Posted 7:13 a.m. The Emini opened with a big gap down and then rallied. The rally had weak follow-through and it looks more like a bull leg in a trading range. Unless the bulls are able to create big consecutive bull trend bars, the odds are that there will be a bear leg that starts […]

Posted 7:09 a.m. Today began with a limit order open just below yesterday’s high and last week’s low. The 2 day rally has been a bear flag. Coming into the day, the bulls wanted a bull breakout back above last week’s low and into the upper trading range. The bears wanted a reversal down from […]

Posted 7:00 a.m. Today opened with a big gap down and the bulls bought it aggressively, creating a trend from the open bull trend and the 4th big reversal since yesterday’s gap down. Even though the swings up and down have been very big, this is trading range price action. There will probably be a […]

Posted 7:00 a.m. The Emini opened with a big gap down, but then then reversed up and down with big bars. This increases the chances that the Emini will enter a trading range for a couple of hours until it gets closer to the moving average. At that point, bulls will see a bottom, like […]

Posted 7:03 a.m. The Emini reversed up from below yesterday’s low, but the bulls have not yet done enough to make the market clearly Always In Long. The selloff and the rally so far lack consecutive strong trend bars. Yesterday was a triangle. Today’s trading range price action is a continuation of yesterday’s. Until there […]

I will post around 6:56 a.m. The day opened within yesterday’s trading range and entered breakout mode. The bulls want either a small buy signal bar near the bottom or a strong bull breakout, and the bears want either a small sell signal bar near the top or a strong bear breakout. Until then, scalpers […]

Posted 7:19 a.m. The Emini sold off strongly on the open from a gap up to the 60 minute moving average and a test of yesterday’s high to far below yesterday’s low. This selling has been extreme and therefore climactic. While it could continue all day, it more likely it will run out of sellers […]

Posted 6:45 a.m. The Emini opened with a big gap down and traded below yesterday’s low, the 60 minute moving average, and the breakout point at the top of the bear flag on the daily chart (the January 27 high). However, the odds are that there will be buyers below yesterday’s low. As bearish as […]

Posted 7:10 a.m. The Emini gapped down to the 15 minute moving average and entered a tight trading range. This is a 20 gap bar buy setup on the 15 minute chart after Friday’s strong bull trend, and that will tend to limit the downside. The big gap down will tend to limit the upside. […]

Posted 7:15 a.m. The Emini opened with a trend from the open bull trend and is Always In Long. Although the rally lacks consecutive big bull bars and tails were prominent, an 8 bar bull micro channel without any bear bodies is enough to make traders buy the 1st pullback for a scalp. With the […]