Greater fools theory crowded trade Because I will not be trading today, I will be unable to provide an update. Pre-Open Market Analysis The Emini made a new high again yesterday and formed a 5 day island bottom. However, there was no enthusiasm. The day was small and sideways. While yesterday was an entry bar […]
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.
Greater fools theory crowded trade
Emini island bottom bull breakout
Intraday market update: August 23, 2016
Emini island bottom bull breakout Updated 6:46 a.m. While the Emini gapped up to a new high and formed an island bottom, the breakout was weak. The Emini is Always In Long, and the bulls still want a bull trend day. Yet, these 1st few bars make a strong bull trend day less likely. More […]
S&P500 stock market wedge rally buy climax
Intraday market update: August 22, 2016
S&P500 stock market wedge rally buy climax Updated 6:56 a.m. The Emini sold of on the 1st bar to test yesterday’s low. Yet, this was followed by a pair of dojis and a 4 bar tight trading range. Limit order bulls and bears made money in the 1st few bars. Hence, these are signs that […]
Emini head and shoulders top
Intraday market update: August 19, 2016
S&P500 Emini head and shoulders top, but most tops fail Updated 6:54 a.m. While the Emini opened with strong bear bars and a breakout below yesterday’s double top, many days over the past 6 weeks have had similar opens that led to Opening Reversals. The bears want a close below last week’s low. Hence, this […]
S&P500 Emini head and shoulders top
Intraday market update: August 18, 2016
S&P500 Emini head and shoulders top Updated 6:56 a.m. Yesterday’s breakout was strong enough to have a 3rd push up today. While the pullback from the breakout overlapped the breakout point, the overlap was not too much. Therefore the gap might be a Negative Gap. Hence, it still might result in a Measured Move up. […]
Emini island top reversal pattern
Intraday market update: August 17, 2016
Emini island top reversal pattern Updated 6:59 a.m. The Emini opened with a Sell The Close selloff. The bears want to get below last week’s 2167.75 low, which would make this week an outside down week. The bulls always want the opposite and will buy above last week’s low. They therefore are trying to create […]
S&P500 testing 2200 big round number
Intraday market update: August 16, 2016
S&P500 testing 2200 big round number Updated 7:02 a.m. Today opened with a gap down. Yesterday therefore was a 1 day island top. While many tops and bottoms begin with island tops and bottoms, most island tops and bottoms become parts of a trading range. Hence, it is not strongly bearish. The 3 consecutive bear […]
S&P500 2,200 resistance
Intraday market update: August 15, 2016
S&P500 2,200 resistance Updated 7:00 a.m. The Emini gapped up and made a new all-time high on the open, and began with a Buy The Close rally. Yet, the 1st 3 bars had prominent tails, and limit order bears made money. While bullish, this is a sign that the bulls are not especially strong yet. […]
S&P500 Emini wedge top testing 2200
Intraday market update: August 12, 2016
S&P500 Emini wedge top testing 2200 Updated 7:08 a.m. Yesterday was a Micro Double Top on the daily chart and therefore a sell signal bar for a failed breakout above the 3 month trading range. Yet, it had a bull body, which lowers the probability for bears selling below yesterday’s low. Today began with a […]
Emini nested top reversal down
Intraday market update: August 11, 2016
Emini nested top reversal down Updated 6:53 a.m. While the Emini gapped up and traded above yesterday’s high, the 1st several bars overlapped and had prominent tails. This trading range price action is similar to yesterday’s open, and it reduces the chances of a strong trend day. Yet, there will probably be at least one […]