I will post around 6:56 a.m. The day opened within yesterday’s trading range and entered breakout mode. The bulls want either a small buy signal bar near the bottom or a strong bull breakout, and the bears want either a small sell signal bar near the top or a strong bear breakout. Until then, scalpers […]

Posted 7:19 a.m. The Emini sold off strongly on the open from a gap up to the 60 minute moving average and a test of yesterday’s high to far below yesterday’s low. This selling has been extreme and therefore climactic. While it could continue all day, it more likely it will run out of sellers […]

Posted 6:45 a.m. The Emini opened with a big gap down and traded below yesterday’s low, the 60 minute moving average, and the breakout point at the top of the bear flag on the daily chart (the January 27 high). However, the odds are that there will be buyers below yesterday’s low. As bearish as […]

Posted 7:10 a.m. The Emini gapped down to the 15 minute moving average and entered a tight trading range. This is a 20 gap bar buy setup on the 15 minute chart after Friday’s strong bull trend, and that will tend to limit the downside. The big gap down will tend to limit the upside. […]

Posted 7:15 a.m. The Emini opened with a trend from the open bull trend and is Always In Long. Although the rally lacks consecutive big bull bars and tails were prominent, an 8 bar bull micro channel without any bear bodies is enough to make traders buy the 1st pullback for a scalp. With the […]

Posted 7:01 a.m. The Emini opened with a big gap up above the 60 minute moving average and testing the top of yesterday’s bear channel. It then entered a tight trading range. This big gap up after yesterday’s big selloff creates a Big Down, Big Up, Big Confusion pattern and it increases the chances of […]

Posted 7:15 Today is an FOMC report day. Day traders should wait for at least 2 closes after the report before entering. The initial move reverses about half of the time. During the 1st 5 bars, bulls made money with limit orders twice, as did the bears. This is a limit order market and it […]

Posted 7:02 a.m. The Emini got close to the top of the bear leg and broke above the 60 minute moving average, but reversed down. However, bull scalpers had 5 chances to make money in the 1st 5 bars, and the bear follow-through after the 2 bear bars was bad. This is trading range price […]

Posted 7:09 a.m. The Emini began with 4 consecutive bear bodies, but the bars had prominent tails, and stayed within yesterday’s trading range. This is trading range price action, which is also present on the 60 minute and daily charts. Although the Emini will probably trade below Friday’s low or today’s low this week, it […]