Posted 7:15 a.m. After an initial selloff to the 60 minute moving average and below yesterday’s double bottom, the bulls got an opening reversal up. However, the rally stalled in the middle of yesterday’s trading range. Although the Emini is Always In Long, it is still in Breakout Mode. Traders are buying low, selling high […]

Posted 7:11 a.m. Like yesterday, today began with a trend from the open bull trend, and like yesterday, it stalled after a few bars. The initial bull breakout can lead to a measured move up or down. If the move does not begin for 10 or more bars, the initial rally will lose influence and […]

Posted 7:07 a.m. Today began with reversals around yesterday’s close and in the middle of yesterday’s trading range. This is a limit order open and it increases the chances of another trading range day. Three of the past 4 days have been dojis. There have been no pullbacks and the Emini is near the top […]

Posted 7:09 a.m. The Emini began with a trend from the open bull trend. Although it is possible for the Emini to reverse abruptly down, it is more likely that the bears will need a major trend reversal or an endless pullback and then a bear breakout. Both would take at least 10 bars to […]

Posted 7:21 a.m. Despite the early rally, bears were able to make money selling with limit orders. This increases the chances of a trading range, and today will give day traders a chance to learn how to trade the markets below resistance. Nothing has changed from my comments before the open. The bulls might get […]

Posted 7:19 a.m. The Emini opened with a trend from the open bull trend, but with bad follow-through after strong bull bars. This is more common with rallies within trading ranges than in bull trends. There were several reversals and both bulls and bears made money several times scalping with limit orders. This is trading […]

Posted 7:17 a.m. The Emini had a reversal down from above yesterday’s high and then an opening reversal up from the moving average. This created a breakout mode environment. Until there is a strong breakout up or down with strong follow-through, traders are quick to take profits and are selling above bars and buying below […]

Posted 6:54 a.m. The Emini reversed strongly up from below Friday’s low on the open. Although the bears want an opening reversal down from the 15 minute moving average and another lower high in their bear channel, the odds are that the reversal up was strong enough so that the 1st test down will be […]