The monthly S&P500 Emini candle closed on Tuesday and created a bear reversal bar The monthly Emini chart triggered a second entry sell signal this week by falling below last month’s low. It is too early to know what the entry bar will look like when it closes at the end of October. The monthly […]
Intraday market update, October 3, 2014: bear rally for day traders
End of day comments about today’s Emini price action and day trading The Emini had an opening reversal up from a pullback to the 60 minute moving average and just above yesterday’s high. It closed near the open of the week and created a big doji candle on the weekly chart. The Emini was overbought […]
Intraday market update, October 2, 2014:
End of day comments about today’s Emini price action and day trading The Emini had follow-through selling today, but reversed up after a parabolic wedge sell climax. The odds were high that yesterday’s bear channel would be a bull flag and that today would rally at some point for at least 20 bars. The bears […]
Intraday market update, October 1, 2014: bear trend for day traders
End of day comments about today’s Emini price action and day trading The Emini sold off sharply on the open and triggered a sell signal on the monthly chart by falling below last month’s low. The Emini triggered a monthly sell signal when it fell below last month’s low. Although it rallied sharply and formed […]
Intraday market update, September 30, 2014: trading range open for day traders
Although the Emini had big legs up and down, it was a big trading range day. End of day comments about today’s Emini price action and day trading The Emini reversed sharply up from a test of yesterday’s low, but the 9 point sell off made a bull trend day unlikely. After making a new […]
Intraday market update, September 29, 2014: bull trend reversal for day traders
End of day comments about today’s Emini price action and day trading The Emini reversed up from below yesterday’s low and then formed a trend resumption bull trend day. The early bull breakout (green bar) controlled the price action for the day. The Emini reversed up from below last week’s low, but every bull bar […]
Emini weekend update: September 28, 2014: weak weekly trend reversal
The monthly S&P500 Emini candle closes on Tuesday The monthly Dow Jones Industrial Average is at the top of an expanding triangle. However, most tops fail and become bull flags. The bull channel is so tight that bears would need many months to generate enough selling pressure to create a persuasive top. The monthly Emini […]
Intraday market update, September 26, 2014: breakout mode for day traders
The Emini had an early strong bull breakout (green) that dictated the price action for day traders today. End of day comments about today’s Emini price action and day trading Yesterday was a strong bear breakout candle on the daily chart. If this was a strong bear trend on the daily chart, today probably would […]
Intraday market update, September 25, 2014: bear trend on the open
Today was an exceptionally strong bear trend day. The big breakout was followed by a bear channel. End of day comments about today’s Emini price action and day trading Today triggered a second entry short on the weekly chart for a failed breakout above the July high. It is also a low 4 short in […]
Intraday market update, September 24, 2014: bear leg in a probable trading range day
The Emini reversed up strongly from below yesterday’s low in a lower low major trend reversal. End of day comments about today’s Emini price action and day trading As expected, the early selloff failed. The rally, however, was unusually strong and the Emini rallied to above yesterday’s high, forming an outside up bull trend day. […]
