Monthly S&P500 Emini futures candlestick chart: Almost to EMA The monthly S&P500 Emini futures candlestick chart is now only about 30 points above its moving average. I have been saying that there was an 80% chance of it penetrating the moving average this year, and it will probably happen this month or next, and possibly […]
Emini weekend update: August 22, 2015:
Intraday market update: August 21, 2015
Learn how to trade the markets after a sell climax
Posted 7:15 a.m. The Emini opened with a big gap down below the March low after a huge sell climax yesterday, and reversed up from a trend from the open bull trend. The bears are trying to reverse the market down and keep the gap below yesterday’s low open, but the selling yesterday was so […]
Intraday market update: August 20, 2015
Possible buy candlestick pattern since the price action is oversold
Posted 7:35 a.m. The Emini opened with a big gap down to near the bottom of the 60 minute trading range. The bars had about twice the normal volume so the market clearly feels that this is an important location. It had an opening reversal down from just below yesterday’s low, but the follow-through after […]
Intraday market update: August 19, 2015
Price action trading strategies in a trading range
Posted 7:17 a.m. The Emini began with a gap down and a trend from the open bear trend. It had a sell climax down to the bottom of the 4 day trading range. The bulls are hoping for an early low of the day. They want this selloff to be a sell vacuum down to […]
Intraday market update: August 18, 2015
Trading price action after a buy climax
Posted 7:26 a.m. The Emini had an opening reversal up from the 15 minute moving average. It also had a few moving average gap bars. When they form late in a bull trend, they often lead to the final bull leg before an attempt at a major trend reversal. However, there has been weak follow-through […]
Intraday market update: August 17, 2015
Online day traders expect more trading range price action
Posted 7:19 a.m. Today sold off below yesterday’s low on the open, but had bad follow-through. The bulls tried to create an expanding triangle bottom for a possible low of the day, and the bears wanted a strong breakout below yesterday’s low for a test of the 2068 area, which is the bottom of the […]
Emini weekend update: August 15, 2015:
Learn how to trade futures when there is a wedge bull flag
Monthly S&P500 Emini futures candlestick chart: Breakout will be soon The monthly S&P500 Emini futures candlestick chart remains in its 7 month tight trading range. The monthly S&P500 Emini futures candlestick chart will probably breakout within the next few months. It has an 80% chance of a bear breakout and a test of the monthly […]
Intraday market update: August 14, 2015
Learn how to trade online in a pullback
Posted 7:19 a.m. The Emini had 6 bull bodies in the 1st 6 bars, but it could not create consecutive strong bull bars, and the rally was still in the middle of yesterday’s trading range. This is trading range price action, even though it was bullish enough to make the Emini Always In Long. Because […]
Intraday market update: August 13, 2015
Learn how to trade futures after a rally
Posted 7:47 a.m. The Emini tested yesterday’s high on the open, and could not get above it. This is similar to July 8, which also followed a huge bull day. Day traders have to be aware that yesterday was a big day, and today might try to be an inside day, which means an early […]
Intraday market update: August 12, 2015
Learn how to trade legs in a trading range
Posted 7:24 a.m. The Emini opened with a big gap down to around the bottom of the 60 minute trading range, and it then entered a bear channel where the follow-through was bad for the first 7 bars. This increased the chances that the selloff will evolve into a trading range within the couple of […]
