I will post around 6:45 a.m. Yesterday ended always in long, and today began with a rally, but the bull trend bars were not big and there is resistance at the March FOMC meeting high and at last week’s high, both around the round number of 2100. This increases the chances that the rally will […]
Intraday market update, April 15, 2015:
Intraday market update, April 14, 2015:
Triangle top or a pullback from a bull breakout
Posted 7:00 a.m. The bulls had a strong first bar of the day, but it formed a double top with a lower high at the end of yesterday. Although the Emini fell to a new low of the day, nothing has changed from what I wrote earlier today. The odds still favor a 2 hour […]
Intraday market update, April 13, 2015:
Swing trading a pullback
Posted 6:58 a.m. The Emini began with a strong breakout above yesterday’s 4 hour trading range, but it paused at the top of the breakout from the March FOMC report and at a leg 1 = leg 2 measured move target. When a bull trend has exceptional strength late in a trend where the pullbacks […]
Emini weekend update: April 11, 2015:
Bull trend breakout
Monthly S&P500 Emini candle chart: Small pullback bull trend The monthly Emini candle chart is overbought, but in a small pullback bull trend, which is the strongest type of bull trend. The monthly S&P500 Emini candle chart has an ioi sell setup in a buy climax, but it has not triggered the short. There is […]
Intraday market update, April 10, 2015:
Breakout above the double top
Posted 6:54 a.m. Yesterday ended with a 10 bar tight trading range and today opened with more trading range bars. Although the Emini is always in long and the rally was in a tight channel, the rally contained consecutive buy climaxes. This will tend to limit the upside over the first hour or two. Bulls […]
Ask Al: How long before consistently profitable?
BPA trading room Q&A: February 11, 2015 How long did it take you to become consistently profitable after you started trading?Audio duration: 5min 28sec — Scroll down for images Audio transcript I lost money for probably 10 years, and my problem was – it wasn’t that I was not smart enough; it was probably that […]
Intraday market update, April 9, 2015:
Trading range for day traders
Posted 7:00 a.m. The Emini had a big bull trend bar on the open, but the breakout above yesterday’s high failed. The reversal down lacked strong follow-through selling. This is trading range price action and it formed after yesterday’s trading range day and in a 3 day trading range at the top of a month […]
Intraday market update, April 8, 2015:
Support and resistance
Posted 6:58 a.m. The Emini opened with a strong reversal up. However, because there was no clear bottom, like a major trend reversal or a wedge, the odds are that the bulls will need a pullback to form a higher low major trend reversal before they can go much higher. The Emini is always in […]
Ask Al: Trading and Stress
BPA trading room Q&A: April 1, 2015 In general nowadays, how much stress does trading bring into your life? And have you gotten less stressed in general as you developed to depend on yourself?Audio duration: 3 min 47 sec — Scroll down for image Audio transcript I love trading. Any time you take a […]
Intraday market update, April 7, 2015:
I am not posting today because I am flying home from spending time with one of my daughters at school, and with my 101 year old mother, who is still incredibly smart. See the weekly update for a discussion of the weekly chart and for what to expect going into next week. Traders can see […]
