Monthly S&P500 Emini candle chart: Extreme buy climax, but no sign of a top The monthly Emini candle chart had an outside up month, but it has not touched the moving average in 33 months. This is extreme behavior and will probably lead to a 20% correction this year. The monthly S&P500 Emini candle chart […]
Emini weekend update: February 28, 2015:
Intraday market update, February 27, 2015:
Double top bear flag
Posted 7:04 a.m. The Emini sold off on the open to test the open of the week. The week is currently a small doji candle, and it will probably stay that way. This means that today will probably not be a big trend day up or down. Instead, it will probably be a trading range […]
Intraday market update, February 26, 2015:
Wedge top so an ABC pullback
Posted 6:50 a.m. Yesterday ended with a sell climax and a brief strong rally. The bulls are hoping for a major trend reversal up. However, because the 60 minute wedge top is clear and in an overbought 60 minute and daily chart, any rally on the 5 minute chart will probably form a major trend […]
Intraday market update, February 25, 2015:
Buy climax on the daily candle chart
Posted 7:08 a.m. The Emini triggered a nested 60 minute wedge short on the open, but the selloff had small bars with tails. This was more likely a bear leg in a trading range than in a bear trend. Today will probably have an early trading range, like almost every day for 3 weeks has […]
Intraday market update, February 24, 2015:
Pullback in a buy climax
Posted 6:46a.m. The Emini has had tight trading range trading and a limit order market for the first hour or so for most of the opens over the past several weeks, and today is another example. After an extreme buy climax on the 5 minute chart and 9 consecutive bull bars on the daily chart, […]
Intraday market update, February 23, 2015:
Pullback after a buy climax
Posted 6:55 a.m. After 8 consecutive bull trend days, today will probably close below its open. However, it could be a doji day with swings up and down. Yesterday was a buy climax in a bull channel so there is a 70% chance of a 2 hour correction today. Although the Emini had a selloff […]
Emini weekend update, February 21, 2015:
Bull breakout but the bull trend is overbought
Monthly S&P500 Emini candle chart: Bull breakout but the bull trend is overbought The monthly Emini candle chart is in a tight bull trend channel, just below a measured move target and the top of the trend channel. The monthly S&P500 Emini candle chart has an outside up month in a tight bull trend channel. […]
Intraday market update, February 20, 2015:
Possible bear trend day
Posted 6:55 a.m. The Emini reversed down strongly from a test of the 60 minute moving average and became always in short on the 2nd bar of the day. The odds are that today will be a bear trend day, but it still might become a trading range day. Less likely, it would become a […]
Intraday market update, February 19, 2015:
Pullback to test support
Posted 6:57 a.m. The Emini reversed up from below yesterday’s low and formed a 2 day high 2 buy setup. If the bulls are able to rally to a new high, the rally will probably fail and create a final flag top. This would create a bigger pullback. The bears are hoping that this 2 […]
Intraday market update, February 18, 2015:
Buy climax and trend exhaustion
Posted 6:53 a.m. Today gapped below the trading range and reversed up from the bull trend line. However, it did not yet reach the 60 minute moving average and it has not yet broken above yesterday’s trading range. Both of these increase the chances of a test down today. If the bulls can break strongly […]
