Posted 7:00 a.m. The Emini had an opening reversal down from the 15 minute moving average, and is always in short. Yesterday had a lot of two sided trading. The market is now between the support of the 60 minute moving average and yesterday’s low, and the resistance of the 15 moving average and yesterday’s […]
Intraday market update, March 17, 2015:
Intraday market update, March 16, 2015:
ABC pullback after the wedge trend reversal
Posted 7:00 a.m. The Emini yesterday ended always in long and gapped up today and rallied above the neckline of the 3 day double bottom. The bulls want to get above the lower high at 2075.00 because that was the most recent lower high in the bear channel. If the bulls succeed, then the 60 […]
Intraday market update, March 13, 2015:
Bear flag or a bull flag
Posted 7:00 a.m., and updated 7:05 a.m. The day opened with big bars and prominent tails at the 60 minute moving average and within yesterday’s tight trading range. This is trading range trading and it increases the chances that today will be a trading range day. Until there is a strong breakout up or down […]
Emini weekend update: March 14, 2015:
Pullback in a bull trend or a bear reversal
Monthly S&P500 Emini candle chart: Sell signal bar forming The monthly Emini candle chart is forming an ioi sell signal in an overbought bought bull trend, but there is still a lot of time before the bar closes and it could look bullish by the end of the month. The monthly S&P500 Emini candle chart […]
Intraday market update, March 12, 2015:
Oversold and at support
Posted 6:53 a.m. The Emini broke strongly above the 5 minute broad bull channel and had good follow-through on the breakout. The top of the 60 minute bear channel is around 2052, and that is an obvious target. With such a strong reversal up from such an oversold market, there is a 70% chance that […]
Intraday market update, March 11, 2015:
Trading range after the trend channel
Posted 6:54 a.m. Today opened with a doji within yesterday’s tight trading range. Yesterday was in a broad bear channel, which usually evolves into a trading range, and the day was mostly within a tight trading range. There are targets below and above. This increases the chances of a trading range day. Until there is […]
Intraday market update, March 10, 2015:
Bear trend channel
Posted 6:57 a.m. The Emini opened with a big gap down and then sold off further. Because it is so far below the moving average, it will probably go sideways to up soon for an hour or more until it gets closer to the moving average. At that point, the bears will try for a […]
Intraday market update, March 9, 2015:
Bear trend or a failed breakout
Posted 7:00 a.m. The Emini opened with a bull bar, but it had a tail on top. However, it was the 7th consecutive bull trend bar, and the Emini was always in long. Yesterday had a moving average gap bar at 11:15 a.m., and that usually is followed by a major trend reversal. Although the […]
Intraday market update, March 6, 2015:
Trading range and in breakout mode
Posted 6:50 a.m. The Emini had a big gap down, but reversed up again from the December high. Although the first several bars had bull bodies, they had prominent tails on top, which is a sign of a lack of conviction. When the market opens with a big gap and the reversal is not strong, […]
Emini weekend update: March 7, 2015:
Head and shoulders top
Monthly S&P500 Emini candle chart: Bear ioi sell setup in buy climax The monthly Emini candle chart has a bear inside bar this month following last month’s outside up bar. If the month stays this way, this month’s candle would be a sell signal bar. The monthly S&P500 Emini candle chart has not touched the […]
