Posted 7:08 a.m. The Emini had a big gap up and the first bar was a strong bear bar, but the 2nd bar was a strong bull bar with weak follow-through. This is a trading range open. The Emini has been working up from that 2nd bar and reached a new high. If the bulls […]
Intraday market update, December 18, 2014:
Intraday market update, December 17, 2014:
FOMC report
Posted 7:00 a.m. The Emini had a small gap above the tight bear channel and then rallied for several bars. The bears want the rally to be another lower high and for it to become to an opening reversal that leads to a push below yesterday’s low. The bulls want to get above and hold […]
Intraday market update, December 16, 2014:
60 minute wedge bull flag
Posted 7:05 a.m. The Emini is searching for a bottom and it probably will soon reverse up from a 60 minute wedge bull flag. However, there are still targets below and they may have to be reached before there will be a 60 minute rally. The Emini reversed up from below yesterday’s low and it […]
Intraday market update, December 15, 2014:
probable major trend reversal
Posted 7:15 a.m. The market had a big gap up, but then tested the bottom of yesterday’s trading range. The trading for the first 30 minutes was tight trading range price action. The big gap up after yesterday’s big selloff increases the chances that this early selloff will become a bear leg in a trading […]
Why Band Trading Works: Part 3
Superiority of Standard Error Bands
In the previous two parts of this series we analyzed price trends, explored why band trading works, and looked at how some of the popular bands are built and used. This part looks at Standard Error (SE) Bands and why it is considered a superior band. I will not get into mathematical details in favor […]
Emini weekend update: December 13, 2014:
bear trend on the 60 minute chart
Monthly S&P500 Emini candle chart: Failed bull breakout on the monthly chart, and there is now a bear trend on the 60 minute chart The bear candle on the monthly chart is close to totally reversing November’s rally. Although this week’s selling was enough to create a bear trend on the 60 minute chart, the […]
Intraday market update, December 12, 2014:
double top bear flag
Initially posted 6:15 a.m., and then updated 7:05 a.m. The Emini gapped below the neckline of the 3 day double top bear flag, but reversed up sharply. However, yesterday’s selloff was steep and this increases the chances that the Emini will go sideways for many bars after the initial rally, rather than straight up to […]
Intraday market update, December 11, 2014:
strong bull trend
Posted 6:45 a.m. The Emini began with a strong bull trend and formed a trend from the open bull trend. It is always in long. The rally is strong enough to make a bear trend day unlikely. However, the day could become a trading range day. If so, the Emini will then make a choice […]
Intraday market update, December 10, 2014:
trend from the open bear trend
Posted 7:10 a.m. The Emini opened at the bottom of yesterday’s trading range, and then had a bear breakout. This is a trend from the open bear trend. The bears prefer a strong bear breakout and a trend from the open bear. They do not mind if the Emini rallies as long as it fails […]
Intraday market update, December 9, 2014:
island top
Posted 6:50 a.m. Today opened with a big gap down, creating a big island top with the November 21 gap up. Most gaps up and down have failed over recent weeks. However, the Emini is so overbought on the higher time frames that traders are aware that a correction down can happen at any time. […]
