Posted 6:57 a.m. The Emini reversed up from below yesterday’s low and formed a 2 day high 2 buy setup. If the bulls are able to rally to a new high, the rally will probably fail and create a final flag top. This would create a bigger pullback. The bears are hoping that this 2 […]

Posted 6:53 a.m. Today gapped below the trading range and reversed up from the bull trend line. However, it did not yet reach the 60 minute moving average and it has not yet broken above yesterday’s trading range. Both of these increase the chances of a test down today. If the bulls can break strongly […]

Posted 6:54 a.m. The Emini opened in the middle of yesterday’s range, and yesterday was a trading range day. Most of the days of the past several weeks began with a tight trading range that lasted about an hour, and today is similar. The gap down might be all of the correction that the bears […]

Posted 6:55 a.m. The Emini broke above the top of the bull channel on the open and it formed a new all-time high. However, the rally lacked consecutive big bull trend bars. Also, yesterday was in a tight channel for 4 hours, and that is extreme behavior. Although the Emini is always in long, it […]

Posted 6:57 a.m. Most days over the past 2 weeks have begun with tight trading range trading within the first hour, and today followed that pattern for the first few bars. Because of the gap up to the top of a channel, and because yesterday’s strong rallies both fell below their breakout points, the odds […]

Posted 6:49 a.m. The day began with several dojis and a limit order market, as it has for most of the days over the past couple of weeks. When that is the case, traders wait for a strong breakout up or down with follow-through before they will swing trade. At the moment, the Emini is […]

Posted 7:03 a.m. The Emini opened above yesterday’s high and then formed a small tight trading range. This was a trading range start and it reduced the chances of a strong trend day today. Traders need a strong breakout with follow-through to be comfortable with swing trading. Without that, they are more inclined to take […]

Posted 7:00 a.m. The day began with a tight trading range at yesterday’s low. The bulls were hoping for a wedge bottom, and the bears wanted an opening reversal down from the moving average. Several days last week had a similar open. When the Emini looks like this, traders are hesitant to swing trade until […]

Posted 7:01 a.m. The Emini broke out above the month long trading range and has found sellers. The 3rd bar of the day was a credible sell signal bar and put the market always in short for a failed breakout above the 5 minute bull channel and yesterday’s high, and a failed breakout above the […]

Posted 7:05 a.m. The Emini reversed down from yesterday’s high, triggering an expanding triangle top, but this followed 4 consecutive bull bars so the odds favor buyers below the sell signal bar and at least one more push up. The bears will get higher probability if they wait for a strong reversal down or for […]