Posted 7:07 a.m. The Emini opened with a gap down, and it formed a 3 day expanding triangle bull flag at the 60 minute moving average. It had a 2nd entry buy signal and a big bull entry bar closing on its high. The day is Always In Long, and there is currently a 50% […]
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Intraday market update: March 22, 2016
Intraday market update: March 21, 2016
Day trading tip is to expect profit taking
Posted 7:02 a.m. The Emini rallied for the 1st 3 bars and then had 2 big dojis. This is disappointing price action, and it increases the chances of a trading range day, like Friday. Today might trade both above and below Friday. If this opening rally continues, it will probably be a bull leg in […]
Emini weekend update: March 19, 2016:
Learn how to trade consecutive buy climaxes
Monthly S&P500 Emini futures candlestick chart: Strong bull breakout above double bottom, but still in trading range The monthly S&P500 Emini futures candlestick chart this month so far has a big bull trend bar, but the rally is still in the bull flag. The monthly S&P500 Emini futures candlestick chart has rallied strongly for the […]
Intraday market update: March 18, 2016
Learn how to trade climactic price action
Posted 7:00 a.m. The Emini broke above yesterday’s 2 hour trading range, but a trading range late in a bull trend, especially one with a lot of bear bodies, is usually the final bull flag. This means that today will probably trade back into that range and go sideways again at the price. The odds […]
Intraday market update: March 17, 2016
Learn how to day trade a buy climax top
Posted 6:54 a.m. The early selloff made it likely that the 2 hours of sideways to down trading that I was expecting has already begun and that today will not have early follow-through buying. The odds favor a trading range that lasts at least a couple of hours. Since it probably began yesterday with the […]
Intraday market update: March 16, 2016
Day trading tip is to expect a selloff after the FOMC report
Posted 7:03 a.m. The Emini rallied from an expanding triangle bull flag on the open, and formed a trend from the open bull trend. Expanding triangle bull flags are usually followed by an attempt at an expanding triangle top. Also, an open with a couple of buy climaxes often forms a parabolic wedge top and […]
Intraday market update: March 15, 2016
Online day trades should see a Low 5 candlestick pattern
Posted 6:52 a.m. The Emini gapped down and triggered the Low 5 sell signal on the daily chart. It reversed up after closing the gap above Thursday’s high and the test below the 60 minute moving average. The initial reversal up was not strong. The 1st 2 bars were not big and they had prominent […]
Intraday market update: March 14, 2016
Learn how to trade the markets after a buy climax
Posted 7:15 a.m. Yesterday was in a bull channel, but it contained mostly small overlapping dojis, which means that it was probably going to be a bull leg in a trading range. Today broke below the bull channel on the open, but the small bars continued on the open. This increases the chances that today […]
Emini weekend update: March 12, 2016:
Bullish price action but buy climax
Monthly S&P500 Emini futures candlestick chart: Bull flag after buy climax The monthly S&P500 Emini futures candlestick chart has a strong entry bar so far for the buy above last month’s buy signal bar, but it is still within a 2 year trading range after a buy climax. The monthly S&P500 Emini futures candlestick […]
Intraday market update: March 11, 2016
Learn how to day trade an expanding triangle
Posted 6:54 a.m. Although today gapped above last yesterday’s high and traded above last week’s high, it opened with a tight trading range and small bars. This makes it likely to have limited upside. Any reversal down would trigger an expanding triangle top and a failed breakout above last week’s high, but the bears will […]
