Posted 6:52 a.m. Yesterday ended always in short because of the selloff at the end of the day, but the 2nd half of the day was still a trading range. Today open within that trading range, which increases the chances of more trading range trading. However, the first four bars were big bear bars, and […]
Intraday market update, January 12, 2015:
Emini weekend update: January 10, 2015:
bull trend evolving into a trading range
Monthly S&P500 Emini candle chart: Overbought bull trend, forming more trading range price action The monthly candle chart is in an early tight trading range. This month so far is an inside doji candle and it follows last months outside doji candle. The monthly S&P500 Emini candle chart is in a strong bull trend, but […]
Intraday market update, January 9, 2015:
trend reversal or trend resumption.
Posted 6:45 a.m. The Emini opened with a huge bear trend bar and that made the Emini always in short. It might bounce and test yesterday’s high, but at the moment, the odds are probably 50% or better that we have seen the high of the day. The head and shoulders bottom measured move target […]
Intraday market update, January 8, 2015:
gap up but possible buy climax
Posted 6:53 a.m. Today opened with a big gap up but possible buy climax. Although the Emini might work sideways to the moving average, the odds of a bear trend day are small at this point. The bears would need a strong reversal with follow-through, and that would be unusual unless there was a rally […]
Intraday market update, January 7, 2015:
Rally after a sell climax
Posted 7:10 a.m.> The Emini gapped up and the bulls want to get above yesterday’s high, which is the top of the last 60 minute sell climax. After a weak rally on the open to the resistance of the 60 minute moving average, swing traders will wait for a strong breakout up or down before […]
Intraday market update, January 6, 2015:
Trading range after a sell climax
Posted 7:15 a.m. The Emini opened at the top of yesterday’s 4 hour tight trading range after a sell climax on the 60 minute chart, and began with tight trading range price action. It was a limit order market on the open. Swing traders are waiting for a breakout with follow-through in either direction. Until […]
Intraday market update, January 5, 2015:
Wedge top and island top trend reversals
Posted 7:10 a.m. Today opened with a small gap down, but it closed within the first second. The bears wanted it to be the start of an island top on the daily chart and for it to become a measuring gap. Although the Emini opened always in short from yesterday’s bear close and today’s gap […]
Emini weekend update: January 3, 2015:
Buy climax on the monthly candle chart
Monthly S&P500 Emini candle chart: Buy climax on the monthly candle chart, but no top yet Last month’s candle in the Emini was an outside bar, but it was only a doji instead of a strong bull trend bar. The Emini is in a strong bull trend. It is overbought and at the top of […]
Intraday market update, January 2, 2015:
Attempting a bull trend reversal after a sell climax
Posted 7:10 a.m. The Emini had a big gap up, but then had an opening reversal down from the 15 minute moving average. It also formed a double top with the final lower high of yesterday. At the moment, it is always in short and it might test yesterday’s low, or even break below yesterday’s […]
Intraday market update, December 31, 2014:
pullback in the 60 minute bull trend
Published 7:15 a.m. PST The Emini began with a trading range open, as expected. Day traders will look to scalp until there is a strong breakout with follow-through in either direction. If there is, they will then swing trade part of their position. Scalpers will probably have to enter mostly with limit orders and use […]
