Double top, micro double top, and island top will create 5% March correction I will update around 6:49 a.m. The Emini gapped down and did not have a bull body for the 1st 4 bars. It is therefore Always In Short. While today gapped down, the gap was small. In addition the 1st 3 bars […]
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.
Double top, micro double top, and island top will create 5% March correction
Emini island top, island bottom, and possibly second island top
Intraday market update: February 7, 2017
Emini island top, island bottom, and possibly second island top Updated 6:53 a.m. The Emini opened above yesterday’s high, but fell below yesterday’s high on the first bar. Hence, it closed the gap. Yet, it immediately reversed up for an opening reversal up from a test of yesterday’s high. The rally is similar to those […]
Daily island bottom and weekly ioi breakout mode candlestick pattern
Intraday market update: February 6, 2017
daily island bottom and weekly ioi breakout mode candlestick pattern Updated 6:50 a.m. The Emini opened in the middle of yesterday’s range and not at support or resistance. Therefore neither the bulls nor the bears were able to demonstrate strength on the open. Most days over the past several weeks were sideways for most of […]
Emini island top needs bear breakout before 5% stock market correction
Intraday market update: February 3, 2017
Emini island top needs bear breakout before 5% stock market correction Updated 6:47 a.m. The Emini gapped up and created another island bottom. Wednesday’s attempt failed. Since 2nd attempts have a slightly higher probability, traders will be more willing to swing trade if a bull trend begins. The 1st bar was a bear bar, and […]
Island top still valid after FOMC announcement
Intraday market update: February 2, 2017
Island top still valid after FOMC announcement Updated 6:53 a.m. While the Emini reversed up from below yesterday’s low with 2 bull bars, the bars were not particularly big. Furthermore, they failed to get above the moving average. While this is enough to make the Emini Always In Long, it is probably a minor reversal. […]
Breakout Mode before FOMC Fed interest rate hike announcement
Intraday market update: February 1, 2017
Breakout Mode before FOMC Fed interest rate hike announcement Updated 6:51 a.m. The Emini gapped up and formed an island bottom. Yet, it quickly formed doji bars. Hence, there is confusion. This increases the chances of an early trading range. While the early reversal attempt might be the high of the day, tight bull channels […]
FOMC Fed interest rate hike creating breakout mode
Intraday market update: January 31, 2017
FOMC Fed interest rate hike creating breakout mode Updated 6:51 a.m. The Emini opened with 4 dojis in the middle of yesterday’s 5 hour trading range. This neutral open increases the chances of a trading range day. Yesterday’s highs and lows are therefore targets. Because a strong trend day is unlikely at this point, the […]
Emini gap up means possible gap down and island top
Intraday market update: January 30, 2017
Emini gap up means possible gap down and island top Updated 6:47 a.m. The Emini gapped down and had a big bear trend bar and strong follow-through selling. Hence, the Emini is Always In Short. Yet, it is also a breakout test of the top of the 6 week trading range and a 50% pullback. […]
Dow 20,000 big round number and January Effect
Intraday market update: January 27, 2017
Dow 20,000 big round number and January Effect | Brooks Trading Course Updated 6:44 a.m. Today opened in the middle of yesterday’s range and tested yesterday’s low. Yesterday was a sell signal bar on the daily chart for a failed breakout above a 6 week trading range. Yet, this week’s rally was strong. Therefore, the […]
Dow 20,000 January effect all-time high breakout
Intraday market update: January 26, 2017
Dow 20,000 January effect all-time high breakout Updated 6:55 a.m. The bears made money selling above highs yesterday. That therefore increases the chances that the bull trend will transition into a trading range. Because the bulls keep getting higher lows, the bull trend is still in effect. Therefore, the bears need to get below prior […]