Posted 6:54 a.m. Yesterday ended with a 10 bar tight trading range and today opened with more trading range bars. Although the Emini is always in long and the rally was in a tight channel, the rally contained consecutive buy climaxes. This will tend to limit the upside over the first hour or two. Bulls […]
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Intraday market update, April 10, 2015:
Intraday market update, April 9, 2015:
Trading range for day traders
Posted 7:00 a.m. The Emini had a big bull trend bar on the open, but the breakout above yesterday’s high failed. The reversal down lacked strong follow-through selling. This is trading range price action and it formed after yesterday’s trading range day and in a 3 day trading range at the top of a month […]
Intraday market update, April 8, 2015:
Support and resistance
Posted 6:58 a.m. The Emini opened with a strong reversal up. However, because there was no clear bottom, like a major trend reversal or a wedge, the odds are that the bulls will need a pullback to form a higher low major trend reversal before they can go much higher. The Emini is always in […]
Intraday market update, April 7, 2015:
I am not posting today because I am flying home from spending time with one of my daughters at school, and with my 101 year old mother, who is still incredibly smart. See the weekly update for a discussion of the weekly chart and for what to expect going into next week. Traders can see […]
Intraday market update, April 6, 2015:
I will not post today. My daughter asked me to spend the day with her to attend her classes at the Harvard Business School, which I am hoping will be fun. I will be back on Wednesday. See the weekly update for a discussion of the weekly chart and for what to expect going into […]
Emini weekend update: April 3, 2015:
Monthly sell signal bar
Monthly S&P500 Emini candle chart: Bear ioi sell signal The monthly Emini candle chart is in a strong bull trend, but it formed another bear ioi sell signal with March’s close. The monthly S&P500 cash index has not touched the moving average in 34 months, which is a type of buy climax. Any unsustainable behavior […]
Intraday market update, April 2, 2015:
Bull channel testing the bull trendline
Posted 7:00 a.m. The bulls had a breakout above yesterday’s trading range and strong follow-through. This reaffirms the always in long condition. The breakout is big enough so the there probably will be buyers below for at least one more leg up. With so much time spent sideways over the past week, this breakout might […]
Intraday market update, April 1, 2015:
Bear trend channel within a trading range
I will post around 7:03 a.m. The Emini had a strong bear breakout on the open and is always in short. However, this is climactic selling and the market is far below the moving average. The stop is far away so the risk has increased. The computers have to reduce their risk and this means […]
Intraday market update, March 31, 2015:
Monthly sell signal bar
Posted 6:56 a.m. The bulls tried for an opening reversal at the 60 minute moving average and the bears wanted a breakout pull back short below yesterday’s low. Instead, the day began with a limit order market in the middle of the month’s range. Traders learning how to trade the markets need to be patient […]
Intraday market update, March 30, 2015:
Trading range and in breakout mode
Posted 6:50 a.m. The Emini opened with a big gap up and a bull breakout, and continued the always in long rally from early Friday. The bears need either a trading range to generate selling pressure or a parabolic wedge top. There is no evidence of either yet. Until then, bulls will swing and scalp, […]
