August stock market correction not likely this week I updated this at 6:59 a.m. The Emini gapped up to a new all-time high. The bulls wanted the gap to stay open and for today to be another Trend From the Open bull trend. Yet, Friday was a tight trading range and their breakouts usually do […]
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.
August stock market correction not likely this week
Unemployment report stock market breakout
Intraday market update: August 5, 2016
Unemployment report stock market breakout Updated 6:56 a.m. The Emini gapped up and formed a Buy The Close rally to a new all-time high. The bears want a failed breakout above the 3 week trading range. However, the bulls want a Pain Trade rally and a strong bull trend day, like a Spike and Channel […]
Trading the unemployment report breakout
Intraday market update: August 4, 2016
Trading the unemployment report breakout Updated 6:54 a.m. The bulls broke above yesterday’s high on the open and therefore triggered the buy signal on the daily chart. Yet, the first few bars were not strongly bullish. Furthermore, the rally has lasted about 120 bars without much of a pullback. Especially relevant is that the bears […]
Learn to trade trading range breakouts
Intraday market update: August 3, 2016
Learn to trade trading range breakouts Updated 7:05 a.m. Today opened with a bear breakout below yesterday’s bull channel. Yet, the Emini reversed up from an Opening Reversal. The follow-through stalled at the top of yesterday’s rally. It then turned down in an attempt at an Opening Reversal down. When there are both credible top […]
Emini expanding triangle top
Intraday market update: August 2, 2016
Emini expanding triangle top Updated 7:02 a.m. While the bears want a 2nd leg down from yesterday’s strong selloff, the initial selling today had bad follow-through. A Leg 1 = Leg 2 Measured Move down is near the bottom of the 3 week trading range. The Emini is Always In Short, yet the bears have […]
August stock market correction
Intraday market update: August 1, 2016
August stock market correction Update around 7:11 a.m. The Emini sold off to the 60 minute moving average and the bottom of Friday’s parabolic bull channel. Yet, the follow-through was bad. Limit order bulls and bears made money in the first 6 bars. This increases the chances of the trading range price action of the […]
Day trading the last day of the month
Intraday market update: July 29, 2016
Day trading the last day of the month Updated around 6:57 a.m. The Emini opened at the 60 minute moving average, which is the middle of the 12 day tight trading range. The 1st bar was a big bull trend bar, but the follow-through was bad. This reduces the chances of an hour or two […]
Day trading an August stock market bear trend
Intraday market update: July 28, 2016
Day trading an August stock market bear trend Updated 6:55 a.m. The Emini had consecutive outside days within a tight trading range. Hence, there is resistance to breaking out above or below the prior day. An outside day, especially within a tight trading range, increases the chances of an inside day. Consecutive outside days increase […]
How to trade July FOMC Report
Intraday market update: July 27, 2016
How to trade July FOMC report Updated 6:55 a.m. The Emini reversed down from above yesterday’s high and from 2 ticks below last’s week’s all-time high. However, the selloff had bull bars after bear bars. This is more typical of a weak bear trend, a trading range, or an Opening Reversal. Since the Emini is […]
Day trading the FOMC report tomorrow
Intraday market update: July 26, 2016
Getting ready to day trade tomorrow’s FOMC report: Updated 6:59 a.m. The Emini opened with a Trend From The Open Bull Trend. There is no Parabolic Wedge Top yet. The odds are that the 1st reversal down will be bought. While the rally is a buy vacuum test of yesterday’s high and a possible high […]