Posted 7:21 a.m. The bulls got a strong breakout above yesterday’s tight trading range, but the rally lasted one bar and stalled at the 60 minute moving average, Friday’s low (the top of the gap on the daily chart), and at the leg 1 = leg 2 target based on yesterday’s early strong bull breakout. […]
Intraday market update: June 16, 2015
Emini weekend update: June 13, 2015:
Learn how to trade the markets in breakout mode
Monthly S&P500 Emini futures candlestick chart: Strong bull trend, but buy climax The monthly S&P500 Emini futures candlestick chart is in a small pullback bull trend with no sign of a top, but since this is 36 months without touching the moving average and that is historically unusual, a reversal down to below the moving […]
Intraday market update: June 11, 2015
Learn how to trade a strong breakout
Posted 7:07 a.m. The bulls tried for bull trend resumption on the open, but the rally was weak. Also, yesterday’s 5 hour tight trading range after a buy climax is a possible final flag. It is an area where bulls and bears agreed that the price was fair. The bulls need to break strongly above […]
Intraday market update: June 10, 2015
Learn how to trade a weak reversal
Posted 7:08 a.m. The Emini gapped up and had a trend from the open bull trend. The rally lacked big bull trend bars, and this increases the chances of an early trading range. Also, it reached last week’s trading range, and it might again go sideways here. Finally, the first 6 bars created a parabolic […]
Intraday market update: June 9, 2015
Learn how to trade a spike and channel bottom
Posted 7:25 a.m. The bears got follow-through selling, but the bulls are trying to create a major trend reversal. After the big sell climax on the 2nd and 3rd bars of the day occurring 100 bars into a bear trend, and after yesterday’s gap bars, the odds favor an early low of the day and […]
Intraday market update: June 8, 2015
Learn to trade futures in breakout mode
Posted 7:11 a.m. The Emini opened today with a continuation of yesterday’s weak bear channel. It is testing yesterday’s low, which was last week’s low. It should reach the weekly moving average today or tomorrow, and possibly within the first couple of hours. Because this selloff lacks consecutive big bear bars and is testing support, […]
Emini weekend update: June 6, 2015:
Price action trading at a wedge top
Monthly S&P500 Emini futures candlestick chart: Strong bull trend, but buy climax The monthly S&P500 Emini futures candlestick chart has been above its moving average for 36 months, and this is extremely unusual. There is about an 80% chance of a pullback this year to the moving average, which is about 10% below the high. […]
Intraday market update: June 5, 2015
Trading price action after a big gap
Posted 7:07 a.m. The Emini sold off strongly on the open, but the selloff tested the bottom of a possible 5 day expanding triangle. Also, yesterday’s late trading range is a possible final flag, and a smaller expanding triangle. The bulls are hoping for an early low of the day. The bears want any early […]
Intraday market update: June 4, 2015
Price action trading in a trading range
Posted 7:15 a.m. The S&P Emini futures contract opened with a series of big bars and reversals, creating an early limit order market at yesterday’s low. It then reversed up strongly to the 60 minute moving average. It is always in long, but follow-through has been bad after strong breakouts for the past week, and […]
Intraday market update: June 3, 2015
Swing trading strategies for a breakout
Posted 7:30 a.m. The bulls got an opening reversal at the moving average, and then rallied above yesterday’s high and the 60 minute bear trend line. However, the breakout so far has had weak follow-through buying and this increases the chances that the current bull leg will end up as part of a trading range. […]
