Monthly S&P500 Emini futures candlestick chart:Bull breakout is losing momentum The monthly S&P500 Emini futures candlestick chart has had 3 consecutive bull trend bars since the Trump rally began. Yet, the bodies are shrinking. Therefore, the rally is losing momentum. While there are still measured move targets between 2340 and 2375, there is still a […]
Emini island top and island bottom bull flag
Emini island top needs bear breakout before 5% stock market correction
Intraday market update: February 3, 2017
Emini island top needs bear breakout before 5% stock market correction Updated 6:47 a.m. The Emini gapped up and created another island bottom. Wednesday’s attempt failed. Since 2nd attempts have a slightly higher probability, traders will be more willing to swing trade if a bull trend begins. The 1st bar was a bear bar, and […]
Island top still valid after FOMC announcement
Intraday market update: February 2, 2017
Island top still valid after FOMC announcement Updated 6:53 a.m. While the Emini reversed up from below yesterday’s low with 2 bull bars, the bars were not particularly big. Furthermore, they failed to get above the moving average. While this is enough to make the Emini Always In Long, it is probably a minor reversal. […]
Breakout Mode before FOMC Fed interest rate hike announcement
Intraday market update: February 1, 2017
Breakout Mode before FOMC Fed interest rate hike announcement Updated 6:51 a.m. The Emini gapped up and formed an island bottom. Yet, it quickly formed doji bars. Hence, there is confusion. This increases the chances of an early trading range. While the early reversal attempt might be the high of the day, tight bull channels […]
FOMC Fed interest rate hike creating breakout mode
Intraday market update: January 31, 2017
FOMC Fed interest rate hike creating breakout mode Updated 6:51 a.m. The Emini opened with 4 dojis in the middle of yesterday’s 5 hour trading range. This neutral open increases the chances of a trading range day. Yesterday’s highs and lows are therefore targets. Because a strong trend day is unlikely at this point, the […]
Emini gap up means possible gap down and island top
Intraday market update: January 30, 2017
Emini gap up means possible gap down and island top Updated 6:47 a.m. The Emini gapped down and had a big bear trend bar and strong follow-through selling. Hence, the Emini is Always In Short. Yet, it is also a breakout test of the top of the 6 week trading range and a 50% pullback. […]
Ask Al: Trading the SPY (SPYDER)
Trading the SPY (SPYDER)BPA trading room Q&A: October 12, 2016 Question: Do you think it’s okay to trade 5,000 shares in the SPYDER using price action?Audio duration: 2min 27sec SPYDER equivalent to ES Emini Absolutely. The SPYDER is exactly the same as the Emini, and 5,000 shares is a very common position size in the […]
Possible Island Top and 5% stock market correction
Emini weekend update: January 28, 2017
Monthly S&P500 Emini futures candlestick chart: Trump rally and January Effect continues The monthly S&P500 Emini futures candlestick chart has a bull body this month. This is the 3rd month in the breakout and there is no sign of a top yet.Yet the bodies are shrinking and therefore represent some loss of momentum. The monthly […]
Dow 20,000 big round number and January Effect
Intraday market update: January 27, 2017
Dow 20,000 big round number and January Effect | Brooks Trading Course Updated 6:44 a.m. Today opened in the middle of yesterday’s range and tested yesterday’s low. Yesterday was a sell signal bar on the daily chart for a failed breakout above a 6 week trading range. Yet, this week’s rally was strong. Therefore, the […]
Dow 20,000 January effect all-time high breakout
Intraday market update: January 26, 2017
Dow 20,000 January effect all-time high breakout Updated 6:55 a.m. The bears made money selling above highs yesterday. That therefore increases the chances that the bull trend will transition into a trading range. Because the bulls keep getting higher lows, the bull trend is still in effect. Therefore, the bears need to get below prior […]