Posted 7:00 a.m. The bears got follow-through selling on the open. The chance of a big bear trend day is 25%. There is still a 75% chance of at least a 2 hour trading range that starts before the end of the 2nd hour. When there is a Sell The Close open after a big […]
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Intraday market update: April 29, 2016
Intraday market update: April 28, 2016
Day traders see candlestick pattern as final flag top
Posted 7:01 a.m. The Emini reversed up sharply after a dip below the bottom of the FOMC bull reversal, and became Always In Long. The bears tried for an Opening Reversal down from the moving average and a 50% pullback, but the rally was strong enough to make this a low probability bet. It is […]
Intraday market update: April 27, 2016
Candlestick patterns and price action after an FOMC report
Posted 7:01 a.m. The Emini reversed up from a test of yesterday’s low, but lacked follow-through. Yesterday was a tight trading range. The Emini has not yet done enough to convince traders that it is about to have a swing up or down. It might reach a measured move up or down, based on the […]
Intraday market update: April 26, 2016
Learn how to trade TR price action before FOMC
Posted 7:10 a.m. The Emini gapped above yesterday’s high triggering a High 1 bull flag buy signal on the daily chart. Limit order bears could not make any money in the 1st 30 minutes. Even though the Emini has had a series of buy climaxes since the last hour of yesterday and it testing the […]
Intraday market update: April 25, 2016
Day traders see a weak bull flag candlestick pattern
Posted 7:09 a.m. The Emini tested yesterday’s low, but stalled in yesterday’s lower trading range. While the Emini is Always In Short, the initial sell signal bar at the high of the day had a bull body and it was not quite at the moving average. This happens more often in a trading range than […]
Emini weekend update: April 23, 2016:
Candlestick pattern is a Final Bull Flag
Monthly S&P500 Emini futures candlestick chart: Small breakout to new all-time high The monthly S&P500 Emini futures candlestick chart broke to a new all-time high this week, but pulled back. There is still a week left to the month. The month could become a big bull trend bar or a bear reversal bar. It probably […]
Intraday market update: April 22, 2016
Learn how to trade a pullback candlestick pattern
Posted 7:00 a.m. The Emini reversed up from below yesterday’s low in the first minute of the day. Although it had several consecutive bull bars, they had prominent tails. This happens more in a bull leg in a trading range than in a bull trend. Unless the bulls get a strong bull breakout above the […]
Intraday market update: April 21, 2016
Price action favors trading range candlestick pattern today
Posted 7:12 a.m. The Emini sold off on the open to the 60 minute moving average. Yesterday was a sell signal bar on the daily chart, and today’s selloff is near the support of yesterday’s low. The selloff has been strong enough for today to trigger the short below yesterday’s low. However, the selloff is […]
Intraday market update: April 20, 2016
Online day traders expect breakout price action
Posted 6:46 a.m. The quiet, tight bull channel from yesterday continued on the open today. The bulls want the reversal up from the moving average to be an Opening Reversal that leads to a new all-time high. The bears want the weak rally fro 41 yesterday to be a leg in a trading range. Until […]
Emini weekend update: April 16, 2016:
Candlestick pattern is a possible Final Flag
Monthly S&P500 Emini futures candlestick chart: Testing all-time high The monthly S&P500 Emini futures candlestick chart has had 3 strong bull trend bars, but it has not yet broken above the top of the 2 year trading range. On the monthly S&P500 Emini futures candlestick chart, the Emini is still at the top of its […]
