Posted 6:54 a.m. The Emini opened in the middle of yesterday’s range, and yesterday was a trading range day. Most of the days of the past several weeks began with a tight trading range that lasted about an hour, and today is similar. The gap down might be all of the correction that the bears […]
Intraday market update, February 17, 2015:
Emini weekend update: February 14, 2015:
Bull breakout and trend resumption
Monthly S&P500 Emini candle chart: Bull breakout and trend resumption The monthly Emini candle chart broke out to a new all-time high, but it is at the top of the channel and it is overbought. The monthly S&P500 Emini candle chart had a bull breakout and trend resumption. It broke below an ioi sell signal […]
Intraday market update, February 13, 2015:
Double top or bull breakout
Posted 6:55 a.m. The Emini broke above the top of the bull channel on the open and it formed a new all-time high. However, the rally lacked consecutive big bull trend bars. Also, yesterday was in a tight channel for 4 hours, and that is extreme behavior. Although the Emini is always in long, it […]
Intraday market update, February 12, 2015:
Bull trend channel
Posted 6:57 a.m. Most days over the past 2 weeks have begun with tight trading range trading within the first hour, and today followed that pattern for the first few bars. Because of the gap up to the top of a channel, and because yesterday’s strong rallies both fell below their breakout points, the odds […]
Intraday market update, February 11, 2015:
Buy climax testing resistance
Posted 6:49 a.m. The day began with several dojis and a limit order market, as it has for most of the days over the past couple of weeks. When that is the case, traders wait for a strong breakout up or down with follow-through before they will swing trade. At the moment, the Emini is […]
Intraday market update, February 10, 2015:
Breakout of a bull flag
Posted 7:03 a.m. The Emini opened above yesterday’s high and then formed a small tight trading range. This was a trading range start and it reduced the chances of a strong trend day today. Traders need a strong breakout with follow-through to be comfortable with swing trading. Without that, they are more inclined to take […]
Intraday market update, February 9, 2015:
Pullback at the top of the trading range
Posted 7:00 a.m. The day began with a tight trading range at yesterday’s low. The bulls were hoping for a wedge bottom, and the bears wanted an opening reversal down from the moving average. Several days last week had a similar open. When the Emini looks like this, traders are hesitant to swing trade until […]
Foreign currency exchange trade of the week, February 7, 2015:
Forex double top bear flag
Example of foreign currency exchange trade of the week: Forex double top bear flag in USDCAD 5 minute chart The 5 minute Forex USDCAD candle chart had a strong rally, but failed to get above the prior lower high. This trapped bulls into buying high and bears into waiting to short. The 5 minute Forex […]
Emini weekend update: February 7, 2015:
Breakout of a small monthly bull flag
Monthly S&P500 Emini candle chart: Breakout of a small monthly bull flag The monthly Emini candle chart triggered a sell this week by falling below last month’s low, but the stops for the bears were hit on Friday when the Emini reversed back above last month’s high. As it did so, it triggered a small […]
Intraday market update, February 6, 2015:
Bull breakout of the trading range
Posted 7:01 a.m. The Emini broke out above the month long trading range and has found sellers. The 3rd bar of the day was a credible sell signal bar and put the market always in short for a failed breakout above the 5 minute bull channel and yesterday’s high, and a failed breakout above the […]
