May correction will give back all 2017 stock market gains Updated 6:46 a.m. The Emini gapped up big, but formed a couple bear dojis. This is consistent with what I said about a trading range for 2 – 5 days. The odds are that the Emini will gap down within a week and selloff 5%. […]
May correction will give back all 2017 stock market gains
Ask Al: Engineered Trading Mindset Podcast
Mindset — How what you focus on impacts results A podcast with Al Brooks by Les Meehan, founder of the Right Mind Trader website and Engineered Trading Mindset trading psychology services. The podcast was first published on April 18, 2017. Audio duration: 40 minutes Focus on the things that matter most in your trading […]
Sell in May and go away means 5 percent correction
Emini weekend update: April 22, 2017
Monthly S&P500 Emini futures candlestick chart:Consecutive doji bars after buy climax The monthly S&P500 Emini futures candlestick chart has consecutive doji bars after a buy climax. Furthermore, it is at a measured move target based on the 2014 – 2015 trading range. In addition, that trading range was late in a bull trend. Hence, it […]
Trump bear rally resumption should fail around March 15 high
Intraday market update: April 21, 2017
Trump bear rally resumption should fail around March 15 high Updated 6:47 a.m. While the Emini tried to reverse up from a test of the neck line of the 4 day double bottom and a test of the bottom of yesterday’s trading range, the bear channel was tight. Consequently, the first reversal up will probably […]
Stock market April seasonally bullish Trump rally resumption
Intraday market update: April 20, 2017
Stock market April seasonally bullish Trump rally resumption Updated 6:47 a.m. Today opened in the middle of yesterday’s range. In addition, it is in the middle of a month long tight trading range. Furthermore, the 1st bar had prominent tails. The limit order bulls made money buying on the 3rd bar. Finally, a channel usually […]
Five percent correction after Trump rally resumption fails
Intraday market update: April 19, 2017
Five percent correction after Trump rally resumption fails Updated 6:50 a.m. While the Emini gapped above yesterday’s high, the gap was small and the 1st bar had a big tail on top. This is therefore disappointing for the bulls. Hence, it is a warning that today might not break strongly above Monday’s lower high. Instead, […]
Earnings and North Korea’s nuclear program are catalysts for correction
Intraday market update: April 18, 2017
Earnings and North Korea’s nuclear program are catalysts for correction Updated 6:46 a.m. The Emini gapped back below the 60 minute moving average and into yesterday’s 4 hour trading range. In addition, it broke below yesterday’s bull channel. Finally, it pulled back to the middle of yesterday’s range, and yesterday had a big range. These […]
Testing March 27 double top neckline for 5 percent correction
Intraday market update: April 17, 2017
Testing March 27 double top neckline for 5 percent correction Updated 6:49 a.m. The Emini gapped up after a nested wedge bottom on the 60 minute chart. Yet, the 1st 2 bars were moving average gap bars in a bear trend. The bears therefore hope that the Emini is forming an early high of the […]
Trump, North Korea, and Syria catalysts for 5 percent correction
Emini weekend update: April 15, 2017
Monthly S&P500 Emini futures candlestick chart:Trump, North Korea, and Syria catalysts for 5 percent correction The monthly S&P500 Emini futures candlestick chart has a bear inside bar so far this month. It is stalling at a measured move up from the 2 year trading range. The monthly chart has been in a strong bull trend […]
Trump rally resumption, but 5 percent correction underway
Intraday market update: April 13, 2017
Trump rally resumption, but 5 percent correction underway Updated 6:47 a.m. While today reversed up from below yesterday’s low, there is still room to the bottom of the 60 minute wedge bull flag. Hence, the bulls need a strong rally to break free of that magnet. If they do not get it, the odds are […]