Posted 7:19 a.m. The Emini sold off strongly on the open from a gap up to the 60 minute moving average and a test of yesterday’s high to far below yesterday’s low. This selling has been extreme and therefore climactic. While it could continue all day, it more likely it will run out of sellers […]
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Intraday market update: February 3, 2016
Intraday market update: February 2, 2016
Day trading tip is that the selloff will be bought
Posted 6:45 a.m. The Emini opened with a big gap down and traded below yesterday’s low, the 60 minute moving average, and the breakout point at the top of the bear flag on the daily chart (the January 27 high). However, the odds are that there will be buyers below yesterday’s low. As bearish as […]
Intraday market update: February 1, 2016
Learn how to trade a buy climax near resistance
Posted 7:10 a.m. The Emini gapped down to the 15 minute moving average and entered a tight trading range. This is a 20 gap bar buy setup on the 15 minute chart after Friday’s strong bull trend, and that will tend to limit the downside. The big gap down will tend to limit the upside. […]
Emini weekend update: January 30, 2016:
Learn how to trade a bull breakout above a bear flag
Monthly S&P500 Emini futures candlestick chart: Triangle after buy climax The monthly S&P500 Emini futures candlestick chart is in the middle of a triangle and in breakout mode Although the daily chart is giving traders a chance to learn how to trade a bull breakout above a bear flag, the monthly S&P500 Emini futures candlestick […]
Intraday market update: January 29, 2016
Breakout mode price action
Posted 7:15 a.m. The Emini opened with a trend from the open bull trend and is Always In Long. Although the rally lacks consecutive big bull bars and tails were prominent, an 8 bar bull micro channel without any bear bodies is enough to make traders buy the 1st pullback for a scalp. With the […]
Intraday market update: January 28, 2016
Learn how to trade a sell climax in a trading range
Posted 7:01 a.m. The Emini opened with a big gap up above the 60 minute moving average and testing the top of yesterday’s bear channel. It then entered a tight trading range. This big gap up after yesterday’s big selloff creates a Big Down, Big Up, Big Confusion pattern and it increases the chances of […]
Intraday market update: January 27, 2016
Learn how to trade bottoming price action
Posted 7:15 Today is an FOMC report day. Day traders should wait for at least 2 closes after the report before entering. The initial move reverses about half of the time. During the 1st 5 bars, bulls made money with limit orders twice, as did the bears. This is a limit order market and it […]
Intraday market update: January 26, 2016
Trading range price action for 2 weeks
Posted 7:02 a.m. The Emini got close to the top of the bear leg and broke above the 60 minute moving average, but reversed down. However, bull scalpers had 5 chances to make money in the 1st 5 bars, and the bear follow-through after the 2 bear bars was bad. This is trading range price […]
Intraday market update: January 25, 2016
Day trading tip is to expect a trading range for 2 weeks
Posted 7:09 a.m. The Emini began with 4 consecutive bear bodies, but the bars had prominent tails, and stayed within yesterday’s trading range. This is trading range price action, which is also present on the 60 minute and daily charts. Although the Emini will probably trade below Friday’s low or today’s low this week, it […]
Intraday market update: January 21, 2016
Learn how to trade a bull trend reversal
Posted 6:53 a.m. The Emini began with an early selloff after yesterday’s strong rally. Big up, big down so there is big confusion, and confusion is a hallmark of a trading range. The Emini is Always In Short, but it is more likely that the selloff will be a bear leg in a trading range. […]
