Posted 7:01 a.m. The 1st 3 bars were dojis. This is tight trading range price action and it increases the chances of a lot of trading range price action today, and it increases the chances of a lot of tight trading range price action. Day traders will be willing to swing trade if there is […]
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.
Intraday market update: December 23, 2015
Intraday market update: December 22, 2015
Learn how to day trade a trend reversal
I will post around 7:04 a.m. The Emini sold off from above yesterday’s high, but the follow-through bars were bad for the bears. This increases the chances that the selloff will be a bear leg in a trading range. The bulls tried to reverse up from the 60 minute moving average, but the 3 big […]
Intraday market update: December 21, 2015
Learn how to day trade tight trading ranges after a sell climax
Posted 7:07 a.m. The Emini opened in a tight trading range just above the moving average. The bulls want an early low of the day and an opening reversal on the test of the moving average. The bears want a strong breakout below the moving average and a test of yesterday’s low. Because of the […]
Intraday market update: December 18, 2015
Al is away today for Mom’s 102 birthday!
My mother turns 102 on Saturday. She is still incredibly bright and reads constantly. She cannot hear well, and can no longer walk, but is happy and healthy. She was born when Henry Ford introduced the assembly line and in the year that the crossword puzzle was invented. Women could not vote, and they just […]
Intraday market update: December 17, 2015
Tip of the day is to expect profit taking
Posted 6:53 a.m. The Emini sold off strongly on the open from just above yesterday’s high. This is probably the start of 2 hours of sideways to down trading. The selling was strong enough to make a bull trend day unlikely. There is about a 75% chance that today will be either a trading range […]
Intraday market update: December 16, 2015
Learn how to trade when volatility is high
Posted 7:15 a.m. The Emini gapped up, but went sideways, and limit order traders made money buying and selling for the 1st many bars. This increases the chances of more trading range price action over the next couple of hours, and possibly right up to the 11 a.m. report. Traders will be cautious this morning, […]
Intraday market update: December 15, 2015
Learn how to trade follow-through price action
Posted 7:13 a.m. The Emini gapped up and began with a trend from the open bull trend. It stalled at the 60 minute bear trend line and formed a couple of bear bodies. When there is a big gap up and then a loss of momentum, the odds of a small pullback bull trend drop. […]
Intraday market update: December 14, 2015
Learn how to trade a sell climax at support
Posted 7:23 a.m. The Emini began with reversals, big bars, and a tight trading range. This was a limit order open and it increased the chances of a lot of trading range price action today, whether or not there is a trend up or down. The Emini reversed up from a wedge bottom at yesterday’s […]
Intraday market update: December 11, 2015
Online day traders are waiting for a catalyst
Posted 7:12 a.m. The Emini opened with a big gap down and then had trading range price action. The bears want a selloff today to below the November low and the September high. The bulls want a reversal up from above those levels. When there is a big gap down, the Emini often goes mostly […]
Intraday market update: December 10, 2015
Online day traders will watch for a breakout
Posted 7:09 a.m. The Emini continued its trading range price action from yesterday. Day traders need to see a strong breakout with follow-through up or down. The bears want a breakout below yesterday’s low and then a swing down. The bulls want a breakout above the 60 minute moving average and a swing up. Without […]