Monthly S&P500 Emini futures candlestick chart: Small breakout of 6 month tight trading range The monthly S&P500 Emini futures candlestick chart is breaking above a 6 month trading range. The monthly S&P500 Emini futures candlestick chart has been above its moving average for 34 months and there is an 80% chance that it will touch […]
Emini weekend update: May 16, 2015:
Intraday market update: May 15, 2015
Learn how to trade a new high
Posted 7:35 a.m. Today is a Friday and the Emini will pay attention to weekly support and resistance in the final hour. The most important prices are the all-time high of 2 weeks ago, and the open of the week, which is also the February high. Although the Emini opened at a new all-time high, […]
Intraday market update: May 14, 2015
Day trading tip is to be ready for a test of last week’s lower high
Posted 7:15 a.m. The Emini gapped above yesterday’s high, and immediately sold off, becoming Always In Short. However, it reversed up from a small double bottom and is rallying for a test last week’s lower high at 2113.50. At the moment, it is Always In Long and will probably have at least one more leg […]
Intraday market update: May 13, 2015
How to trade futures online while in breakout mode
Posted 7:11 a.m. The Emini broke about above yesterday’s high and the top of the bull channel from yesterday on the first bar, but the follow-through was disappointing for the bulls. This increases the chances of a trading range day. The bears tried to reverse the Emini, but the selloff stalled at yesterday’s high after […]
Intraday market update: May 12, 2015
Candlestick pattern is an island top
Posted 7:05 a.m. The bears had a trend from the open bear trend, but the bulls created an opening reversal up from a test of the December high, after a sell climax. The selloff alternated bull and bear bars, and the initial rally had tails on the tops of the bars. This is trading range […]
Intraday market update: May 11, 2015
Day trading strategies for a possible lower high
Posted 7:12 a.m. Friday’s tight trading range has been continuing. Traders are waiting for a breakout above last week’s lower high of 2115, or below yesterday’s low. The Emini is still Always In long, but this is meaningless when it is in a tight trading range. Swing traders have to wait for a strong breakout […]
Emini weekend update: May 9, 2015:
Learn how to trade a top
Monthly S&P500 Emini futures candlestick chart: Opportunity to learn how to trade a top The monthly S&P500 Emini futures candlestick chart has been in a tight trading range for for 7 months. The monthly S&P500 Emini futures candlestick chart is in a 7 month tight trading range and it has not touched the moving average […]
Intraday market update: May 8, 2015
Trading price action after a gap up
Posted 7:00 a.m. Although there was a big gap up and follow-through buying, there were bear bars after the bull bars and the Emini is far above the moving average. This makes it likely that the opening rally will become a bull leg in a trading range. The Emini might test down to the low […]
Intraday market update: May 7, 2015
day trading tip is to look for a trend reversal up today
Posted 7:05 a.m. Limit order traders were able to make money buying and selling in the first half hour, and that happens in 2 sided markets. The Emini is beginning with a trading range and will probably be in breakout mode. The rally from yesterday’s low was strong enough so that any early selloff will […]
Intraday market update: May 6, 2015
Intraday trading strategy after a sell climax
Posted 7:15 a.m. The Emini futures contract gapped up on the open, but then sold off strongly below yesterday’s low. The bulls want an abrupt reversal, like April 28. If they get their reversal, it will probably be more like April 14…they will probably need to go sideways for 5 – 10 bars and create […]
