Posted 7:10 a.m. The Emini sold of sharply on the open and became Always In Short. The bulls want the selloff to lead to the low of the day. They hope for an opening reversal up from the micro double bottom at the 60 minute moving average and just above yesterday’s low. The selling was […]

Posted 7:13 a.m. Yesterday ended with a tight trading range, and today opened with sideways bars, prominent tails, and reversals. This increases the chances of trading range price action today before the 11 a.m. report. It is still Always In Long, but in breakout mode. The Emini reversed down from a 50% pullback of the […]

Posted 7:19 a.m. The Emini opened with a trend from the open bear trend. Since the selloff fell almost 9 points, which is a lot, and the 60 minute moving average is just above, the odds of a bull trend day are less. Because the 60 minute chart is so oversold and tomorrow is an […]

Posted 7:37 a.m. Thursday and Friday formed early double top bear flags that broke below the low of the day and were followed by bear trend days. Today also formed an early double top bear flag, but the 60 minute chart is so oversold that bears have to reduce position sizes by buying back some […]

I will post around 7:29 a.m. The Emini had follow-through selling on the open, and the selling often lasts for an hour or two. While it is possible to last all day, that is unlikely. More likely, the bulls will create a good buy signal bar within the next hour, and then there will be […]

Posted 7:43 a.m. The bears had a trend from the open bear trend, but failed to get below yesterday’s low, which was the bottom of the bull reversal. The bulls then formed a higher low major trend reversal, but failed to get above the top of the bear leg. The buy signal bar was big […]

Posted 7:23 a.m. The bulls reversed the Emini up from below yesterday’s low, triggering an expanding triangle bottom on the 5 minute chart and closing the gap down. The rally has been weak and this increases the chances of a deep pullback and then a trading range. Although it is possible for the Emini to […]

Posted 7:41 a.m. The Emini opened within yesterday’s tight trading range, and it was above the support magnets and below the moving average. It formed a wedge bear flag at the moving average, which was an opening reversal sell signal for a possible high of the day. The minimum targets were the 60 minute moving […]

Posted 7:15 a.m. The daily chart has a 9 bar bull micro channel and is therefore overbought. It is also at the top of the 6 month trading range, which is resistance. There were no bull bodies in the first 4 bars, and the Emini was Always In Short from the 2nd bar. The odds […]