Posted 7:00 a.m. The Emini had a small gap above the tight bear channel and then rallied for several bars. The bears want the rally to be another lower high and for it to become to an opening reversal that leads to a push below yesterday’s low. The bulls want to get above and hold […]

Posted 7:05 a.m. The Emini is searching for a bottom and it probably will soon reverse up from a 60 minute wedge bull flag. However, there are still targets below and they may have to be reached before there will be a 60 minute rally. The Emini reversed up from below yesterday’s low and it […]

Posted 7:15 a.m. The market had a big gap up, but then tested the bottom of yesterday’s trading range. The trading for the first 30 minutes was tight trading range price action. The big gap up after yesterday’s big selloff increases the chances that this early selloff will become a bear leg in a trading […]

Initially posted 6:15 a.m., and then updated 7:05 a.m. The Emini gapped below the neckline of the 3 day double top bear flag, but reversed up sharply. However, yesterday’s selloff was steep and this increases the chances that the Emini will go sideways for many bars after the initial rally, rather than straight up to […]

Posted 6:45 a.m. The Emini began with a strong bull trend and formed a trend from the open bull trend. It is always in long. The rally is strong enough to make a bear trend day unlikely. However, the day could become a trading range day. If so, the Emini will then make a choice […]

Posted 7:10 a.m. The Emini opened at the bottom of yesterday’s trading range, and then had a bear breakout. This is a trend from the open bear trend. The bears prefer a strong bear breakout and a trend from the open bear. They do not mind if the Emini rallies as long as it fails […]

Posted 6:50 a.m. Today opened with a big gap down, creating a big island top with the November 21 gap up. Most gaps up and down have failed over recent weeks. However, the Emini is so overbought on the higher time frames that traders are aware that a correction down can happen at any time. […]

Posted 7:15 a.m. Although the Emini opened with an expanding triangle buy setup on the first bar, the signal bar was a doji and it is in the middle of a 4 day trading range. The Emini then entered a tight trading range. Although there have been many swings up and down over the past […]

Posted 7:29 a.m. As I write, the Emini is always in long and in a bull channel, but it is still below yesterday’s high. The bulls need a breakout soon, or the market will reverse and test yesterday’s low. Also, they need follow-through after that breakout if today will become a bull trend day. Otherwise, […]

Posted 6:55 a.m. The Emini gapped below the bull channel, but it opened just above the 60 minute moving average and within yesterday’s 5 hour trading range. This gap down triggered the 60 minute higher high major trend reversal, and the 5 minute chart is likely to go sideways to down for at least a […]