Posted 7:08 a.m. The Emini gapped up and had a trend from the open bull trend. The rally lacked big bull trend bars, and this increases the chances of an early trading range. Also, it reached last week’s trading range, and it might again go sideways here. Finally, the first 6 bars created a parabolic […]

Posted 7:25 a.m. The bears got follow-through selling, but the bulls are trying to create a major trend reversal. After the big sell climax on the 2nd and 3rd bars of the day occurring 100 bars into a bear trend, and after yesterday’s gap bars, the odds favor an early low of the day and […]

Posted 7:11 a.m. The Emini opened today with a continuation of yesterday’s weak bear channel. It is testing yesterday’s low, which was last week’s low. It should reach the weekly moving average today or tomorrow, and possibly within the first couple of hours. Because this selloff lacks consecutive big bear bars and is testing support, […]

Posted 7:07 a.m. The Emini sold off strongly on the open, but the selloff tested the bottom of a possible 5 day expanding triangle. Also, yesterday’s late trading range is a possible final flag, and a smaller expanding triangle. The bulls are hoping for an early low of the day. The bears want any early […]

Posted 7:15 a.m. The S&P Emini futures contract opened with a series of big bars and reversals, creating an early limit order market at yesterday’s low. It then reversed up strongly to the 60 minute moving average. It is always in long, but follow-through has been bad after strong breakouts for the past week, and […]

Posted 7:30 a.m. The bulls got an opening reversal at the moving average, and then rallied above yesterday’s high and the 60 minute bear trend line. However, the breakout so far has had weak follow-through buying and this increases the chances that the current bull leg will end up as part of a trading range. […]

Posted 7:09 a.m. The Emini sold off on the open, but reversed up from below yesterday’s low and the bottom of the 3 day trading range. The reversal was an expanding triangle bottom with a micro double bottom. However, the channel down from 68 yesterday was very tight, and this usually limits the extent of […]

posted 7:15 a.m. The Emini reversed down from the neckline of a double bottom from yesterday and sold off sharply to test yesterday’s low. The selloff was big enough to make a bull trend day unlikely, but since the Emini reversed up so strongly, a bear trend day is unlikely as well. The reversal up […]