March FOMC Fed rate hike tomorrow is stock market catalyst Updated 6:58 a.m. The Emini opened with a small gap down, but reversed up on the 2nd bar. Yet, the reversal did not immediately close the gap. Hence, the bears were disappointed by a small gap down and bad follow-through. In addition, the bulls were […]
March FOMC Fed rate hike tomorrow is stock market catalyst
Trump rally might end with March FOMC rate hike
Intraday market update: March 13, 2017
Trump rally might end with March FOMC rate hike Updated 6:55 a.m. Last week was a High 1 buy signal bar on the weekly chart, and its high is only about 5 points above. The Emini will probably test above it this week, and possibly early today. After a 7 day bear micro channel on […]
March FOMC Fed interest rate hike stopping Trump rally
Emini weekend update: March 11, 2017
Monthly S&P500 Emini futures candlestick chart:Buy climax at the Final Bull Flag measured move targets and the 2400 Big Round Number The monthly S&P500 Emini futures candlestick chart has a doji bar so far this month. Last month was a buy climax at measured move targets and the 2400 Big Round Number. The monthly S&P500 […]
Trump rally ending with FOMC Fed rate hike
Intraday market update: March 10, 2017
Trump rally ending with FOMC Fed rate hike Updated 6:40 a.m. While today reversed down on the 1st bar after a big gap up, yesterday was a strong reversal up from a failed breakout below a 7 day bear channel. Therefore, the bulls will probably get 2 legs up. Hence, the odds are against a […]
Oversold, but likely 5% correction to down 20,000 and December 2016 close within 2 months
Intraday market update: March 9, 2017
Likely 5% correction to down 20,000 and December 2016 close Updated 6:53 a.m. Yesterday tested yesterday’s low and reversed up. The Emini is Always In Long. In addition, after a 7 day bear micro channel on the daily chart it is oversold. Hence, the odds are that it will go above the prior day’s high […]
Probable Fed interest rate hike correction after buy climax
Intraday market update: March 8, 2017
Probable Fed interest rate hike correction after buy climax Updated 6:52 a.m. The Emini opened in the middle of yesterday’s range and reversed up from a pullback to the moving average. This Opening Reversal was strong enough to make the low a likely low of the day. Yet, the bulls need a strong breakout above […]
Trump rally stalling from FOMC rate hike and not Russia
Intraday market update: March 7, 2017
Trump rally stalling from FOMC rate hike and not Russia Updated 7:03 a.m. The Emini sold off below yesterday’s low. It therefore closed the big gap up from last week. Hence, that gap is now an exhaustion gap. An exhausted buy climax usually leads to a trading range and not an immediate bear trend. Once […]
Trump rally is buy climax stalling at 2400 resistance
Intraday market update: March 6, 2017
Trump rally is buy climax stalling at 2400 resistance Updated 6:47 a.m. While today gapped down and formed a 3 day island top, the gap was small. In addition, the bears lacked consecutive big bear bars closing on their lows. Hence, they lack conviction. As a result, the odds are they will prefer to sell […]
Trump rally is exhaustive buy climax and parabolic wedge top
Emini weekend update: March 4, 2017
Monthly S&P500 Emini futures candlestick chart: Buy climax at measured move targets The monthly S&P500 Emini futures candlestick chart is in a strong bull trend, but it is climactic. The bulls need follow-through after last month’s strong rally. Yet, the absence of follow-through buying increases the risk of an exhaustion gap. The monthly S&P500 Emini […]
Possible Emini island top and exhaustion gap
Intraday market update: March 3, 2017
Possible Emini island top and exhaustion gap Updated 6:42 a.m. Because the bears failed to get a gap down, the odds are that today will not be a big bear trend day. As strong as the 2 day selloff has been, it is only a 50% pullback to the 60 minute moving average. Yet, the […]