Stock market election selloff should test 2050 support Updatted 6:47 a.m. The Emini reversed up on the 1st bar, forming a double bottom with yesterday’s low. Furthermore, yesterday reversed up from a 3 day wedge bottom on the 15 minute chart. Therefore, the Emini will probably go sideways to up for about 10 bars on […]
Stock market election selloff should test 2050 support
FOMC stock market rally on unchanged interest rates should fail
Intraday market update: November 3, 2016
FOMC stock market rally on unchanged interest rates should fail Updated 6:43 a.m. While yesterday reversed up from a higher low major trend reversal, just above the July 2015 high, the 1st bar today was a doji within a 3 hour trading range. That 1st doji and the 3 hour range and the magnet below […]
Presidential election selloff through 2100 support
Intraday market update: November 2, 2016
Presidential election selloff through 2100 support Updated 6:43 a.m. Because of yesterday’s reversal, today will probably be a trading range day. This is especially true because most days for 4 months have been trading range days. Furthermore, today’s FOMC announcement at 11 a.m. creates added uncertainty. The odds are very high that the Fed will […]
Stock market ignoring FBI investigation of Clinton emails
Intraday market update: November 1, 2016
Stock market ignoring FBI investigation of Clinton emails Updated 6:53 a.m. The Emini opened in the middle of yesterday’s range and the 1st bar had prominent tails above and below. It did nothing to change the minds of traders. It therefore increased the odds that yesterday’s limit order market trading will again be common today. […]
Stock market election volatility
Intraday market update: October 31, 2016
Stock market election volatility Updated 6:42 a.m. The day began with 2 small dojis near the top of yesterday’s trading range. These bars increase the chances of a lot of trading range price action today. Resistance above is at the 60 minute moving average and the August 2 low. Support below is at the bottom […]
Presidential election stock market correction or rally
Emini weekend update: October 29, 2016
Monthly S&P500 Emini futures candlestick chart:Stock market presidential election pullback The monthly S&P500 Emini futures candlestick chart dipped below the September low. It is therefore the 2nd month of the pullback. Yet, it is a small bar following 2 dojis, and therefore neutral. The monthly S&P500 Emini futures candlestick chart is in a bull trend. […]
Emini bear flag pre-election breakout attempt
Intraday market update: October 28, 2016
Emini bear flag pre-election breakout attempt Updated 6:44 a.m. The Emini sold off on the open, but reversed up strongly. It is trying to form an early low of the day after yesterday’s big outside down day at the bottom of a 2 week trading range. Because yesterday’s bear channel was tight, this 1st reversal […]
Awaiting presidential election stock market correction or rally
Intraday market update: October 27, 2016
Awaiting presidential election stock market correction or rally Updated 6:52 a.m. The Emini reversed down strongly from above yesterday’s high and is Always In Short. It is testing the 60 minute moving average. The bulls therefore hope that this selloff will form an Opening Reversal up from support. Hence, they want an early low of […]
Donald Trump’s stock market effect
Intraday market update: October 26, 2016
Donald Trump’s stock market effect Updated 6:46 a.m. While the Emini opened with a big gap down, 2 of the first 3 bars were dojis. Therefore, there was no sense of urgency. Because this is a bear breakout below bear channel, there is a 75% chance of a sideways to up move to the top […]
Weak Emini head and shoulders bottom breakout
Intraday market update: October 25, 2016
Weak Emini head and shoulders bottom breakout Updated 6:52 a.m. The Emini reversed up from below yesterday’s low on the open. Since yesterday had a small range, the bulls have a reasonable chance of forming an outside up day today. The bears hope that the early rally is simply a pullback from the breakout below […]