The monthly S&P500 Emini candle is forming a big bear entry bar in an overbought market The monthly Emini chart triggered a second entry sell signal last week and is now forming a big bear entry bar. However, there is a long time before the monthly bar closes and it might look much different once […]
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Intraday market update, October 10, 2014: bull trend reversal and then bear trend reversal
End of day comments about today’s Emini price action and day trading: Strong bear breakout on the daily chart The Emini reversed up strongly on the open, but failed to get above yesterday’s lower high and then sold off to a new low of the day. It became a big bear trend day, closing below […]
Forex price action showing trend reversal
The Forex market daily chart of the EURUSD cross has been in a trading range for months and had a sharp selloff down to an area where buyers came in during February and April. Traders watching this Forex price action found a day trading opportunity today on the 5 minute chart. The 5 minute Euro […]
Intraday market update, October 09, 2014: trading range day for day traders
End of day comments about today’s Emini price action and day trading: strong bear trend day Although yesterday was a bull channel and therefore a bear flag, the selling today was much stronger than what is usual after such a strong bull reversal. Tomorrow might gap down and create a measuring gap on the daily […]
Intraday market update, October 08, 2014: day traders are in breakout mode
End of day comments about today’s Emini price action and day trading The Emini had early follow-through selling and then the expected strong bull reversal. Today was a huge bull trend day. The Emini was in a trading range for the first hour and then had a downside breakout. It then formed a double bottom […]
Intraday market update, October 07, 2014: breakout mode for day traders
End of day comments about today’s Emini price action and day trading The Emini had trading range price action and spent 5 hours in a triangle. There was a late bear breakout for resumption of the bear trend. As soon as a trading range has 3 pushes up or down, it is a triangle. The […]
Intraday market update, October 06, 2014: bear trend channel
End of day comments about today’s Emini price action and day trading The Emini sold off from above yesterday’s high and reversed up at a measured move down from today’s high to yesterday’s close. Day traders bought the lower low major trend reversal. The Emini had 4 consecutive bear bars after the high of the […]
Emini weekend update: October 11, 2014: strong bear breakout on daily chart
The monthly S&P500 Emini candle closed on Tuesday and created a bear reversal bar The monthly Emini chart triggered a second entry sell signal this week by falling below last month’s low. It is too early to know what the entry bar will look like when it closes at the end of October. The monthly […]
Intraday market update, October 3, 2014: bear rally for day traders
End of day comments about today’s Emini price action and day trading The Emini had an opening reversal up from a pullback to the 60 minute moving average and just above yesterday’s high. It closed near the open of the week and created a big doji candle on the weekly chart. The Emini was overbought […]
Intraday market update, October 2, 2014:
End of day comments about today’s Emini price action and day trading The Emini had follow-through selling today, but reversed up after a parabolic wedge sell climax. The odds were high that yesterday’s bear channel would be a bull flag and that today would rally at some point for at least 20 bars. The bears […]
