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 […]
Trump’s tax cut vote is catalyst for 5% correction
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 Presentation video Al recorded a full, new audio soundtrack for the presentation and you can view […]
Emini test of wedge top before Trump tax reform vote
Intraday market update: November 13, 2017
Emini test of wedge top before Trump tax reform vote Updated 6:44 a.m. The Emini gapped below Friday’s low, but the 1st 2 bars were bull bars. This is a small Big Down, Big Up pattern, and it makes an early trading range likely. The bulls want a failed breakout below yesterday’s low. If there […]
Emini wedge top before Trump’s tax reform and budget votes
Emini weekend update: November 11, 2017
Monthly S&P500 Emini futures candlestick chart: Strong bull trend, but buy climax Every bar for the past 12 months has a low above the low of the prior month on the monthly S&P500 Emini futures candlestick chart. This is a 13 bar bull micro channel and therefore a strong bull trend. Since it is extreme, […]
Emini bull reversal bar before Trump’s tax cut and budget votes
Intraday market update: November 10, 2017
Emini bull reversal bar before Trump’s tax cut and budget votes Updated 6:44 a.m. While yesterday was a bull reversal day, it was in a 2 week trading range and therefore there is nothing to reverse. Today opened in the middle 3rd of yesterday’s range, which increases the chances of a lot of overlap. Overlap […]
Emini wedge top and buy climax at 2600 Big Round Number
Intraday market update: November 9, 2017
Emini wedge top and buy climax at 2600 Big Round Number Updated 6:44 a.m. The Emini opened with a big gap down. The 1st 2 bars were big bars with big tails. The bull bodies make a Big Down, Big Up, Big Confusion pattern, which usually leads to a trading range. The tails are typical […]
