Monthly S&P500 Emini futures candlestick chart:Strong bull breakout, but possible exhaustion gap The monthly S&P500 Emini futures candlestick chart formed a big outside up month in November. It closed at a new all-time monthly high. Because of the 3 pushes up from February, bears will try to create a reversal down from a parabolic wedge […]
Trump rally pausing before Fed FOMC interest rate hike
President Trump rally pulling back to August high breakout point
Intraday market update: December 2, 2016
President Trump rally pulling back to August high breakout point Updated 6:50 a.m. The Emini opened in the middle of the 60 minute moving average above and the August high below. Further more, it began with a bear doji, a rally, and reversal. It is therefore neutral and deciding whether to test support or resistance. […]
President Trump Christmas rally stalling before FOMC meeting
Intraday market update: December 1, 2016
President Trump Christmas rally stalling before FOMC meeting Updated 6:49 a.m. The Emini is having a trading range open. It tested the low of the 5 day trading range on the open. The bears see Tuesday’s low as the neck line of a double top. They therefore want a breakout and measured move down. Most […]
TradersEXPO, Las Vegas November 2016
Al Brooks: Subtle support and resistance
Al presented a workshop at the TradersEXPO, Caesars Palace, in Las Vegas on Thursday, November 17. Al’s talk expanded on the Support and Resistance topic using slides from the Brooks Trading Course update being progressively released now. Workshop topic Subtle, but important types of support and resistance Description of workshop Al Brooks discusses very important […]
Limited resumption of the President Trump rally
Intraday market update: November 30, 2016
Limited resumption of the President Trump rally Updated 6:48 a.m. While the Emini gapped above yesterday’s high and broke to a new all-time high, the first bars were small. Furthermore, trend resumption up after a bear breakout below a protracted bull micro channel typically lasts 3 – 5 days. The odds are that the Emini […]
Christmas year end rally pullback
Intraday market update: November 29, 2016
Christmas year end rally pullback Updated 6:51 a.m. The bulls tried to rally from above yesterday’s low and the 60 minute moving average, but failed at the 5 minute moving average. The day began with limit order bull and bear scalpers making money. This looks like a continuation of the trading range trading of the […]
Stock market buy climax pullback
Intraday market update: November 28, 2016
Stock market buy climax pullback Updated 6:59 a.m. The Emini reversed up from below Friday’s low on the open. Hence, this is the 1st pullback in a 12 day bull micro channel. The bulls want an outside up day and therefore another new all-time high. Yet the rally was weak, as was the initial selloff. […]
Ask Al: Tight stops selling wedge top
Tight stops with wedge top setups BPA trading room Q&A: April 1, 2016 Question: Will you explain again, with context, why selling 68 high for a scalp is a good trade, for a stop four to five ticks above. With context, when is it not a good trade? Video duration: 2min 57sec You can also […]
President Trump stock market rally will pull back next week
Emini weekend update: November 26, 2016
Monthly S&P500 Emini futures candlestick chart:Outside up month The monthly S&P500 Emini futures candlestick chart has an outside up month in November. The bulls want it to be a Measuring Gap, while the bears hope it will be an Exhaustion Gap. The monthly S&P500 Emini futures candlestick chart traded below October’s low and above its […]
President Trump stock market rally became buy climax
Intraday market update: November 23, 2016
President Trump stock market rally became buy climax I will update around 6:46 a.m. After yesterday’s buy climax, today gapped below yesterday’s close. There is a 50% chance that the bulls will try to rally for an hour or two. Yet, there is a 75% chance of at least 2 hours of sideways to down […]