Emini stalling awaiting Congress votes on budget reconciliation and tax cut Updated 6:43 a.m. While yesterday was a sell signal bar on the daily chart, it was an extreme sell climax on the 5 minute chart. That means that there is only a 25% chance of a big bear day today. However, if there is […]

Emini awaiting Senate tax cut and Congress continuing budget resolution Updated 6:45 a.m. Today began with a big gap up, but the 1st bar was a doji bar. That bar increases the odds of a lot of trading range trading today. Furthermore, when there is a big gap up and a rally, it usually stops […]

Emini breakout before Senate vote on Trump tax cut Updated 6:55 a.m. The Emini gapped to a new all-time high. Yet, the low of the day was the open of the 1st bar. That happens about 5 times a year, and in 4 of those times, the Emini usually trades below the low at some […]

Trump tax cut creating Emini wedge top breakout Updated 6:55 a.m. The bulls got 2 bars of follow-through buying on the open, but the rally is a parabolic wedge. In addition, yesterday’s late trading range was late in a buy climax and therefore a possible final bull flag. While the bulls are getting follow-through buying, […]

Emini wedge rally before Senate Trump tax cut vote Updated 6:50 a.m. Today gapped up to a new all-time high, but the 1st bar was a small doji. The past 3 days were small trading range days. Today’s 1st bar increases the chances for today to be another small trading range day. The 4th bar […]

Emini consecutive wedge tops before budget and tax cut votes Updated 6:49 a.m. The Emini broke above Friday’s high to another new all-time high. Yet, Friday was a small day. There is therefore an increased risk that today reversing down to below Friday’s low and forming an outside down day. That would trigger the sell […]

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 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 […]

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 […]

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 […]