Dow 20,000 big round number psychological resistance Updated 7:04 a.m. The Emini reversed up and then down on the open. A Big Up Big Down move is trading range price action. Yesterday was a bear channel, hence a bull flag. A channel usually evolves into a trading range. The bulls see a small higher low […]
Dow 20,000 big round number psychological resistance
Holiday trading makes Dow 20,000 stronger resistance
Intraday market update: December 28, 2016
Holiday trading makes Dow 20,000 stronger resistance Updated 6:55 a.m. The Emini opened within yesterday’s tight trading range, but sold off to test yesterday’s low. Because yesterday was a sell signal bar on the daily chart, the bears see the break below yesterday’s low as a trigger for a daily sell signal. Yet, the Emini […]
Dow 20,000 year end rally
Intraday market update: December 27, 2016
Dow 20,000 year end rally Updated 6:55 a.m. The Emini gapped up and rallied. The Dow is just below its 20,000 big round number. The Emini is at the top of the 10 day trading range, just below its all-time high. Because there has been a strong rally on the open, day traders will watch […]
Emini bull flag at Dow 20,000 big round number
Emini weekend update: December 24, 2016
Monthly S&P500 Emini futures candlestick chart:Strong follow-through buying The monthly S&P500 Emini futures candlestick chart has a big bull bar with one week left to the month. Hence, this is good follow-through buying after last month’s bull breakout. The monthly S&P500 Emini futures candlestick chart is in a bull breakout. Because the channel up since […]
Dow 20000 resistance and possible small double top
Intraday market update: December 23, 2016
Dow 20000 resistance and possible small double top Updated 6:41 a.m. Today opened with 2 small dojis near the top of yesterday’s trading range and at the 60 minute moving average. It also is at the open of the week, which is also a doji so far. The odds are that today will be a […]
Trump rally stalling at Dow 20000 big round number
Intraday market update: December 22, 2016
Trump rally stalling at Dow 20000 big round number Updated 6:52a.m. The Emini sold off on the open and is Always In Short. The bears want a break below last week’s low. This is because last week was a sell signal bar after the prior week’s buy climax. Since the weekly trend is strong, the […]
Trump year end rally pausing
Intraday market update: December 21, 2016
Trump year end rally pausing Updated 6:50 a.m. Because yesterday was a small day, today will probably either go above yesterday’s high or below yesterday’s low. Today opened with reversals in yesterday’s final tight trading range. While traders see the 2nd bar as a failed test of yesterday’s high, the Emini is still in a […]
President Trump Christmas rally Emini bull flag
Intraday market update: December 20, 2016
President Trump Christmas rally Emini bull flag Updated 6:50 a.m. While the Emini gapped up and had 4 bull bars, the gap was small and 3 bars were dojis. Furthermore, this is at the top of a 5 day trading range. The bulls want a strong breakout to a new all-time high. Yet, this rally […]
Year end stock market rally forming bull flag
Intraday market update: December 19, 2016
Year end stock market rally forming bull flag Updated 6:52 a.m. On the open, the Emini broke above the 60 minute moving average and at the 3 day bear trend line. Because the Emini has tested the line many times and had been unable to selloff strongly, the odds favored a bull breakout. A bear […]
Fed interest rate hike causing stock market profit taking
Intraday market update: December 15, 2016
Fed interest rate hike causing stock market profit taking Updated 6:55 a.m. Today’s open continued the evolution into a big triangle. This is a trading range open. Because the triangle is so tall, it might last many more bars. The bulls see a higher low major trend reversal while the bears see a bear channel. […]