Trump rally stalling before tax cut and budget votes Updated 6:51 a.m. The day began with a small wedge top that began in the last hour on Friday, but the 1st bar was a doji. While this was a reasonable higher high major trend reversal sell setup, the doji sell signal bar shows a lack […]
Trump rally stalling before tax cut and budget votes
Tax cut and budget votes threatening Trump’s stock market rally
Emini weekend update: December 9, 2017
Monthly S&P500 Emini futures candlestick chart:Strong bull trend, but unsustainable and therefore a buy climax After 3 big bull bars, this month so far is a doji bar. Its low is above last month’s low. This is the 14th month without a pullback Additionally, the monthly S&P500 Emini futures candlestick chart is now at the […]
Emini is neutral before today’s government shutdown vote
Intraday market update: December 8, 2017
Emini is neutral before today’s government shutdown vote Updated 6:55 a.m. The Emini gapped up to near Tuesday’s major lower high. The bears want a double top lower high major trend reversal on the 60 minute chart. The bulls want any early selloff to be a pullback from the big gap up. The early tight […]
Emini breakout mode before budget reconciliation and tax reform votes
Intraday market update: December 7, 2017
Emini breakout mode before budget reconciliation and tax reform votes Updated 6:47 a.m. Today is rollover day. Since December still has better volume, I will wait for tomorrow before trading March. On the daily chart, yesterday is a bad buy signal bar and a bad sell signal bar. Therefore, there will probably be sellers above […]
Emini sell signal bar before December 8 continuing budget resolution
Intraday market update: December 6, 2017
Emini sell signal bar before December 8 continuing budget resolution I will update around 6:44 a.m. The Emini sold off in a small pullback bear trend at the end of yesterday. But, the limit order bulls were able to make money. This is an early sign of 2 sided trading and it increases the odds […]
Emini stalling awaiting Congress votes on budget reconciliation and tax cut
Intraday market update: December 5, 2017
Emini stalling awaiting Congress votes on budget reconciliation and tax cut Updated 6:43 a.m. While yesterday was a sell signal bar on the daily chart, it was an extreme sell climax on the 5 minute chart. That means that there is only a 25% chance of a big bear day today. However, if there is […]
Emini awaiting Senate tax cut and Congress continuing budget resolution
Intraday market update: December 4, 2017
Emini awaiting Senate tax cut and Congress continuing budget resolution Updated 6:45 a.m. Today began with a big gap up, but the 1st bar was a doji bar. That bar increases the odds of a lot of trading range trading today. Furthermore, when there is a big gap up and a rally, it usually stops […]
Trump rally continuing before tax reform vote and budget resolution
Emini weekend update: December 2, 2017
Monthly S&P500 Emini futures candlestick chart:Strong bull trend, testing top of bull channel The monthly S&P500 Emini futures candlestick chart had its 3rd consecutive big bull trend bar in November. Furthermore, it has gone 12 months without falling below the low of the prior month. This is therefore a 13 bar bull micro channel. Since […]
Emini breakout before Senate vote on Trump tax cut
Intraday market update: November 30, 2017
Emini breakout before Senate vote on Trump tax cut Updated 6:55 a.m. The Emini gapped to a new all-time high. Yet, the low of the day was the open of the 1st bar. That happens about 5 times a year, and in 4 of those times, the Emini usually trades below the low at some […]
Trump tax cut creating Emini wedge top breakout
Intraday market update: November 29, 2017
Trump tax cut creating Emini wedge top breakout Updated 6:55 a.m. The bulls got 2 bars of follow-through buying on the open, but the rally is a parabolic wedge. In addition, yesterday’s late trading range was late in a buy climax and therefore a possible final bull flag. While the bulls are getting follow-through buying, […]
