Posted 6:56 a.m. Yesterday is a sell signal bar on the daily chart, but it is a doji after 2 good bull bars. The odds are that there will be buyers below yesterday’s low. The bears want a bear trend, but the bulls scalpers have already made money twice today and the bear bars are […]
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Intraday market update: April 15, 2016
Intraday market update: April 14, 2016
Learn how to trade price action at resistance
Posted 7:06 a.m. The Emini reversed down from above yesterday’s high, but it lacked consecutive big bear trend bars. The odds are that yesterday’s bull channel was a bull leg in what will become a trading range. The Emini is Always In Short, and it probably will test higher lows in yesterday’s channel. It might […]
Intraday market update: April 13, 2016
Learn how to trade a possible new all time high
Posted 7:05 a.m. The Emini gapped up and had 3 early bull bars, but the bars overlapped and had tails. This was a weak opening for the bulls. Also, limit order bears made money twice in the 1st 5 bars. This is not how bull trends typically begin and it increases the chances of a […]
Intraday market update: April 12, 2016
Learn how to trade a failed Head and Shoulders
Posted 7:04 a.m. The Emini rallied on the open, but the 1st 3 bull bars had tails, and limit order bear scalpers made money. Also, the Emini stalled at the 60 minute EMA, which was support yesterday and therefore possibly resistance today. This makes the rally more likely a bull leg in a trading range. […]
Intraday market update: April 11, 2016
Price action creating breakout mode candlestick patterns
Posted 6:57 a.m. The Emini gapped up but entered a tight trading range, and it is near the top of a week trading range. This reduces the chances of a trend today, and it increases the chances for a lot of trading range price action. This means that the odds are that there will be […]
Emini weekend update: April 9, 2016:
Candlestick patterns have created breakout mode price action
Monthly S&P500 Emini futures candlestick chart: Testing top of bull flag The monthly S&P500 Emini futures candlestick chart has still not broken above the 2 year bull flag, despite the strong 2 month rally. The monthly S&P500 Emini futures candlestick chart continues to have 1 – 2 big bars up and down in a tight […]
Intraday market update: April 8, 2016
Candlestick pattern created buy signal on the daily chart
Posted 7:34 a.m. The bulls had a big gap up and want a rally to above Wednesday’s lower high to end the head and shoulders top. The bears got a parabolic wedge top, which is usually followed by a trading range or an hour or so. At that point, if the bears get a strong […]
Intraday market update: April 7, 2016
Day trading tip is to look for sell candlestick patterns
Posted 7:05 a.m. The Emini opened with a big gap down. It tested yesterday’s higher low and tried to form a big double bottom bull flag. It has been in a tight trading range and it is in breakout mode. Since it is at support, the odds favor a bull breakout and a measured move […]
Intraday market update: April 6, 2016
Learn how to trade quiet price action
Posted 7:15 a.m. Yesterday ended with an expanding triangle bottom at the bottom of a 4 day trading range. Today had an early higher low major trend reversal, but the 4 bull bars were not big and had tails. This is more trading range price action. Bulls and bears made money with limit order scalps, […]
Intraday market update: April 5, 2016
Learn how to trade evolving price action
Posted 6:55 a.m. The Emini opened with a big gap down, and it sold off on the open. When there is a big gap down and an early selloff, the selloff usually lasts about 5 – 10 bars and then the Emini goes sideways to up to the moving average over the next couple of […]
