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 6, 2015:
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 […]
Intraday market update, December 30, 2014:
double top trend reversal
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 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 […]
