Monthly S&P500 Emini candle chart: Strong bull trend, but overbought The monthly Emini chart is forming an ioi breakout mode setup at the top of the bull channel, but in a very overbought bull trend. The monthly S&P500 Emini candle chart is still in a bull trend, but it is extremely overbought by at least […]
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Emini weekend update: January 16, 2015:
Intraday market update, January 16, 2015:
Breakout mode, testing support
Posted 6:50 a.m. The Emini reversed up from below yesterday’s low, but it did not yet break out above yesterday’s trading range. Until it does, the bears see the rally as a bull leg in broad bear channel. At the moment, it is always in long, but this is not helpful when the range is […]
Intraday market update, January 15, 2015:
Support at the bottom of the trading range
Posted 6:55 a.m. and I leave early today and tomorrow, Friday, and might not be able to post an end of the day update. The Emini ended yesterday always in long, but at the top of a spike and channel pattern. This usually evolves into a trading range. Today’s strong reversal down made the market […]
Intraday market update, January 14, 2015:
No post today because I am travelling
No post today because I am travelling. I will also only be trading for the 1st 2 hours on Thursday and Friday. Traders can see the end of the day bar-by-bar price action report by signing up for free at BrooksPriceAction.com. I talk about the detailed Emini price action real-time throughout the day in the […]
Intraday market update, January 13, 2015:
wedge bull flag within a 60 minute trading range
Posted 7:01 a.m. The Emini gapped above the 2 day wedge bull flag and opened with a big bull trend bar. It is always in long. However, the follow-through has been bad. This means bulls are taking quick profits, instead of buying above the high of the prior bar. If the bulls are not willing […]
Intraday market update, January 12, 2015:
60 minute chart is in a trading range
Posted 6:52 a.m. Yesterday ended always in short because of the selloff at the end of the day, but the 2nd half of the day was still a trading range. Today open within that trading range, which increases the chances of more trading range trading. However, the first four bars were big bear bars, and […]
Emini weekend update: January 10, 2015:
bull trend evolving into a trading range
Monthly S&P500 Emini candle chart: Overbought bull trend, forming more trading range price action The monthly candle chart is in an early tight trading range. This month so far is an inside doji candle and it follows last months outside doji candle. The monthly S&P500 Emini candle chart is in a strong bull trend, but […]
Intraday market update, January 9, 2015:
trend reversal or trend resumption.
Posted 6:45 a.m. The Emini opened with a huge bear trend bar and that made the Emini always in short. It might bounce and test yesterday’s high, but at the moment, the odds are probably 50% or better that we have seen the high of the day. The head and shoulders bottom measured move target […]
Intraday market update, January 8, 2015:
gap up but possible buy climax
Posted 6:53 a.m. Today opened with a big gap up but possible buy climax. Although the Emini might work sideways to the moving average, the odds of a bear trend day are small at this point. The bears would need a strong reversal with follow-through, and that would be unusual unless there was a rally […]
Intraday market update, January 7, 2015:
Rally after a sell climax
Posted 7:10 a.m.> The Emini gapped up and the bulls want to get above yesterday’s high, which is the top of the last 60 minute sell climax. After a weak rally on the open to the resistance of the 60 minute moving average, swing traders will wait for a strong breakout up or down before […]
