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 […]
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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 […]
Intraday market update, June 25, 2014: major trend reversal
Posted 7:45 am PST. Yesterday ended with consecutive sell climaxes in a tight channel, so 2/3 chance of a major trend reversal today with at least 20 bars and 2 legs up. The market had a lower low major trend reversal on the first bar and became always in long. After a reasonably strong 5 […]
Intraday market update, June 24, 2014: wedge top and trend reversal day
Posted after the close, but this is from the discussion in the chat room today. Today had a parabolic wedge top and trend reversal after an early rally off the 60 min 20 bar exponential moving average. The Emini became always in long on the second bar and then rallied strongly up to a parabolic […]
Intraday market update, June 23, 2014: Trading range day
Posted 9:23 am PST. Yesterday had a 3.5 point range, making it one of the smallest days of the past few years. It formed a sell signal on the daily chart for a final flag trend reversal. Like most trend reversals, the risk is small, but this means that the probability is small as well. […]
