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 […]
FOMC Fed interest rate hike creating breakout mode
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. […]
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 […]
S&P500 all time high and Dow 20,000 big round number
Intraday market update: January 25, 2017
S&P500 all time high and Dow 20,000 big round number Updated 6:49 a.m. The Emini opened with a big gap up and the Dow broke above 20,000. It is Always In Long. Yet, the 1st bar had a big bear body. While it is possibly the low of the day, it is more likely not. […]
Emini bull flag at daily chart exponential moving average
Intraday market update: January 24, 2017
Emini bull flag at daily chart exponential moving average updated 6:45 a.m. The day opened with trading range price action at the top of yesterday’s weak bull channel. The bears want this to be a test of yesterday’s high and an early high of the day. Yet, the early dojis make a limit order open […]
Dow 20,000 Trump rally, then 5% stock market correction
Intraday market update: January 23, 2017
Dow 20,000 Trump rally, then 5% stock market correction Updated 6:51 a.m. The Emini began with a limit order open within Friday’s 4 hour range. This increases the chances of a lot of trading range trading today. Yet the 4 hour range is tight. The odds are that there will be a breakout and measured […]
President Trump and January Effect stock market rally
Emini weekend update: January 21, 2017
Monthly S&P500 Emini futures candlestick chart: Breakout is losing momentum The monthly S&P500 Emini futures candlestick chart has a small bull doji bar so far this month. December was also small and had a tail on top. Therefore, the 3 month breakout is losing momentum. The monthly S&P500 Emini futures candlestick chart is in a […]
Trump rally above Dow 20,000 big round number
Intraday market update: January 20, 2017
Trump rally above Dow 20,000 big round number Updated 6:50 a.m. The Emini gapped up and formed 2 good bull bars. It was therefore Always In Long on the open. Yet, it is at the top of the 3 week tight trading range. This is therefore a test. The bulls want an early low of […]
