The Emini sold off from Friday’s wedge top and formed a trending trading range day. It rallied back into the upper range at the end of the day. End of day comments about today’s Emini price action and day trading The Emini fell from a lower high major trend reversal after yesterday’s wedge top. All […]
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Emini weekend update: September 7, 2014: Bull trend but overbought
The monthly S&P500 Emini candle chart is in a strong bull trend but overbought The S&P500 Emini monthly chart is in a strong bull trend, although it is overbought. I have talked about three signs that the monthly chart is overbought. Only twice in the past 20 years has the S&P500 Emini been above the […]
Intraday market update, September 5, 2014: trading range day
After yesterday’s sell climax, the Emini reversed up strongly from a wedge bottom that formed just above last week’s low. End of day comments about today’s Emini price action and day trading The Wedge bottom was followed by a strong rally that tested a measured move up, and the Emini closed above the open of […]
Intraday market update, September 4, 2014: strong bull trend on the open
The S&P500 Emini rallied strongly on the open to a new high, but like all of the new highs over the past two weeks, there were enough sellers to turn the stock market back down. The rally was just a buy vacuum test of resistance (the new high and the top of the channel). The […]
Intraday market update, September 3, 2014: expanding triangle trend reversal
The S&P500 Emini sold off from the first bar with an expanding triangle trend reversal. End of day comments about today’s Emini price action and day trading The Emini sold off from the first bar of the day with an expanding triangle trend reversal, but then bounced up off of the 60 minute moving average […]
Intraday market update, September 2, 2014: bear trend reversal
The Emini reversed down on the open from above the all-time high, which was also the high of last week and last month. It reversed back up from just above yesterday’s low. End of day comments about today’s Emini price action and day trading The Emini is overbought on all time frames and can correct […]
Emini weekend update: August 31, 2014: buy climax at top of the bull channel
The monthly S&P500 Emini candle chart is in a strong bull trend The S&P500 Emini monthly chart is in a strong bull trend, although it is overbought. Although the monthly S&P500 Emini chart is in a buy climax at the top of the bull channel, it is still strong bull trend and there is no […]
Intraday market update, August 29, 2014: trading range price action
The S&P500 Emini had a strong bull trend reversal. After a long bear channel, the Emini retested its high going into the close. End of day comments about today’s Emini price action and day trading The S&P500 Emini reversed up in a parabolic wedge from last week’s high. It then formed a parabolic wedge top […]
Intraday market update, August 28, 2014: bull trend reversal
The S&P500 Emini gapped down on the daily chart, forming a 3 day island top. It then had a bull trend reversal up, turning the island top into a failed top. Day traders saw the price action as that of a broad bull channel. End of day comments about today’s Emini price action and day […]
Intraday market update, August 27, 2014: trading range price action for day traders
The S&P500 Emini was in a trading range today for online day traders, and it might get drawn down to test the July high by Friday’s close. End of day comments about today’s Emini price action and day trading The Emini today did what it has been doing for weeks, and spent most of the […]
