Presidential election stock market rally or correction Updated 6:53 a.m. The Emini fell below yesterday’s low on the 2nd bar to trigger the low 2 short on the daily chart. Yet, it then reversed up on the 3rd bar and limit order bulls were able to make money. Therefore, the odds of a big bear […]
Presidential election stock market rally or correction
House and Senate Congressional elections causing stock market breakout
Intraday market update: October 19, 2016
House and Senate Congressional elections causing stock market breakout Updated 6:43 a.m. The Emini opened within yesterday’s 3 hour tight trading range, and the 1st bar had tails up and down. This initial trading range price action therefore increases the odds that today will be mostly a trading range day. While yesterday is a sell […]
Possible brief October stock market correction
Intraday market update: October 18, 2016
Possible brief October stock market correction Updated 6:55 a.m. The Emini gapped up big, yet began with 2 bear bars. That reduced the chances of a bull trend for the 1st hour or two. While today still might be a bull trend day, the odds are that it will have to go sideways to down […]
Emini bear flag in October correction
Intraday market update: October 17, 2016
Emini bear flag in October correction Updated 6:46 a.m. While the Emini traded below Friday’s low and triggered the Low 1 sell signal on the daily chart, the odds are against a big bear trend day. Friday was a big day. Therefore, the stop is far above. This creates a big risk. Since the Emini […]
Ask Al: Is watching Market Breadth helpful?
Market Breadth and other indicatorsBPA trading room Q&A: November 17, 2015 Question: Do you think watching [Market] Breadth is helpful?Audio duration: 4min 19sec In this to make money I’ve watched Breadth and I’ve watched TRIN and I’ve watched TICK. I’ve watched all kinds of things over the years that different people have talked about how […]
Weak October stock market rally
Emini weekend update: October 15 2016
Monthly S&P500 Emini futures candlestick chart:Pullback for 2nd month The monthly S&P500 Emini futures candlestick chart traded below last month’s low and therefore has pulled back for 2 months. While the bears see August as a Low 2 sell signal bar, it was a doji. It was therefore a low probability sell. This is especially […]
September low double bottom for possible year end rally
Intraday market update: October 14, 2016
September low double bottom for possible year end rally Updated 6:46 a.m. The Emini gapped up and tested Wednesday’s high, the top of yesterday’s bull channel, and last week’s low. Yet, the 1st 2 bars were dojis. This increases the probability that the initial rally attempt will not get far before going sideways to down. […]
Failed bear breakout, but October selloff still possible
Intraday market update: October 13, 2016
Failed bear breakout, but October selloff still possible Updated 6:45 a.m. The Emini opened with a big gap down. Yet, the 1st bar was a doji and the 2nd and 3rd bars had tails below. Therefore there is no sense of urgency. Traders feel that the price is about right. This increases the chances of […]
Outside down week and bull trend line break
Intraday market update: October 12, 2016
Outside down week and bull trend line break Updated 6:55 a.m. While the Emini sold off on the 1st 3 bars, the bodies were shrinking. The bears therefore became less willing to sell lower. The bulls want a higher low major trend reversal. Yet, the 3 bear bars represent enough selling pressure so that the […]
Traders see third quarter earnings as catalyst for breakout
Intraday market update: October 11, 2016
Traders see third quarter earnings as catalyst for breakout Updated 6:50 a.m. The Emini broke strongly below the 60 minute moving average on the open. The weekly chart has an ii pattern and yesterday traded above last week’s high. Henc, the Emini might now trade below last week’s low and turn this week into an […]