Posted 6:53 a.m. The Emini began with an early selloff after yesterday’s strong rally. Big up, big down so there is big confusion, and confusion is a hallmark of a trading range. The Emini is Always In Short, but it is more likely that the selloff will be a bear leg in a trading range. […]
Intraday market update: January 21, 2016
Intraday market update: January 20, 2016
Price action day traders looking for a bottom
Posted 7:09 a.m. The Emini gapped below yesterday’s low and the bottom of the bear channel, but began with reversals, small bodies, and prominent tails. Bulls and bears were able to make profitable scalps. This is trading range price action and it increases the chances of more throughout the day. The bears then had a […]
Intraday market update: January 19, 2016
Day trading tip is to look for a rally this week
Posted 6:53 a.m. The Emini gapped up but sold off on the open for the 1st several bars. Although the bulls want an opening reversal up from the moving average and then a bull trend day, the size of the selloff makes that unlikely. This means that either a trading range or bear trend day […]
Emini weekend update for January 16, 2016:
Day trading tip is to look for a rally after the sell climax at support
Monthly S&P500 Emini futures candlestick chart: Triangle bull flag The monthly S&P500 Emini futures candlestick chart is having a 3rd push down in a trading range, creating a triangle. The monthly S&P500 Emini futures candlestick chart has 2 weeks left to the month and the candlestick pattern might be different from what it is today. […]
Intraday market update: January 15, 2016
Learn how to day trade at support
Posted 6:48 a.m. The Emini opened with a huge gap down to just below 60 minute moving average targets and just above the September low. It was also a 60 minute wedge bottom. It reversed up from the 1st bar. At the moment, it is Always In Long, and has about a 40% chance of […]
Intraday market update: January 14, 2016
Day traders expect trading range price action after sell climax
Posted 7:52 a.m. The Emini had a strong reversal up. I was trading actively and was delayed in posting this. The Emini is clearly Always In Long, but the rally is a buy climax at the 60 minute moving average. The odds are that it will go sideways to down for at least an hour […]
Intraday market update: January 13, 2016
Day traders expect the price action to remain sideways to up
Posted 7:06 a.m. Although the day failed twice above yesterday’s high, is overbought, and quickly became Always In Short, the 1st 2 bars had bull bodies, the 1st bar was a doji, and the Emini is still in a tight bull channel. There are reasonable arguments for the bulls and bears, and some trading range […]
Intraday market update: January 12, 2016
Day trading tip is to expect trading range price action
Posted 7:00 a.m. The Emini gapped up and formed a trend from the open bull trend, but the bodies were not big, the tails were prominent, and it was far above the moving average. It tested back into the October 5 gap as expected, and then tested down. This is a trading range open, and […]
Intraday market update: January 11, 2016
Learn how to trade a sell climax at support
Posted 7:03 a.m. Although the Emini sold off from the open, the follow-through bars were bad. Given the context, which favors 1 – 3 days of sideways to up, and the bad follow-through down, the odds are that this initial selloff will become a bear leg in a trading range. The selloff has been strong […]
Emini weekend update: January 9, 2016:
Price action favors a pullback after a sell climax
Monthly S&P500 Emini futures candlestick chart: Middle of trading range The monthly S&P500 Emini futures candlestick chart is back to the middle of the 2 year trading range and again below the moving average. The monthly S&P500 Emini futures candlestick chart has a bear trend bar for its candlestick pattern, but it is early in […]
