Posted 6:55 a.m. The Emini gapped up, but sold off on the open. Three of the 1st 4 bars were dojis. This is trading range price action, and it increased the chances for more trading range price action for the rest of the day. This is a trading range open. Online day traders want to […]

Posted 7:03 a.m. The Emini had a buy climax at the open that reversed down strongly from a wedge top. The 2 strong bear bars made the Emini Always In Short. Since yesterday’s bull channel was so tight, the odds are that the selloff will lead to a trading range rather than a bear trend. […]

Posted 7:12 a.m. The Emini got follow-through selling on the open, which happens about 50% of the time when there is a big gap down. There is a 75% chance of a trading range or early low of the day and only a 25% chance of a continued selloff. If there is a 2 hour […]

Posted 7:05 a.m. Yesterday was a sell signal bar for a double top with the February 1 high, and for a wedge rally over the past 2 weeks. The odds were that today would trigger the short by going below yesterday’s low, and then traders would look for either a selloff or a reversal up. […]

Posted 7:15 a.m. As I expected, the Emini went above the February 1 lower high early today. It is Always In Long and in a trend from the open bull trend. Five of the 1st 6 bars were small, which is a sign of trading range price action. A big gap up that rallies on […]

Posted 7:05 a.m. After a gap down and a big bear bar, the Emini was in a trading range open. The 2nd bar of the day was the biggest bear bar in 100 bars. That makes it more likely an exhaustive end of the bear trend than the start of a new leg down. However, […]

Posted 7:07 a.m. The Emini sold off on the open to below the bottom of the 4 hour trading range, which was the low of the last 2 hour bar. That was the 1st pullback in a 14 bar bull micro channel on the 120 minute chart. Traders do not yet know if the double […]

I will post around 7:03 a.m. The Emini gapped up and tested the top of the channel, but did not reverse down strongly. The 60 minute chart is overbought and TBTL sideways to down is likely to begin today or tomorrow. The bulls want the tight channel to continue up for many more days. That […]

Posted 6:49 a.m. The Emini opened with a big gap up, but had 2 strong bear bars followed by a bull bar. The gap up made the Emini overbought, and the strong bear bars were a sign that traders were willing to sell. This increased the chances of mostly sideways to down trading for a […]

Posted 7:09 a.m. The Emini gapped above yesterday’s high and formed an island bottom on the daily chart. However, the first bars were small and had small bodies with a lot of overlap. Although 4 consecutive bear bars made the market Always In Short, this was a limit order open, and traders were waiting for […]