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 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 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 […]

Failed Obamacare Health Care repeal vote creating stock market volatility Updated 6:46 a.m. The Emini opened with a big gap down, yet stalled. The early tight trading range increases the chances of a lot of trading range price action today. Furthermore, it reduces the chances of a strong trend up or down. In addition, this […]

Affordable Care Act repeal is catalyst for 5% market correction Updated 6:50 a.m. While the Emini opened with a gap up, it opened just below the 60 minute moving average. This is therefore a sign of hesitation by the bulls. In addition, the gap up after yesterday’s late selloff creates a Big Down, Big Up, […]

Likely 5 percent correction to Dow 20000 erasing 2017 gains Updated 6:50 a.m. Yesterday was a trading range day and today opened in the middle of yesterday’s range. Hence, the odds favor more sideways trading. Because yesterday had a bull body after Tuesday’s big bear breakout, it is a buy signal bar on the daily […]

Trump rally stock market correction to Dow 20,000 Updated 6:48 a.m. While today broke below yesterday’s low, the 1st bar closed back above that low. In addition, it was a bear doji, just like the final bars of yesterday. This tight trading range price action reduces the chances of a strong trend day up or […]

Brexit not affecting Trump rally, but correction soon Updated 6:47 a.m. The Emini gapped above the 60 minute moving average. It also gapped above yesterday’s high, but immediately closed the gap. Yet, the bears were unable to get a quick move down. Furthermore, the bars are not big. Hence, this is therefore a balanced market […]

End of quarter window dressing before 5% correction Updated 6:51 a.m. The open continued Friday’s parabolic sell climax. Yet, most sell climaxes evolve into trading ranges. Therefore the odds are that the downside will be limited over the 1st hour or two. There is a 60 minute bull trend line and a leg 1 = […]