Posted 6:55 a.m. The Emini reversed down strongly from a test of the 60 minute moving average and became always in short on the 2nd bar of the day. The odds are that today will be a bear trend day, but it still might become a trading range day. Less likely, it would become a […]
Intraday market update, February 20, 2015:
Intraday market update, February 19, 2015:
Pullback to test support
Posted 6:57 a.m. The Emini reversed up from below yesterday’s low and formed a 2 day high 2 buy setup. If the bulls are able to rally to a new high, the rally will probably fail and create a final flag top. This would create a bigger pullback. The bears are hoping that this 2 […]
Intraday market update, February 18, 2015:
Buy climax and trend exhaustion
Posted 6:53 a.m. Today gapped below the trading range and reversed up from the bull trend line. However, it did not yet reach the 60 minute moving average and it has not yet broken above yesterday’s trading range. Both of these increase the chances of a test down today. If the bulls can break strongly […]
Intraday market update, February 17, 2015:
Posted 6:54 a.m. The Emini opened in the middle of yesterday’s range, and yesterday was a trading range day. Most of the days of the past several weeks began with a tight trading range that lasted about an hour, and today is similar. The gap down might be all of the correction that the bears […]
Emini weekend update: February 14, 2015:
Bull breakout and trend resumption
Monthly S&P500 Emini candle chart: Bull breakout and trend resumption The monthly Emini candle chart broke out to a new all-time high, but it is at the top of the channel and it is overbought. The monthly S&P500 Emini candle chart had a bull breakout and trend resumption. It broke below an ioi sell signal […]
Intraday market update, February 13, 2015:
Double top or bull breakout
Posted 6:55 a.m. The Emini broke above the top of the bull channel on the open and it formed a new all-time high. However, the rally lacked consecutive big bull trend bars. Also, yesterday was in a tight channel for 4 hours, and that is extreme behavior. Although the Emini is always in long, it […]
Intraday market update, February 12, 2015:
Bull trend channel
Posted 6:57 a.m. Most days over the past 2 weeks have begun with tight trading range trading within the first hour, and today followed that pattern for the first few bars. Because of the gap up to the top of a channel, and because yesterday’s strong rallies both fell below their breakout points, the odds […]
Intraday market update, February 11, 2015:
Buy climax testing resistance
Posted 6:49 a.m. The day began with several dojis and a limit order market, as it has for most of the days over the past couple of weeks. When that is the case, traders wait for a strong breakout up or down with follow-through before they will swing trade. At the moment, the Emini is […]
Intraday market update, February 10, 2015:
Breakout of a bull flag
Posted 7:03 a.m. The Emini opened above yesterday’s high and then formed a small tight trading range. This was a trading range start and it reduced the chances of a strong trend day today. Traders need a strong breakout with follow-through to be comfortable with swing trading. Without that, they are more inclined to take […]
Intraday market update, February 9, 2015:
Pullback at the top of the trading range
Posted 7:00 a.m. The day began with a tight trading range at yesterday’s low. The bulls were hoping for a wedge bottom, and the bears wanted an opening reversal down from the moving average. Several days last week had a similar open. When the Emini looks like this, traders are hesitant to swing trade until […]
