Posted 7:15 a.m. The Emini has a possible parabolic wedge top buy climax. It had a strong breakout to a new all-time high on the open and it is clearly always in long. However, a strong rally like this is usually followed by a trading range that lasts for hours and it often becomes the […]

Posted 7:15 a.m. The Emini opened with a tight trading range in an overbought bull trend. It is within yesterday’s tight trading range and within the tight trading range of the past 6 days. This is a limit order market. Bulls are buying below bars and scaling in lower, bears are selling above and scaling […]

Posted 7:25 a.m. The day began with a continuation of yesterday’s broad bull channel. The odds are that it will evolve into a trading range. Less likely, it will have a bull breakout and become a strong bull trend. The bears need a second entry short or a strong bear breakout. As I write, the […]

Posted 7:24 a.m. The Emini ended yesterday in a bull trend and it had consecutive bull bars on today’s open, reaffirming the trend. However, the initial rally lacked big bull bars and strong follow-through. This means that it is not yet likely that this will be a trend from the open bull trend day. The […]

Posted 7:14 a.m. Today opened with a gap down in an overbought bull trend. Day traders are looking for a strong breakout with follow-through up or down before they are willing to swing trade. Until then, they will mostly scalp. Since 6 of the past 8 days were doji candles on the daily chart, the […]

Posted 7:12 a.m. The Emini opened within yesterday’s trading range and the trading range price action continued. It is in breakout mode in an extremely overbought market, and this will lead to either trend resumption or trend reversal. Day traders are waiting for a strong breakout up or down, with consecutive strong trend bars. Until […]

Posted 7:08 a.m. There is a buy climax on the daily chart, but there is no clear sell signal yet. The Emini had a trading range open and it is likely to enter a tight trading range on the daily chart after such a climactic bull microchannel. However, there will still probably be at least […]

Posted 7:18 a.m. The Emini opened with a trading range open in a strong bull trend. It will decide between closing above yesterday’s high, creating an all-time weekly high close, or below weekly support below. Traders need to see a strong breakout up or down, with follow-through, before swing trading. Since the targets above and […]

Posted 7:15 a.m. Today began with a trading range open after briefly testing above yesterday’s high, which is the all-time high. It is also following 4 trading range days, and this increased the chances that today will again have mostly trading range price action. Yesterday’s range was small so today could become an outside down […]

Posted 7:02 a.m. The Emini opened with a trend from the open bear trend, reversing down from a new all-time high, double top, and expanding triangle on the daily chart. The initial selling was so strong that the odds of an opening reversal and bull trend day are low. Today will probably be either a […]