Posted 7:33 a.m. The Emini began with a tight trading range in the middle of yesterday’s 2 hour range and in the middle of the 2 day range. It was a limit order open, and it increases the chances or more trading range price action, like the past 2 days. Since it opened in the […]
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Intraday market update: October 8, 2015
Intraday market update: October 7, 2015
Learn how to trade the markets at resistance
Posted 7:25 a.m. The Emini rallied on the open, but the bull bars were followed by bear bars, and bear scalpers made money selling above the high of the prior bar. This more often happens when a rally is a bull leg in a trading range, and less often when it is the start of […]
Intraday market update: October 6, 2015
Learn how to trade the markets testing a gap
Posted 7:19 a.m. The Emini tested yesterday’s high and the August 28 double top with September 9 and pulled back sharply. The bears saw an expanding triangle top with the final hour of yesterday, but the rally on the open was strong enough so that the bears will probably need either a 2nd entry sell […]
Intraday market update: October 5, 2015
Learn how to trade a bull reversal
Posted 7:02 a.m. The bulls got a trend from the open bull trend, but the buying from Friday’s low is climactic and the odds favor profit taking. It should last at least a couple of hours and possibly all day. Although it is possible for this early trend to last all day, there is a […]
Emini weekend update: October 3, 2015:
Candlestick pattern is a bull trend reversal in a trading range
Monthly S&P500 Emini futures candlestick chart: Pullback to moving average after buy climax The monthly S&P500 Emini futures candlestick chart has held at the moving average for two months, but because the bull trend was climactic, the correction might last many more months. The monthly S&P500 Emini futures candlestick chart is correcting after 38 months above […]
Intraday market update: October 2, 2015
Learn how to trade the markets after a report
Posted 7:25 a.m. The Emini began with reversals up and down in a narrow range, which was a triangle, and it was in breakout mode. When that is the case, bulls look for a small bull reversal bar near the bottom that closes on its high, and bears want a bear reversal bar at the […]
Intraday market update: October 1, 2015
Learn how to trade the markets when price action is confusing
Posted 7:15 a.m. The Emini reversed down from above yesterday’s high and then had an opening reversal up from the 15 minute moving average. The selloff fro the open was about 15 points, which is a lot and it reduced the chances that today will be able to close much above the open of the […]
Intraday market update: September 30, 2015
Learn how to trade the markets when oversold
Posted 7:32 a.m. The Emini gapped up and then formed both a small double top and double bottom. Breakout mode is the most common setup to happen after a big gap up or down. Traders can buy the high 2 or sell the low 2, and the reward is much bigger than the risk, but […]
Intraday market update: September 29, 2015
Learn how to trade a bear rally
Posted 7:03 a.m. The Emini reversed up strongly from below yesterday’s low. It formed a wedge bottom on the 5 minute chart and an expanding triangle on the 60 minute chart. The targets are the September 1 low and the 60 minute moving averages. The Emini is Always In Long, and the reversal up was […]
Intraday market update: September 28, 2015
High probability trading near the bottom of a trading range
Posted 7:24 a.m. The Emini ended with a small rally Friday. It formed a double top bear flag, and today’s open fell below yesterday’s low, which was the neckline of the bear flag. It fell for more than a measured move down, and it tested the September low, which is the bottom of the month […]
