Chart posted after the close. Gap down and reversal up because today fell below last week’s low. That made today the first pullback in a 10 bar bull microchannel on the weekly chart. Odds favored the first bear reversal would fail. However, the market usually tries to get above the top of the microchannel and […]
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Intraday market update, July 9, 2014: opening reversal
This chart was posted after the close. The Emini and stock market had a strong bull opening reversal at the moving average, which controlled the day’s price action. Bulls kept buying pullbacks, and none fell below the bottom of the bull breakout that began at 7:25 am. Posted 7:52 am PST. The key feature in […]
Intraday market update, July 8, 2014: bear leg in a trading range
This chart was posted after the close. The stock market began with a bear leg in what was likely to become, and which became, a trading range, and this was followed by a higher low major trend reversal. Posted 7:49 am PST.The key feature in today’s intraday report is the trend from the open bear […]
Intraday market update, July 7, 2014: weekly buy climax
Trending trading range day after a weekly buy climax (chart posted after the close). Posted 8:06 am PST. The key feature in today’s intraday update is the small trading range price action after a weekly buy climax. The weekly chart has an 10 bar bull microchannel. Since it is late in a bull trend, it […]
Intraday market update, July 3, 2014: breakout mode
I added this chart after the close. The market was in breakout mode and reached a measured move up. Posted 7:50 am PST. The key feature in today’s intraday update is the breakout mode opening range. Today had a strong unemployment report. The Emini closes at 10:15 am because tomorrow is the 4th of July. […]
Intraday market update, July 2, 2014: trading range
Today was a quiet trading range day after yesterday’s buy climax above the top of the weekly channel. Posted 8:15 am PST. The key feature in today’s intraday update is that today is the day after a strong breakout about the top of the weekly channel. Since yesterday was a buy climax, today most likely […]
Intraday market update, July 1, 2014: bull trend from the first bar
This chart was posted after the close and it shows a small pullback bull trend followed by a parabolic wedge top. The market closed one tick below the top of the weekly trend channel. Posted 8:29 am PST. The key feature in today’s intraday market update is the bull trend from the first bar. The […]
Intraday market update, June 30, 2014: trading range open
This chart was posted after the close. It shows that the day continued as a trading range day, as was likely to be the case. This report was posted at 8:35 am PST. The key feature in today’s intraday update is the trading range price action. Today is the last day of the month so […]
Intraday market update, June 27, 2014: trading range day
This chart was posted after the close. Today was a trading range day that had a failed breakout to a new low of the day and then a trend reversal up to a new high of the day. It tested the open of the week and created a doji candle on the weekly chart. Posted […]
Intraday market update, June 26, 2014: sell vacuum test of yesterday’s low
Posted 7:34 am PST. I posted the chart below after the close. Yesterday ended always in short with the reversal down from the wedge top and the 3 consecutive bear bars. A trading range was likely after yesterday’s major trend reversal, but instead there was a strong bear breakout on the open that reversed up […]