Probable Fed interest rate hike correction after buy climax Updated 6:52 a.m. The Emini opened in the middle of yesterday’s range and reversed up from a pullback to the moving average. This Opening Reversal was strong enough to make the low a likely low of the day. Yet, the bulls need a strong breakout above […]
Market Update Report for the S&P500 Emini (ES) and Forex (EURUSD) will be available to logged-in Brooks Trading Course members at about 6:20am US Pacific Time each day. The update will be available to everyone, including visitors, about 2 hours after market open.
Probable Fed interest rate hike correction after buy climax
Trump rally stalling from FOMC rate hike and not Russia
Intraday market update: March 7, 2017
Trump rally stalling from FOMC rate hike and not Russia Updated 7:03 a.m. The Emini sold off below yesterday’s low. It therefore closed the big gap up from last week. Hence, that gap is now an exhaustion gap. An exhausted buy climax usually leads to a trading range and not an immediate bear trend. Once […]
Trump rally is buy climax stalling at 2400 resistance
Intraday market update: March 6, 2017
Trump rally is buy climax stalling at 2400 resistance Updated 6:47 a.m. While today gapped down and formed a 3 day island top, the gap was small. In addition, the bears lacked consecutive big bear bars closing on their lows. Hence, they lack conviction. As a result, the odds are they will prefer to sell […]
Possible Emini island top and exhaustion gap
Intraday market update: March 3, 2017
Possible Emini island top and exhaustion gap Updated 6:42 a.m. Because the bears failed to get a gap down, the odds are that today will not be a big bear trend day. As strong as the 2 day selloff has been, it is only a 50% pullback to the 60 minute moving average. Yet, the […]
Trump speech rally above Dow 21,000, but buy climax
Intraday market update: March 2, 2017
Trump speech rally above Dow 21,000, but buy climax I will update around 6:48 a.m. Yesterday’s sell climax continued on the 1st bar, but reversed up on the 2nd bar. The bulls will probably need at least a double bottom over the 1st hour if this is an early low of the day. The bears […]
Trump speech gap up buy climax to all-time high
Intraday market update: March 1, 2017
Trump speech gap up buy climax to all-time high Updated 6:57 a.m. While the Emini gapped up to a new all-time high, the 1st several bars hesitated. In addition, the open was the low of the day. That rarely lasts and therefore the odds are that the Emini will trade below the low at some […]
Stock market breakout mode before March 15 FOMC rate hike
Intraday market update: February 28, 2017
Stock market breakout mode before March 15 FOMC rate hike Updated 6:45 a.m. The Emini formed an expanding triangle top over the past several days. Hence, that is a higher high major trend reversal. While today gapped down and triggered the sell, the 1st bar was a doji. Therefore, there is not much urgency. In […]
Emini exhaustion gap and possible buy climax island top
Intraday market update: February 27, 2017
Emini exhaustion gap and possible buy climax island top Updated 6:46 a.m. Despite Friday’s strong bull close, the Emini reversed down after testing Friday’s high. Since Friday’s rally was strong, this is probably a Big Up, Big Down, Big Confusion open. Hence, the Emini will probably go sideways around a 50% pullback from Friday’s rally. […]
Trump rally stalling before possible FOMC March rate hike
Intraday market update: February 24, 2017
Trump rally stalling before possible FOMC March rate hike Updated 6:55 a.m. The Emini gapped down and created a 3 day island top. Yet, it immediately rallied above yesterday’s low and closed the gap. While there were consecutive bull bars, which made the Emini Always In Long, the bars were not especially big. Furthermore, the […]
Trump rally is exhaustive buy climax at measured move targets
Intraday market update: February 23, 2017
Trump rally is exhaustive buy climax at measured move targets Updated 6:45 a.m. While the Emini gapped up to a new all-time high, it sold off on the 1st 2 bars. Since this is a 3rd push up on the 60 minute chart, it is a wedge top. Yet, there is still room to the […]