August bear reversal bar Updated 6:51 a.m. The Emini rallied on the open and broke above the 60 minute moving average and the 50% pullback level. Yet, the 1st 2 bars had prominent tails and the 3rd bar was a small bar. This reduces the chances of a big bull trend day. The bulls need […]
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August bear reversal bar
Weekly chart outside down bar sell signal
Emini weekend update: August 27, 2016
Monthly S&P500 Emini futures candlestick chart: Probable bear month The monthly S&P500 Emini futures candlestick chart has 3 days left before the bar closes on Wednesday. It is now a doji candlestick pattern in a 7 bar bull micro channel. That is a buy climax and the odds favor a 1 – 3 bar (month) […]
Yellen Fed interest rate hike announcement
Intraday market update: August 26, 2016
Yellen Fed interest rate hike announcement Updated 7:11 a.m. The Emini broke above the 3 day tight bear channel on the open. It sold off sharply on Yellen’s remarks, and then reversed up to a new high of the day. This Big Up, Big Down, Big Up trading creates confusion. It therefore increases the chances […]
Emini double top at 2200 resistance
Intraday market update: August 25, 2016
Emini double top at 2200 resistance Updated 6:57 a.m. The Emini reversed up from below yesterday’s low and from 1 tick below the open of the month. Yet, because the 2 day selloff was in a tight bear channel, the odds are that this reversal up will be a bull leg in a trading range. […]
Greater fools theory crowded trade
Intraday market update: August 24, 2016
Greater fools theory crowded trade Because I will not be trading today, I will be unable to provide an update. Pre-Open Market Analysis The Emini made a new high again yesterday and formed a 5 day island bottom. However, there was no enthusiasm. The day was small and sideways. While yesterday was an entry bar […]
Emini island bottom bull breakout
Intraday market update: August 23, 2016
Emini island bottom bull breakout Updated 6:46 a.m. While the Emini gapped up to a new high and formed an island bottom, the breakout was weak. The Emini is Always In Long, and the bulls still want a bull trend day. Yet, these 1st few bars make a strong bull trend day less likely. More […]
S&P500 stock market wedge rally buy climax
Intraday market update: August 22, 2016
S&P500 stock market wedge rally buy climax Updated 6:56 a.m. The Emini sold of on the 1st bar to test yesterday’s low. Yet, this was followed by a pair of dojis and a 4 bar tight trading range. Limit order bulls and bears made money in the 1st few bars. Hence, these are signs that […]
Emini August buy climax
Emini weekend update: August 20, 2016
Monthly S&P500 Emini futures candlestick chart:Breakout and Emini August buy climax The Emini has had 7 consecutive bull trend bars on the monthly candlestick chart. While last month was a strong bull breakout, this month so far is a doji bar. That is therefore weak follow-through buying. Hence, it increases the chances of a pullback […]
Emini head and shoulders top
Intraday market update: August 19, 2016
S&P500 Emini head and shoulders top, but most tops fail Updated 6:54 a.m. While the Emini opened with strong bear bars and a breakout below yesterday’s double top, many days over the past 6 weeks have had similar opens that led to Opening Reversals. The bears want a close below last week’s low. Hence, this […]
S&P500 Emini head and shoulders top
Intraday market update: August 18, 2016
S&P500 Emini head and shoulders top Updated 6:56 a.m. Yesterday’s breakout was strong enough to have a 3rd push up today. While the pullback from the breakout overlapped the breakout point, the overlap was not too much. Therefore the gap might be a Negative Gap. Hence, it still might result in a Measured Move up. […]
