Emini reacts to government shutdown vote Updated 6:44 a.m. The Emini opened with a small double bottom bull flag. Since there is a 5 minute wedge top nested within a 60 minute wedge top, the odds are against a big bull trend day. In addition, Friday’s rally was weak. This adds to the likelihood that […]
Emini reacts to government shutdown vote
Emini forming blow-off top leading to giving back 2018 gains
Emini weekend update: January 20, 2018
Monthly S&P500 Emini futures candlestick chart:Emini forming blow-off top leading to giving back 2018 gains The monthly S&P500 Emini futures candlestick chart this month so far is a big bull trend bar in a parabolic wedge bull trend. The monthly S&P500 Emini futures candlestick chart has not had a pullback since November 2016. This means […]
Congress budget and government shutdown vote today is catalyst
Intraday market update: January 19, 2018
Congress budget and government shutdown vote today is catalyst Updated 6:53 a.m. The Emini opened with a double top lower high major trend reversal. Yet, the bulls broke above the lower high. Since yesterday was a bear bar, it was a weak buy signal bar on the daily chart. Consequently, the odds are against a […]
Trump rally buy climax at 2800 before government shutdown vote
Intraday market update: January 18, 2018
Trump rally buy climax at 2800 before government shutdown vote Updated 6:48 a.m. Yesterday’s late selloff was likely the start of a trading range. The reversals up and down today increased the probability. After a buy climax, there is a 75% chance of a trading range lasting at least 2 hours. This means that the […]
Emini outside down reversal at 2800 Big Round Number
Intraday market update: January 17, 2018
Emini outside down reversal at 2800 Big Round Number Updated 6:48 a.m. The Emini gapped up to the middle of yesterday’s huge range. This makes an inside day and a trading range day likely. On the open, it reversed down from 2 legs up from yesterday’s low. The 2nd and 3rd bars were dojis. This […]
Emini blow-off top leading to test of year’s open
Intraday market update: January 16, 2018
Emini blow-off top leading to test of year’s open Updated 6:43 a.m. The Emini began with a trend from the open bull trend. This is a possible low of the day. However, a Buy The Close rally on the open usually does not last all day. It typically either becomes a big trading range, or […]
Emini possible blow-off top preceding congressional budget vote
Intraday market update: January 9, 2018
Emini possible blow-off top preceding congressional budget vote Updated 6:47 a.m. Today gapped up and began with a big bull bar. However, the 2nd bar was a bear bar, which is bad follow-through. It therefore increases the chances of an early swing down to yesterday’s high or close. The bears need 2 – 3 bear […]
2018 January barometer indicates Trump rally continuing
Intraday market update: January 8, 2018
2018 January barometer indicates Trump rally continuing Updated 6:47 a.m. Friday ended with a buy climax. There is therefore only a 25% chance of a strong bull trend today. Yet, there is a 50% chance of some follow-through buying in the 1st 2 hours. The buy climax was a spike and channel bull trend. It […]
Trump corporate tax cut rally might be January barometer
Emini weekend update: January 6, 2018
Monthly S&P500 Emini futures candlestick chart:Strong bull trend For the past 14 months, every bar on the monthly S&P500 Emini futures candlestick chart had a low above the low of the prior month. This is a very strong bull trend, but unsustainable and therefore climactic. A bull micro channel is a series of bars where […]
Emini nested parabolic wedge buy climaxes at measured move target
Intraday market update: January 5, 2018
Emini nested parabolic wedge buy climaxes at measured move target Updated 6:48 a.m. The Emini gapped up and had 2 big bear bars. This reduces the chances of a bull trend day. It reversed up strongly on the 3rd bar, which reduces the chances of a big bear day. There was a big gap up, […]