Emini island top reversal pattern Updated 6:59 a.m. The Emini opened with a Sell The Close selloff. The bears want to get below last week’s 2167.75 low, which would make this week an outside down week. The bulls always want the opposite and will buy above last week’s low. They therefore are trying to create […]

S&P500 testing 2200 big round number Updated 7:02 a.m. Today opened with a gap down. Yesterday therefore was a 1 day island top. While many tops and bottoms begin with island tops and bottoms, most island tops and bottoms become parts of a trading range. Hence, it is not strongly bearish. The 3 consecutive bear […]

S&P500 2,200 resistance Updated 7:00 a.m. The Emini gapped up and made a new all-time high on the open, and began with a Buy The Close rally. Yet, the 1st 3 bars had prominent tails, and limit order bears made money. While bullish, this is a sign that the bulls are not especially strong yet. […]

S&P500 Emini wedge top testing 2200 Updated 7:08 a.m. Yesterday was a Micro Double Top on the daily chart and therefore a sell signal bar for a failed breakout above the 3 month trading range. Yet, it had a bull body, which lowers the probability for bears selling below yesterday’s low. Today began with a […]

Emini nested top reversal down Updated 6:53 a.m. While the Emini gapped up and traded above yesterday’s high, the 1st several bars overlapped and had prominent tails. This trading range price action is similar to yesterday’s open, and it reduces the chances of a strong trend day. Yet, there will probably be at least one […]

Nested Emini final flag and expanding triangle top Updated 6:52 a.m. The Emini again opened exactly in the middle of yesterday’s range. This increases the chances for a trading range day. This is especially likely since yesterday was a trading day and today opened in a tight trading range from yesterday’s close and in the […]

Nested expanding triangles and final flags Updated 6:52 a.m. Yesterday was a bear channel, and therefore a bull flag. Yet, it was also a Spike and Channel Bear Trend, which usually evolves into a trading range. Two of the 1st 3 bars were dojis and today opened in yesterday’s range. This is consistent with the […]

August stock market correction not likely this week I updated this at 6:59 a.m. The Emini gapped up to a new all-time high. The bulls wanted the gap to stay open and for today to be another Trend From the Open bull trend. Yet, Friday was a tight trading range and their breakouts usually do […]