Emini January effect Trump tax cut rally continuing Updated 6:45 a.m. The Emini opened with a big gap up and consecutive big bull bars. In addition, it broke above yesterday’s bull channel. The measured move up from yesterday’s wedge top and from yesterday’s opening gap up are both around 2724. This is an extreme buy […]
Emini January effect Trump tax cut rally continuing
Trump rally contributing to January barometer
Intraday market update: January 3, 2018
Trump rally contributing to January barometer Updated 6:44 a.m. The Emini had a small gap up and broke to a new all-time high. The 1st 2 bars were big bull bars closing near their highs. This makes either a bull trend day or a trading range day likely. If today is a trading range day, […]
Emini January effect and barometer are useless for traders
Intraday market update: January 2, 2018
Emini January effect and barometer are useless for traders Updated 6:44 a.m. The Emini opened with a big gap up. The day began with a big bear bar in the middle of Friday’s tight trading range. Since the risk for the bears was big and the probability low, the bulls bought below the bar. The […]
Trump Emini rally continuing in 2018, but more volatile
Emini weekend update: January 1, 2018
Monthly S&P500 Emini futures candlestick chart:Unprecedented rally The monthly S&P500 Emini futures candlestick chart has gone for an entire year with every low above the low of the prior month. December, in fact, is the 14th month in the streak. This month had a small bull body. This is a sign of loss of momentum. […]
Trump rally continuing into January 19 government shutdown vote
Intraday market update: December 28, 2017
Trump rally continuing into January 19 government shutdown vote Updated 6:46 a.m. The Emini opened with a big bear bar after yesterday’s strong, late rally. The bears want a parabolic wedge top. Yet, yesterday’s rally was strong enough to make either a trading range or bull trend more likely today. The bears therefore will need […]
Emini holiday trading before budget vote and possible government shutdown
Intraday market update: December 27, 2017
Emini holiday trading before budget vote and possible government shutdown Updated 6:44 a.m. The Emini reversed down from above yesterday’s high on the open. Since yesterday was a small day, there is an increased chance of an outside down day today. However, by trading above yesterday’s high, the bulls atriggered a buy signal on the […]
Christmas week means likely quiet holiday Emini trading
Intraday market update: December 26, 2017
Christmas week means likely quiet holiday Emini trading Updated 6:48 a.m. Today opened with a big doji bar in the middle of yesterday’s range. Yesterday was a trading range day. Since a big bar has big risk for stop entry traders and a tight trading range has low probability for stop entry traders, most traders […]
Trump Emini rally could end with government shutdown
Emini weekend update: December 23, 2017
Monthly S&P500 Emini futures candlestick chart:Extremely strong rally, but at top of bull channel Every low for the past 13 months is above the low of the prior month’s low on the monthly S&P500 Emini futures candlestick chart. This means the bull trend is strong, but it is climactic. The rally is testing the top […]
Trump Emini rally awaiting government shutdown vote
Intraday market update: December 22, 2017
Trump Emini rally awaiting government shutdown vote Updated 6:55 a.m. Yesterday was a bear bar and a sell signal bar for a wedge top on the daily chart. It was also a 2nd signal. Yet, the 5 day tight trading range reduces the odds of a successful reversal down today. Traders want to know if […]
Emini traders watching for possible government shutdown
Intraday market update: December 21, 2017
Emini traders watching for possible government shutdown Updated 6:44 a.m. Today is the 3rd consecutive day that gapped up and sold off on the open. However, the 1st bar today was only a doji. This is a weaker start for the bears. It therefore increases the chances of an opening reversal up from around the […]