Emini breakout before Senate vote on Trump tax cut Updated 6:55 a.m. The Emini gapped to a new all-time high. Yet, the low of the day was the open of the 1st bar. That happens about 5 times a year, and in 4 of those times, the Emini usually trades below the low at some […]
Emini breakout before Senate vote on Trump tax cut
Trump tax cut creating Emini wedge top breakout
Intraday market update: November 29, 2017
Trump tax cut creating Emini wedge top breakout Updated 6:55 a.m. The bulls got 2 bars of follow-through buying on the open, but the rally is a parabolic wedge. In addition, yesterday’s late trading range was late in a buy climax and therefore a possible final bull flag. While the bulls are getting follow-through buying, […]
Emini wedge rally before Senate Trump tax cut vote
Intraday market update: November 28, 2017
Emini wedge rally before Senate Trump tax cut vote Updated 6:50 a.m. Today gapped up to a new all-time high, but the 1st bar was a small doji. The past 3 days were small trading range days. Today’s 1st bar increases the chances for today to be another small trading range day. The 4th bar […]
Emini consecutive wedge tops before budget and tax cut votes
Intraday market update: November 27, 2017
Emini consecutive wedge tops before budget and tax cut votes Updated 6:49 a.m. The Emini broke above Friday’s high to another new all-time high. Yet, Friday was a small day. There is therefore an increased risk that today reversing down to below Friday’s low and forming an outside down day. That would trigger the sell […]
Trump corporate tax cut rally might stall with budget vote
Emini weekend update: November 25, 2017
Monthly S&P500 Emini futures candlestick chart:13 months without a pullback The monthly S&P500 Emini futures candlestick chart has not had a pullback in 13 months. With 4 days remaining in November, this month so far is a small bull bar. If it closes below its high, it would represent a loss of momentum after 2 […]
Trump corporate tax cut rally testing 2600 Big Round Number
Intraday market update: November 22, 2017
Trump corporate tax cut rally testing 2600 Big Round Number Updated 6:47 a.m. The Emini opened within yesterday’s 6 hour range. This increases the chances of a lot of trading range trading today. In addition, it reversed twice in the 1st 3 bars. This is more trading range trading, and it reduces the chances of […]
Trump corporate tax cut weak Emini rally continuing, despite buy climax
Intraday market update: November 21, 2017
Trump corporate tax cut weak Emini rally continuing, despite buy climax I will update around 6:44a.m. The Emini gapped up and began with a pair of strong bull bars. This makes a bear trend day unlikely. The odds now favor either a bull trend day or a 1 – 2 hour trading range. If there […]
Trump’s tax cut vote this week is catalyst
Intraday market update: November 20, 2017
Updated 6:44 a.m. The Emini opened in the middle of Friday’s tight trading range. Hence, today’s open is a continuation of that range. In addition, the 1st bar had a big tail below and therefore was a trading range bar. The 2nd bar was a bull inside bar and therefore a buy signal bar for […]
Trump’s tax cut vote is catalyst for 5% correction
Emini weekend update: November 18, 2017
Monthly S&P500 Emini futures candlestick chart:Trump’s tax cut vote is catalyst for 5% correction The monthly S&P500 Emini futures candlestick chart has a small bar so far this month. Every bar for the past 12 months has a low above the low of the prior bar. That is a 13 bar bull micro channel and […]
House and Senate voting on Trump’s tax cut bill
Intraday market update: November 17, 2017
House and Senate voting on Trump’s tax cut bill Updated 6:46 a.m. After yesterday’s strong rally, today continued the endless pullback. It began with doji bars just above the 60 minute 20 bar EMA, and around a 50% pullback. Because the selloff from yesterday’s high was in a tight bear channel, the 1st reversal up […]
