Posted 7:02 a.m. The Emini opened with quiet trading, which was likely after yesterday’s buy climax. The pullback began in the final hour yesterday, and the bulls see this as a pullback after an overdone rally. The bears are hoping that the rally was the 3rd push up on the 60 minute chart and a […]

Posted 7:05 a.m. The Emini gapped down, but had trading range bars on the selloff to test yesterday’s low. The bears got a breakout below yesterday’s low to trigger the low 2 short on the daily chart, but the follow-through has been weak. This makes the selloff more likely a bear leg in what will […]

Posted 7:00 a.m. The Emini had an opening reversal down from the 15 minute moving average, and is always in short. Yesterday had a lot of two sided trading. The market is now between the support of the 60 minute moving average and yesterday’s low, and the resistance of the 15 moving average and yesterday’s […]

Posted 7:00 a.m. The Emini yesterday ended always in long and gapped up today and rallied above the neckline of the 3 day double bottom. The bulls want to get above the lower high at 2075.00 because that was the most recent lower high in the bear channel. If the bulls succeed, then the 60 […]

Posted 7:00 a.m., and updated 7:05 a.m. The day opened with big bars and prominent tails at the 60 minute moving average and within yesterday’s tight trading range. This is trading range trading and it increases the chances that today will be a trading range day. Until there is a strong breakout up or down […]

Posted 6:53 a.m. The Emini broke strongly above the 5 minute broad bull channel and had good follow-through on the breakout. The top of the 60 minute bear channel is around 2052, and that is an obvious target. With such a strong reversal up from such an oversold market, there is a 70% chance that […]

Posted 6:54 a.m. Today opened with a doji within yesterday’s tight trading range. Yesterday was in a broad bear channel, which usually evolves into a trading range, and the day was mostly within a tight trading range. There are targets below and above. This increases the chances of a trading range day. Until there is […]

Posted 6:57 a.m. The Emini opened with a big gap down and then sold off further. Because it is so far below the moving average, it will probably go sideways to up soon for an hour or more until it gets closer to the moving average. At that point, the bears will try for a […]

Posted 7:00 a.m. The Emini opened with a bull bar, but it had a tail on top. However, it was the 7th consecutive bull trend bar, and the Emini was always in long. Yesterday had a moving average gap bar at 11:15 a.m., and that usually is followed by a major trend reversal. Although the […]

Posted 6:50 a.m. The Emini had a big gap down, but reversed up again from the December high. Although the first several bars had bull bodies, they had prominent tails on top, which is a sign of a lack of conviction. When the market opens with a big gap and the reversal is not strong, […]