Stock market sell climax reversal after senate nuclear option Updated 6:58 a.m. The Emini opened in the middle of yesterday’s range, but rallied on the open. Yet limit order bears made money and the Emini reversed down from the 60 minute moving average. While there are weekly magnets above, the bulls need another reversal up […]
Stock market sell climax reversal after senate nuclear option
Emini wedge bear flag after FOMC minutes
Intraday market update: April 6, 2017
Emini wedge bear flag after FOMC minutes Updated 6:59 a.m. The bears got an opening reversal down from the moving average. Yet, they need follow-through selling if today is going to be a strong bear day. More likely, today will begin with a trading range. If there is a selloff, it will probably reverse up […]
Stock market probably ignoring Senate filibuster nuclear option
Intraday market update: April 5, 2017
Stock market probably ignoring Senate filibuster nuclear option Updated 6:53 a.m. The Emini gapped up and rallied strongly above last week’s high, triggering a buy signal on the weekly chart. It is Always In Long and there is a 60% chance that we have seen the low of the day. Yet, when there is a […]
Stock market sideways before Gorsuch Senate nuclear option vote
Intraday market update: April 4, 2017
Stock market sideways before Gorsuch Senate nuclear option vote Updated 6:53 a.m. The Emini opened with a doji bar in the middle of yesterday’s final leg up. This is therefore a trading range open. In addition, yesterday was a Big Down, Big Up day. Consequently, traders are confused. This therefore further increases the chances of […]
April is seasonally strong but still in early bear channel
Intraday market update: April 3, 2017
April is seasonally strong but still in early bear channel Updated 6:45 a.m. The day began at yesterday’s close at the 60 minute moving average. In addition, it was a limit order open. The bears want yesterday’s selloff into the close to be the start of a pullback to Wednesday’s bottom of the bull channel. […]
April government shutdown crisis and 5 per cent correction
Emini weekend update: April 1, 2017
Monthly S&P500 Emini futures candlestick chart:Buy climax at Final Bull Flag measured move target The monthly S&P500 Emini futures candlestick chart had a bear body this month after last month’s big bull bar. Yet, the bar was a doji bar, and therefore a weak sell signal bar after a 4 bar rally. The monthly S&P500 […]
End of quarter window dressing before 5 percent correction
Intraday market update: March 31, 2017
End of quarter window dressing before 5 percent correction Updated 6:41 a.m. The Emini gapped down to the 60 minute moving average on the open, and had a weak reversal. This is early trading range price action. Furthermore, it is in the middle of yesterday’s range. In addition, like the past 2 days were mostly […]
Impending Obamacare Affordable Health Act repeal causing S&P rally
Intraday market update: March 30, 2017
Impending Obamacare Affordable Health Act repeal causing S&P rally Updated 6:41 a.m. The Emini opened in the middle of yesterday, which was a trading range day. The selloff down to yesterday’s low was strong. Therefore, the Emini might have to test that low again before the bulls will buy again. If it does test that […]
Stock market rally off 50 day moving average
Intraday market update: March 29, 2017
Stock market rally off 50 day moving average Updated 6:48 a.m. Because of yesterday’s late selloff, the bulls will probably need at least a small double bottom before getting a swing up. Yet, yesterday’s bull trend was strong. Therefore, the selloff is probably the start of a trading range and not a bear trend. The […]
Bear rally in correction giving back 2017 Trump rally gains
Intraday market update: March 28, 2017
Bear rally in correction giving back 2017 Trump rally gains Updated 6:54 a.m. While the Emini rallied on the open, it was in yesterday’s trading range. Yesterday is a buy signal bar on the daily chart and the bottom of a 2 legged pullback to the 50 day moving average. Traders want to see if […]