There was very good trading in the S&P e-Minis today. It was especially good for a day after a holiday. Supply was evident in the overnight market, as well as off the US open. This allowed for an early short trade. Volume came in strongly to the downside, and a small congestion area resulted in a minor UpThrust and another short opportunity. Volume characteristics … [Read more...]
Free Webinar Today!
Please Note: I made a mistake in the time. The free webinar starts at 5:00 ET, not 4:00. A little later today at 5:00 Eastern Time, we'll be holding a free webinar on reading price bars and volume bar-by-bar. We've had several emails asking what will be covered. We try to pack in a lot of good information for traders in the work we do, including the free stuff. In the … [Read more...]
Friday’s Trades as Market Fell/Free Webinar
Thursday, January 16, was a confined trading day on light volume. Traders would be looking for upside development after this potential test (see daily chart at A). Had the test been immediately successful, new all-time highs in the S&Ps would have occurred. But that didn't happen. After dropping briefly under Thursday's low (see intraday chart at B) and … [Read more...]
Morning Sell-Off Ends with a Spring
Today was an interesting trading day. The market sold down from the overnight high. Although selling was dominant during the early part of the US session, it wasn't overwhelming enough to trigger a trend day down. The Weis Wave told us that. So when the market reached yesterday's low and failed to bring in supply, a Spring was initiated. Thrust in the price bars shortened … [Read more...]
The Week Ahead
After making all-time highs last week, the market as represented by the S&P futures (ES), is pulling back. I think this will be an interesting and telling week. On higher time frames, the market is overbought. That being said, the higher time frames are also in clear and strong uptrends. How the market acts this week will tell us whether the current pull back is just a … [Read more...]
