Posted 7:24 a.m. The Emini ended with a small rally Friday. It formed a double top bear flag, and today’s open fell below yesterday’s low, which was the neckline of the bear flag. It fell for more than a measured move down, and it tested the September low, which is the bottom of the month […]
Intraday market update: September 28, 2015
Emini weekend update: September 26, 2015:
Learn how to trade a doji candlestick pattern
Monthly S&P500 Emini futures candlestick chart: Learn how to trade a doji candlestick pattern The monthly S&P500 Emini futures candlestick chart closes on Wednesday. It is currently a doji at the monthly moving average, but that might change early next week. The monthly S&P500 Emini futures candlestick chart is neutral going into next week. Bulls […]
Intraday market update: September 25, 2015
Traders learning how to trade the markets will look for a bull trend
Posted 7:24 a.m. The Emini gapped up above yesterday’s high, the low of last week, and yesterday’s bull channel, but immediately found sellers. The low of last week might be the most important magnet today, as I discussed below. The Emini began with a tight trading range within Tuesday’s and Wednesday’s range. The bears wanted […]
Intraday market update: September 24, 2015
Learn how to trade the markets near the bottom of a trading range
Posted 7:31 a.m. The Emini began with a series of bear trend bars after its gap down, but because the past 4 days have been mostly sideways and the Emini is near support, bears know that a reversal up and low of the day can happen at any time. This makes them quick to take […]
Intraday market update: September 23, 2015
Learn how to trade the markets after a Globex bull trend reversal
Posted 8:06 a.m. The Emini opened again in a tight trading range, which increased the chances of a lot of trading range price action today. The odds are that the Emini will rally to test the 1969 lower high by the end of the week. It is in a trading range on the daily chart, […]
Intraday market update: September 22, 2015
Learn how to trade a big gap down
Posted 7:12 a.m. The Emini began with a trading range open, which meant that day traders began to look for a double bottom or wedge bottom to buy, or a double top or wedge top to sell. It was a limit order market initially. The bulls wanted a reversal up above last week’s low because […]
Intraday market update: September 21, 2015
Learn how to trade the markets with minor reversals
Posted 7:20 a.m. The Emini had 4 doji bars in the first 5 bars, and entered a breakout mode market. This initial trading range price action increases the chances for a lot more trading range price action today, and it reduces the chances of a strong trend day up or down. Traders need to see […]
Emini weekend update: September 19, 2015:
Traders learning how to trade the markets should be ready for a head and shoulders top
Monthly S&P500 Emini futures candlestick chart: Candlestick pattern is a bull flag The monthly S&P500 Emini futures candlestick chart is forming a bull flag at the moving average. The monthly S&P500 Emini futures candlestick chart finally pulled back to the moving average after 38 months above it. The buyers at the moving average have been […]
Intraday market update: September 18, 2015
Learn how to trade the markets in a bear leg
Posted 7:26 a.m. PST The Emini had a strong bull reversal on the 1st bar, but then weak follow-through. Although the Emini became Always In Long on the first bar, the bad follow-through made a trading range likely. The bulls want a bull channel or a double bottom HL MTR. The measured move up is […]
Intraday market update: September 17, 2015
Day trading tip for an FOMC meeting
Posted 7:19 a.m. The Emini opened with a tight trading range within yesterday’s trading range. It initially was a limit order market, and this increased the chances for a lot of trading range price action before the FOMC announcement at 11 a.m. Day traders hope that there will be a breakout with follow-through in either […]
