Monthly S&P500 Emini candle chart: Strong bull trend, but overbought The monthly Emini candle chart is in a strong bull trend, but it is very overbought. The monthly S&P500 Emini candle chart is in a strong bull trend, but it is very overbought and probably will have a 20% correction at some point this year. […]
Emini weekend update: January 24, 2015:
Intraday market update, January 23, 2015:
Buy climax that is testing resistance
Posted 7:06 a.m. The Emini opened with multiple reversals after yesterday’s buy climax. This is trading range behavior, which is typical after a buy climax. The rally yesterday was big enough so that there probably will be swing trades within the trading range, but at the moment, a trading range is most likely for the […]
Intraday market update, January 22, 2015:
Bull breakout of a wedge bear flag
Posted 6:45 a.m. The Emini broke above the top of the 5 day bull channel on the open. This is a wedge bear flag. It then reversed down, as expected. The bears are hoping for a bear trend day. The bulls would like the selloff to be a bear leg in a trading range. If […]
Intraday market update, January 21, 2015:
Breakout mode
Posted 7:15 a.m. The Emini opened with a strong opening reversal up from the 60 minute moving average. However, as expected in a trading range, the follow-through was bad and the market reversed down from its breakout above yesterday’s high. Even though the second bar of the day was a huge bull reversal, this bad […]
Intraday market update, January 20, 2015:
breakout of a bull flag
Posted 7:03a.m. The Emini reversed down strongly from above yesterday’s high and the top of yesterday’s bull channel and became always in short. However, yesterday’s rally was strong enough so that the bears will probably need a major trend reversal if this is to turn into a bear trend day. This means that there will […]
Emini weekend update: January 16, 2015:
bull flag on the daily chart
Monthly S&P500 Emini candle chart: Strong bull trend, but overbought The monthly Emini chart is forming an ioi breakout mode setup at the top of the bull channel, but in a very overbought bull trend. The monthly S&P500 Emini candle chart is still in a bull trend, but it is extremely overbought by at least […]
Intraday market update, January 16, 2015:
Breakout mode, testing support
Posted 6:50 a.m. The Emini reversed up from below yesterday’s low, but it did not yet break out above yesterday’s trading range. Until it does, the bears see the rally as a bull leg in broad bear channel. At the moment, it is always in long, but this is not helpful when the range is […]
Intraday market update, January 15, 2015:
Support at the bottom of the trading range
Posted 6:55 a.m. and I leave early today and tomorrow, Friday, and might not be able to post an end of the day update. The Emini ended yesterday always in long, but at the top of a spike and channel pattern. This usually evolves into a trading range. Today’s strong reversal down made the market […]
Intraday market update, January 14, 2015:
No post today because I am travelling
No post today because I am travelling. I will also only be trading for the 1st 2 hours on Thursday and Friday. Traders can see the end of the day bar-by-bar price action report by signing up for free at BrooksPriceAction.com. I talk about the detailed Emini price action real-time throughout the day in the […]
Intraday market update, January 13, 2015:
wedge bull flag within a 60 minute trading range
Posted 7:01 a.m. The Emini gapped above the 2 day wedge bull flag and opened with a big bull trend bar. It is always in long. However, the follow-through has been bad. This means bulls are taking quick profits, instead of buying above the high of the prior bar. If the bulls are not willing […]
