Weak Emini High 1 bull flag after March FOMC announcement I will update again at the end of the day. Pre-Open market analysis Yesterday reversed up on the FOMC announcement, but sold off into the close. By trading below Tuesday’s low, it became the 1st pullback after an 8 bar bull micro channel on the […]
Weak Emini High 1 bull flag after March FOMC announcement
Emini buy climax ahead of March FOMC announcement
Intraday market update: Wednesday March 20, 2019
Emini buy climax ahead of March FOMC announcement I will update again at the end of the day. Pre-Open market analysis The 2 dominant forces today are the buy climax on the daily chart and the 11 am FOMC announcement. The daily chart has rallied in a bull micro channel for 8 days. That is […]
Emini weak follow-through buying after breakout above 2825 resistance
Intraday market update: Tuesday March 19, 2019
Emini weak follow-through buying after breakout above 2825 resistance I will update again at the end of the day. Pre-Open market analysis The Emini broke above last week’s high. That was the minimum objective for the bulls after a strong bull reversal last week. Despite being sideways all day, the day closed on its high. […]
Emini breakout above October triple top needs follow through
Intraday market update: Monday March 18, 2019
Emini breakout above October triple top needs follow through I will update again at the end of the day. Pre-Open market analysis Friday broke above the top of the October-November-December triple top. It was therefore a new 6 month high. However, the daily chart has been in a trading range for 16 months. Most breakouts […]
Emini 3 month rally stalling at 2820 triple top
Weekend market update: March 16, 2019
Market Overview The Emini finally broke above the late 2018 triple top to a new 6 month high. However, the daily chart has been in a trading range for 16 months. Traders should therefore expect disappoint. This bull breakout will probably fail within 2 weeks. The crude oil futures contract is getting close to a […]
Emini strong rally stalling at 2018 triple top
Intraday market update: Friday March 15, 2019
Emini strong rally stalling at 2018 triple top I will update again at the end of the day. Pre-Open market analysis After Wednesday broke above last week’s high, yesterday was an inside day and a trading range day. It is a High 1 bull flag, but just below the resistance of the 2018 triple top […]
Emini reversed last week’s outside down bar and again at 2800
Intraday market update: Thursday March 14, 2019
Emini reversed last week’s outside down bar and again at 2800 I will update again at the end of the day. Pre-Open market analysis The Emini rallied for the 4th day yesterday to just above last week’s high. It has now totally erased that selloff. I have been writing for the past 2 months that […]
Emini testing 2800 and top of 60 minute wedge
Intraday market update: Wednesday March 13, 2019
Emini testing 2800 and top of 60 minute wedge I will update again at the end of the day. Pre-Open market analysis The Emini spent most of yesterday in a trading range. It tested the March 5 top of the wedge bear channel on the 60 minute chart. The bulls want a strong breakout above […]
Emini strong reversal up to 2800 after gap test
Intraday market update: Tuesday March 12, 2019
Emini strong reversal up to 2800 after gap test I will update again at the end of the day. Pre-Open market analysis I wrote before yesterday’s open that the wedge bottom on the 60 minute chart would probably lead to a rally yesterday. The reversal up was from a test of the February 12 gap. […]
Emini outside down week at 2800 is sell signal bar
Intraday market update: Monday March 11, 2019
Emini outside down week at 2800 is sell signal bar I will update again at the end of the day. Pre-Open market analysis Last week was an outside down week on the weekly chart. It turned down from the 2800 Big Round Number and the October-November-December triple top. The odds favor at least a 2 […]