Monthly S&P500 Emini futures candlestick chart:1st pullback to 20 month EMA in more than 20 months The monthly S&P500 Emini futures candlestick chart pulled back to the 20 month EMA in October. November had a bull body and it is a buy signal bar for December. However, since it is only a small bull doji […]
Emini Christmas rally within yearlong trading range
Emini bulls want November buy signal bar on monthly chart
Intraday market update: Thursday November 29, 2018
Emini bulls want November buy signal bar on monthly chart I will update again at the end of the day. Pre-Open market analysis The Emini had a strong bull breakout in the middle of the day yesterday. It was big enough to have follow-through buying over the next week. This is true even if there […]
Emini 3 day island bottom might become 5 day island bottom
Intraday market update: Wednesday November 28, 2018
Emini 3 day island bottom might become 5 day island bottom I will update again at the end of the day. Pre-Open market analysis Yesterday was a broad bull channel day and it closed on its high. Also, if tomorrow gaps up, there will be a 5 day island bottom in addition to the current […]
Emini 3 day island bottom but weak trend reversal up
Intraday market update: Tuesday November 27, 2018
Emini 3 day island bottom but weak trend reversal up I will update again at the end of the day. Pre-Open market analysis The Emini gapped up yesterday. Since it gapped down 3 days earlier, the gap up created a 3 day island bottom. In addition, it gapped down on Friday. It therefore has a […]
Emini bear flag but higher low and possible triangle
Intraday market update: Monday November 26, 2018
Emini bear flag but higher low and possible triangle I will update again at the end of the day. Pre-Open market analysis The Emini reversed up slightly on Friday at the end of a strong down week. The bulls hope that last Tuesday and Thursday formed a successful micro double bottom, and that the Emini […]
Emini strong Christmas rally unlikely in 2018
Weekend Market Update: November 24, 2018
Market Overview The Emini has sold off over the past 2 weeks from a double top bear flag on the daily chart. It is now near the October 29 neck line of the double top. After falling a little more to support, it will probably reverse up for a few weeks from there or around […]
Emini adage says Thanksgiving belongs to the bears
Intraday market update: Wednesday November 21, 2018
Emini adage says Thanksgiving belongs to the bears I will update again at the end of the day. Pre-Open market analysis There is an old-timer’s stock market and therefore Emini adage that says Thanksgiving belongs to the bears and Christmas belongs to the bulls. I bring it up because it is part of stock market […]
Emini weak sell signal testing October sell climax low
Intraday market update: Tuesday November 20, 2018
Emini weak sell signal testing October sell climax low I will update again at the end of the day. Pre-Open market analysis By falling below Friday’s low, the Emini triggered a sell signal on the daily chart. But, Thursday and Friday were big bull days. Therefore, Friday is a low probability sell signal bar. Consequently, […]
Emini head and shoulders bottom but bear micro channel
Intraday market update: Monday November 19, 2018
Emini head and shoulders bottom but bear micro channel I will update again at the end of the day. Pre-Open market analysis By going above Thursday’s high, Friday triggered a buy signal on the daily chart. However, there is a 7 bar bear micro channel and Friday was the 1st pullback. Typically, the rally will […]
Emini indecision with double top and head and shoulders bottom
Emini weekend update: November 17, 2018
Market Overview: The stock market is in the middle of a 2 month trading range. That range is in the middle of a yearlong trading range. While the bulls are hoping for a yearend rally to a new all-time high, the October selloff was strong. The range will probably continue for at least a few […]