Posted 7:24 a.m. The Emini gapped up above yesterday’s high, the low of last week, and yesterday’s bull channel, but immediately found sellers. The low of last week might be the most important magnet today, as I discussed below. The Emini began with a tight trading range within Tuesday’s and Wednesday’s range. The bears wanted […]

Posted 7:31 a.m. The Emini began with a series of bear trend bars after its gap down, but because the past 4 days have been mostly sideways and the Emini is near support, bears know that a reversal up and low of the day can happen at any time. This makes them quick to take […]

Posted 8:06 a.m. The Emini opened again in a tight trading range, which increased the chances of a lot of trading range price action today. The odds are that the Emini will rally to test the 1969 lower high by the end of the week. It is in a trading range on the daily chart, […]

Posted 7:12 a.m. The Emini began with a trading range open, which meant that day traders began to look for a double bottom or wedge bottom to buy, or a double top or wedge top to sell. It was a limit order market initially. The bulls wanted a reversal up above last week’s low because […]

Posted 7:20 a.m. The Emini had 4 doji bars in the first 5 bars, and entered a breakout mode market. This initial trading range price action increases the chances for a lot more trading range price action today, and it reduces the chances of a strong trend day up or down. Traders need to see […]

Posted 7:26 a.m. PST The Emini had a strong bull reversal on the 1st bar, but then weak follow-through. Although the Emini became Always In Long on the first bar, the bad follow-through made a trading range likely. The bulls want a bull channel or a double bottom HL MTR. The measured move up is […]

Posted 7:19 a.m. The Emini opened with a tight trading range within yesterday’s trading range. It initially was a limit order market, and this increased the chances for a lot of trading range price action before the FOMC announcement at 11 a.m. Day traders hope that there will be a breakout with follow-through in either […]

Posted 7:31 a.m. Today opened within the tight trading range from the end of yesterday and continued with tight trading range, limit order trading initially. This increased the chances that today will spend a lot of time within tight trading ranges, and it reduces the chances that today will become a trend day. If it […]

Posted 7:29 a.m. The bears got 4 consecutive bars on the open and then a lower high, but the bulls got a strong reversal up from just above the moving average. The bears saw this as a double top. When that happens, the bulls hope that any selloff will result in a double bottom and […]

Posted 7:15 a.m. The Emini reversed down from yesterday’s wedge top and fell for 4 consecutive bars. It was Always In Short, but at the apex of a tight 60 minute triangle and at all 3 moving averages, which are flat. This is a bear leg within a trading range, and it is less likely […]