yesterday’s 2 trading ranges. It reversed down and then up. In addition, bull and bear scalpers made money in the 1st few bars. These factors increase the chances that today will stay mostly within yesterday’s […]
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Emini strong all time high breakout but buy climax
Emini wedge top so stock market 5% correction soon
Intraday market update: February 13, 2017
Emini wedge top so stock market 5% correction soon Updated 6:52 a.m. The Emini gapped up and rallied in a trend from the open bull trend. Yet, it is at the top of a channel on the daily chart. This rally is therefore more likely a buy vacuum test of resistance than the start of […]
Emini wedge top leading to 5% 130 point stock market correction
Emini weekend update: February 11, 2017
Monthly S&P500 Emini futures candlestick chart:Bull trend losing momentum The monthly S&P500 Emini futures candlestick chart currently has 4 consecutive bull trend bars. Yet, the bodies are shrinking and it is at the top of a protracted tight bull channel. While it might reach the measured move targets before pulling back, the odds favor a […]
Emini 2300 all time high breakout but wedge top
Intraday market update: February 10, 2017
Emini 2300 all time high breakout but wedge top Updated 6:49 a.m. The Emini gapped up, but began with 2 bars with prominent tails. Furthermore, there was hesitation for the 1st 4 bars. The bulls want a repeat of yesterday’s early breakout. But, the bears want to continue to make money selling above prior highs. […]
Emini Island bottom after second failed island top
Intraday market update: February 9, 2017
Emini Island bottom after second failed island top Updated 6:50 a.m. Because today gapped up, it continued yesterday’s bull channel. Yet, the odds still favor a break below the channel because traders see bull channels as bear flags. The odds are that a channel will lead to a trading range instead of a new bull […]
Double top, micro double top, and island top will create 5% March correction
Intraday market update: February 8, 2017
Double top, micro double top, and island top will create 5% March correction I will update around 6:49 a.m. The Emini gapped down and did not have a bull body for the 1st 4 bars. It is therefore Always In Short. While today gapped down, the gap was small. In addition the 1st 3 bars […]
Emini island top, island bottom, and possibly second island top
Intraday market update: February 7, 2017
Emini island top, island bottom, and possibly second island top Updated 6:53 a.m. The Emini opened above yesterday’s high, but fell below yesterday’s high on the first bar. Hence, it closed the gap. Yet, it immediately reversed up for an opening reversal up from a test of yesterday’s high. The rally is similar to those […]
Daily island bottom and weekly ioi breakout mode candlestick pattern
Intraday market update: February 6, 2017
daily island bottom and weekly ioi breakout mode candlestick pattern Updated 6:50 a.m. The Emini opened in the middle of yesterday’s range and not at support or resistance. Therefore neither the bulls nor the bears were able to demonstrate strength on the open. Most days over the past several weeks were sideways for most of […]
Emini island top and island bottom bull flag
Emini weekend update: February 4, 2017
Monthly S&P500 Emini futures candlestick chart:Bull breakout is losing momentum The monthly S&P500 Emini futures candlestick chart has had 3 consecutive bull trend bars since the Trump rally began. Yet, the bodies are shrinking. Therefore, the rally is losing momentum. While there are still measured move targets between 2340 and 2375, there is still a […]
Emini island top needs bear breakout before 5% stock market correction
Intraday market update: February 3, 2017
Emini island top needs bear breakout before 5% stock market correction Updated 6:47 a.m. The Emini gapped up and created another island bottom. Wednesday’s attempt failed. Since 2nd attempts have a slightly higher probability, traders will be more willing to swing trade if a bull trend begins. The 1st bar was a bear bar, and […]
