Monthly S&P500 Emini futures candlestick chart:13 months without a pullback The monthly S&P500 Emini futures candlestick chart has not had a pullback in 13 months. With 4 days remaining in November, this month so far is a small bull bar. If it closes below its high, it would represent a loss of momentum after 2 […]
Trump corporate tax cut rally might stall with budget vote
Trump corporate tax cut rally testing 2600 Big Round Number
Intraday market update: November 22, 2017
Trump corporate tax cut rally testing 2600 Big Round Number Updated 6:47 a.m. The Emini opened within yesterday’s 6 hour range. This increases the chances of a lot of trading range trading today. In addition, it reversed twice in the 1st 3 bars. This is more trading range trading, and it reduces the chances of […]
Trump corporate tax cut weak Emini rally continuing, despite buy climax
Intraday market update: November 21, 2017
Trump corporate tax cut weak Emini rally continuing, despite buy climax I will update around 6:44a.m. The Emini gapped up and began with a pair of strong bull bars. This makes a bear trend day unlikely. The odds now favor either a bull trend day or a 1 – 2 hour trading range. If there […]
Trump’s tax cut vote this week is catalyst
Intraday market update: November 20, 2017
Updated 6:44 a.m. The Emini opened in the middle of Friday’s tight trading range. Hence, today’s open is a continuation of that range. In addition, the 1st bar had a big tail below and therefore was a trading range bar. The 2nd bar was a bull inside bar and therefore a buy signal bar for […]
Trump’s tax cut vote is catalyst for 5% correction
Emini weekend update: November 18, 2017
Monthly S&P500 Emini futures candlestick chart:Trump’s tax cut vote is catalyst for 5% correction The monthly S&P500 Emini futures candlestick chart has a small bar so far this month. Every bar for the past 12 months has a low above the low of the prior bar. That is a 13 bar bull micro channel and […]
House and Senate voting on Trump’s tax cut bill
Intraday market update: November 17, 2017
House and Senate voting on Trump’s tax cut bill Updated 6:46 a.m. After yesterday’s strong rally, today continued the endless pullback. It began with doji bars just above the 60 minute 20 bar EMA, and around a 50% pullback. Because the selloff from yesterday’s high was in a tight bear channel, the 1st reversal up […]
Emini buy climax pausing before Trump’s tax cut vote
Intraday market update: November 16, 2017
Emini buy climax pausing before Trump’s tax cut vote Uppdated 6:48 a.m. The bulls gapped above yesterday’s high and the 60 minute 20 bar EMA, but the 2nd bar was a strong bear bar. This is consistent with all of the reversals over the past 3 weeks. In addition, it lowers the chances of a […]
Emini tight trading range before budget and tax cut votes
Intraday market update: November 15, 2017
Emini tight trading range before budget and tax cut votes Updated 6:48 a.m. The 1st 2 bars were big bear bars closing on their lows. Furthermore, by breaking below last week’s low, the selloff triggered a sell signal on the weekly chart. The odds favor a bear trend day. However, there could be a deep […]
Emini awaiting Trump’s tax reform vote and budget deal
Intraday market update: November 14, 2017
Emini awaiting Trump’s tax reform vote and budget deal Updated 6:47 a.m. After a big gap down, today reversed up from the below yesterday’s low and the 20 day EMA. Yet, the buy signal bar was a doji, which is a one bar trading range. In addition, it had a bear body. While this has […]
Emini test of wedge top before Trump tax reform vote
Intraday market update: November 13, 2017
Emini test of wedge top before Trump tax reform vote Updated 6:44 a.m. The Emini gapped below Friday’s low, but the 1st 2 bars were bull bars. This is a small Big Down, Big Up pattern, and it makes an early trading range likely. The bulls want a failed breakout below yesterday’s low. If there […]
