Monthly S&P500 Emini futures candlestick chart:13 months without a pullback The monthly S&P500 Emini futures candlestick chart has not had a pullback in 13 months. With 4 days remaining in November, this month so far is a small bull bar. If it closes below its high, it would represent a loss of momentum after 2 […]
Trump corporate tax cut rally might stall with budget vote
Trump corporate tax cut rally testing 2600 Big Round Number
Intraday market update: November 22, 2017
Trump corporate tax cut rally testing 2600 Big Round Number Updated 6:47 a.m. The Emini opened within yesterday’s 6 hour range. This increases the chances of a lot of trading range trading today. In addition, it reversed twice in the 1st 3 bars. This is more trading range trading, and it reduces the chances of […]
Trump corporate tax cut weak Emini rally continuing, despite buy climax
Intraday market update: November 21, 2017
Trump corporate tax cut weak Emini rally continuing, despite buy climax I will update around 6:44a.m. The Emini gapped up and began with a pair of strong bull bars. This makes a bear trend day unlikely. The odds now favor either a bull trend day or a 1 – 2 hour trading range. If there […]
Trump’s tax cut vote this week is catalyst
Intraday market update: November 20, 2017
Updated 6:44 a.m. The Emini opened in the middle of Friday’s tight trading range. Hence, today’s open is a continuation of that range. In addition, the 1st bar had a big tail below and therefore was a trading range bar. The 2nd bar was a bull inside bar and therefore a buy signal bar for […]
Trump’s tax cut vote is catalyst for 5% correction
Emini weekend update: November 18, 2017
Monthly S&P500 Emini futures candlestick chart:Trump’s tax cut vote is catalyst for 5% correction The monthly S&P500 Emini futures candlestick chart has a small bar so far this month. Every bar for the past 12 months has a low above the low of the prior bar. That is a 13 bar bull micro channel and […]
House and Senate voting on Trump’s tax cut bill
Intraday market update: November 17, 2017
House and Senate voting on Trump’s tax cut bill Updated 6:46 a.m. After yesterday’s strong rally, today continued the endless pullback. It began with doji bars just above the 60 minute 20 bar EMA, and around a 50% pullback. Because the selloff from yesterday’s high was in a tight bear channel, the 1st reversal up […]
Emini buy climax pausing before Trump’s tax cut vote
Intraday market update: November 16, 2017
Emini buy climax pausing before Trump’s tax cut vote Uppdated 6:48 a.m. The bulls gapped above yesterday’s high and the 60 minute 20 bar EMA, but the 2nd bar was a strong bear bar. This is consistent with all of the reversals over the past 3 weeks. In addition, it lowers the chances of a […]
Emini tight trading range before budget and tax cut votes
Intraday market update: November 15, 2017
Emini tight trading range before budget and tax cut votes Updated 6:48 a.m. The 1st 2 bars were big bear bars closing on their lows. Furthermore, by breaking below last week’s low, the selloff triggered a sell signal on the weekly chart. The odds favor a bear trend day. However, there could be a deep […]
Emini awaiting Trump’s tax reform vote and budget deal
Intraday market update: November 14, 2017
Emini awaiting Trump’s tax reform vote and budget deal Updated 6:47 a.m. After a big gap down, today reversed up from the below yesterday’s low and the 20 day EMA. Yet, the buy signal bar was a doji, which is a one bar trading range. In addition, it had a bear body. While this has […]
TradersEXPO, Las Vegas November 3, 2017
Al Brooks: Trading the Open
Al presented a workshop at the TradersEXPO in Las Vegas, on Friday, November 3. Al’s talk used slides from the upcoming Trading Different Times of the Day section of the Brooks Trading Course. Workshop topic Trading the Open High or low usually comes early Most days have early Trading Range, then Breakout Gap openings: […]