Posted 7:05 a.m. The Emini opened with a big gap down. It tested yesterday’s higher low and tried to form a big double bottom bull flag. It has been in a tight trading range and it is in breakout mode. Since it is at support, the odds favor a bull breakout and a measured move […]

Posted 7:15 a.m. Yesterday ended with an expanding triangle bottom at the bottom of a 4 day trading range. Today had an early higher low major trend reversal, but the 4 bull bars were not big and had tails. This is more trading range price action. Bulls and bears made money with limit order scalps, […]

Posted 6:55 a.m. The Emini opened with a big gap down, and it sold off on the open. When there is a big gap down and an early selloff, the selloff usually lasts about 5 – 10 bars and then the Emini goes sideways to up to the moving average over the next couple of […]

Posted 7:07 a.m. The bulls tried for follow-through buying on the open, but the rally lacked consecutive big bull trend bars. It is still unclear if there will be an hour or two rally and then a trading range, or if the 2 hour sideways to down price action has already begin. The odds of […]

Posted 6:57 a.m. The Emini opened with a big gap down and 3 bear bars, but both had big tails below, and bull scalpers made money buying at the low of the prior bar. That is not what typically happens in a bear trend. It increases the chances of the Emini being mostly sideways to […]

Posted 7:01 a.m. The Emini began with a tight trading range within yesterday’s range. This increase the chances of a lot of trading range price action today. A trading range day has at least one leg up and one leg down, but it is impossible to know which will come 1st until after it has […]

Posted 6:52 a.m. The Emini gapped up and rallied. When that happens, especially after a buy climax, the rally usually lasts 5 – 10 bars and then the Emini enters a tight trading range for a couple of bars. This is what is most likely today. It sometimes forms a parabolic wedge top and a […]

Posted 7:13 a.m. The Emini had a gap down and traded below yesterday’s low, but the 1st 5 bars had big tails below and were in a tight trading range. The Emini reversed up from a small double bottom for a failed breakout below yesterday’s low and a possible low of the day. The rally […]

Posted 6:52 a.m. Thursday was a buy climax and today opened with a selloff from above Thursday’s high, even though Thursday was a buy signal bar on the daily chart. The odds are that the Emini will enter a trading range for the 1st 2 hours today, and then decide between trend resumption up and […]

Posted 6:55 a.m. Today opened with a big gap down to around a measured move down based on yesterday’s range, and around the low of the bull channel of the past week. The bears failed to get continued early selling. This increased the chances for a sideways to up move to the moving average. The […]