Posted 7:15 a.m. Today is the next to the last full day of trading of 2014. The Emini gapped below yesterday’s low, which is the neckline for the double top of the past two days. It reversed up, but the reversal was weak, as expected in holiday trading. The Emini then reversed down after the […]
Intraday market update, December 30, 2014:
Intraday market update, December 29, 2014:
Gap down in a bull trend
Posted 6:50 a.m. The Emini opened with 4 consecutive bull bars and is always in long at the moment. The bears want a lower high major trend reversal. If the Emini goes above Friday’s all-time high, they want an expanding triangle top. The bulls want a trend from the first bar bull trend day and […]
Emini weekend update: December 27, 2014:
The breakout to a new all time high on the daily chart has been weak.
Monthly S&P500 Emini candle chart: Strong bull trend and no sign of a top The monthly Emini candle chart is in a strong bull trend, but it is testing the top of a bull trend channel. The monthly S&P500 Emini chart is in a strong bull trend, but it is overbought and at the top […]
Intraday market update, December 23, 2014:
failed breakout to a new all time high
Posted 6:50 a.m. The Emini gapped up, but the first bar was a bear reversal bar and the 5 and 60 minute charts are overbought. This is a possible failed breakout to a new all time high. The bulls want the gap to stay open and become a measuring gap, and the bears want it […]
Intraday market update, December 22, 2014:
strong breakouts will probably be rare
Posted 7:10 a.m. Yesterday ended with a reversal down after 3 days without much pulling back. The 5 minute chart is overbought, but can get move overbought before it evolves into a trading range. A failed breakout above yesterday’s high would create an expanding triangle top with the final hour of yesterday and a large […]
Emini weekend update: December 20, 2014:
Bull trend reversal after a breakout pullback on the daily chart
Monthly S&P500 Emini candle chart: Doji outside bar The monthly Emini candle closes in two weeks, and it is currently an outside doji candle that is testing the top of the bull trend channel. The monthly S&P500 Emini chart continues to be overbought and it is at the top of the bull trend channel, but […]
Intraday market update, December 19, 2014:
double top on the daily candle chart
Posted 7:05 a.m. Yesterday ended with consecutive buy climaxes above a bull channel, and today opened with a big bear reversal bar that was far above the moving average and the top of the channel. This was a reasonable short for a test down to the bottom of the channel, but with yesterday’s rally being […]
Intraday market update, December 18, 2014:
bull trend reversal after a test of support
Posted 7:08 a.m. The Emini had a big gap up and the first bar was a strong bear bar, but the 2nd bar was a strong bull bar with weak follow-through. This is a trading range open. The Emini has been working up from that 2nd bar and reached a new high. If the bulls […]
Intraday market update, December 17, 2014:
FOMC report
Posted 7:00 a.m. The Emini had a small gap above the tight bear channel and then rallied for several bars. The bears want the rally to be another lower high and for it to become to an opening reversal that leads to a push below yesterday’s low. The bulls want to get above and hold […]
Intraday market update, December 16, 2014:
60 minute wedge bull flag
Posted 7:05 a.m. The Emini is searching for a bottom and it probably will soon reverse up from a 60 minute wedge bull flag. However, there are still targets below and they may have to be reached before there will be a 60 minute rally. The Emini reversed up from below yesterday’s low and it […]
