Posted 7:12 a.m. The Emini began with a trading range open, which meant that day traders began to look for a double bottom or wedge bottom to buy, or a double top or wedge top to sell. It was a limit order market initially. The bulls wanted a reversal up above last week’s low because […]
Intraday market update: September 22, 2015
Intraday market update: September 21, 2015
Learn how to trade the markets with minor reversals
Posted 7:20 a.m. The Emini had 4 doji bars in the first 5 bars, and entered a breakout mode market. This initial trading range price action increases the chances for a lot more trading range price action today, and it reduces the chances of a strong trend day up or down. Traders need to see […]
Emini weekend update: September 19, 2015:
Traders learning how to trade the markets should be ready for a head and shoulders top
Monthly S&P500 Emini futures candlestick chart: Candlestick pattern is a bull flag The monthly S&P500 Emini futures candlestick chart is forming a bull flag at the moving average. The monthly S&P500 Emini futures candlestick chart finally pulled back to the moving average after 38 months above it. The buyers at the moving average have been […]
Intraday market update: September 18, 2015
Learn how to trade the markets in a bear leg
Posted 7:26 a.m. PST The Emini had a strong bull reversal on the 1st bar, but then weak follow-through. Although the Emini became Always In Long on the first bar, the bad follow-through made a trading range likely. The bulls want a bull channel or a double bottom HL MTR. The measured move up is […]
Intraday market update: September 17, 2015
Day trading tip for an FOMC meeting
Posted 7:19 a.m. The Emini opened with a tight trading range within yesterday’s trading range. It initially was a limit order market, and this increased the chances for a lot of trading range price action before the FOMC announcement at 11 a.m. Day traders hope that there will be a breakout with follow-through in either […]
Intraday market update: September 16, 2015
Learn how to trade the markets after a buy climax
Posted 7:31 a.m. Today opened within the tight trading range from the end of yesterday and continued with tight trading range, limit order trading initially. This increased the chances that today will spend a lot of time within tight trading ranges, and it reduces the chances that today will become a trend day. If it […]
Intraday market update: September 15, 2015
Learning how to become a day trader requires patience
Posted 7:29 a.m. The bears got 4 consecutive bars on the open and then a lower high, but the bulls got a strong reversal up from just above the moving average. The bears saw this as a double top. When that happens, the bulls hope that any selloff will result in a double bottom and […]
Intraday market update: September 14, 2015
How to trade online when the price action is sideways
Posted 7:15 a.m. The Emini reversed down from yesterday’s wedge top and fell for 4 consecutive bars. It was Always In Short, but at the apex of a tight 60 minute triangle and at all 3 moving averages, which are flat. This is a bear leg within a trading range, and it is less likely […]
Emini weekend update: September 12, 2015:
Traders learning how to trade the markets see a pullback in bear trend
Monthly S&P500 Emini futures candlestick chart: Pullback in bull trend The monthly S&P500 Emini futures candlestick chart is holding support at the 20 month moving average The monthly S&P500 Emini futures candlestick chart finally pulled back to its moving average after 38 months above the average. It found buyers there. Since 38 months is extreme, […]
Intraday market update: September 11, 2015
Learn how to trade the markets when the price action is sideways
Posted 7:15 a.m. The Emini continued its broad bear channel from yesterday, but a broad channel with a wedge shape has about a 75% chance of a bull breakout. The bull breakout can be followed by a trading range or a swing up. There is a 25% chance of a strong bear breakout and then […]
