Like most days for the past several weeks, the S&P500 Emini’s price action today was that of a quiet trading range day. However, it broke above 2,000, which became a magnet for the rest of the day. There were few opportunities for online day trading, and beginner day traders had to be careful. Experienced traders […]
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Intraday market update, August 25, 2014: gap up on the weekly chart
The S&P500 Emini’s price action today was that of a quiet trading range day. The Emini gapped above last week’s high and then tested into the gap in the middle of the day. The stock market then closed around the open, and created a doji candle on the daily Emini chart. End of day comments […]
Emini weekend update: Sunday, August 24, 2014: exhaustion gap
The monthly chart of the S&P500 cash index has only been this far above the moving average 3 other times in the past 20 years. Even though it might get further from the moving average, it will probably do what it did after those prior times and reverse back to the moving average. The 3 […]
Intraday market update, Friday, August 22, 2014: trading range price action
I posted this chart after the close. The S&P500 Emini had trading range price action from the open. There were two legged moves up and down all day. End of day comments about today’s Emini price action and day trading The S&P500 Emini sold off to the 60 minute moving average, which it has not […]
Intraday market update, Thursday, August 21, 2014: broad bull trend channel
I posted this chart after the close.The S&P500 Emini’s dominant price action feature of the today for day traders was the opening reversal up from the double bottom at the July high. End of day comments about today’s Emini day trading The S&P500 Emini reversed down sharply at the open, but it turned out to […]
Intraday market update, Wednesday, August 20, 2014:
I posted this chart after the close. The S&P500 Emini sold off at 11 a.m. PST on the report, but then reversed up strongly to a new all-time high. There was a pullback into the close. End of day comments The Emini rallied until just before the 11 a.m. report. The stock market reversed down […]
Intraday market update, Tuesday, August 19, 2014: bull leg in a trading range
I posted this chart after the close End of day comments The Emini gapped up and pulled back briefly, and then the stock market rallied for for the rest of the day. The rally had many small bars and dojis, and the Emini spent much of the time within tight trading ranges. This reduced the […]
Intraday market update, Monday, August 18, 2014: trading range open
I posted this chart after the close. The Emini gapped above last week’s high, had a brief rally, and then entered a tight trading range. End of day comments The S&P500 Emini gapped above last week’s high, which was also Friday’s high. This created a potential measuring gap on both the daily and weekly charts. […]
Emini weekend update: Sunday, August 17, 2014: weak entry bar on weekly candle chart
Even though this is called a Sunday update, I finished it early and posted after Friday’s close. The weekly S&P500 Emini candle chart had a strong enough reversal down from the top of the bull trend channel so that it is likely to have a second leg sideways to down to the bottom of the […]
Intraday market update, Friday, August 15, 2014: daily lower high major trend reversal
I posted this chart after the close. After gapping up and forming an island bottom on the daily chart, the S&P500 Emini reversed down strongly in a sell vacuum that tested last week’s high. As I have said several times, last week was a weak buy signal bar when compared to the strong bear bar […]
