Uncategorized

Prices sold off during the early morning trading hours, only to reverse and start trending higher just after the regular session opening. Prices were severely oversold on the daily chart, so a rally was certainly due and needed. It is possible that this will be a range day, but prices have broken higher out of […]

Once again prices sold off early, only to recover shortly thereafter. Prices have now turned downward again, but there is a possible trendline working higher, so we will need to see if it holds. For now, I would call prices mixed, and they could move quickly and strongly in either direction. Trade wisely and carefully,

Prices started out sideways again this morning but found support just after the 8:30 AM CST regular session opening and have rallied since that point in time. Prices found support right off of the lower support line of the smaller channel on the daily chart, so it is possible a bottom has been put in,

I am posting this a bit early this morning because I have a dentist appointment I have to attend. I figured early was better than later. Prices turned up right off of the support of the smaller channel on the daily chart, and while it did look as if that was going to hold, prices

Someone recently asked why I do not mark the trades on this mid-morning chart. The idea for the mid-morning chart is not to show any setups or trades. The reasoning for it is simply so you can compare your early chart to mine and make sure that you are on the right track with your

We did indeed get follow through selling today after turning lower off the highs of the range on the daily chart. For now, and if the sideways action continues on that chart, we could see some more selling over the coming days. Prices are testing the 21 EMA on the Envelope bands, so that will

There are no news items today to worry about, but the market has seen a nice correction already today. I see a two-tiered down channel that is still in play as I am writing up this morning’s report. Although there is a break of the trend line now, a retest of the lows is still

Prices turned lower during the overnight session after reaching the overhead resistance at 6157.00 on the daily chart. If the resistance holds, we could see prices turn down again for a bit. At the moment, prices are sideways and in a tight range. There is an FOMC announcement today at 1 PM CST, so I

Prices are currently in a down trend, although they did fill the gap that was on the chart, so prices could try and rally again, although I do not see any clues that that is about to happen yet. For now, the trend and bias are down, and the spike and channel down I see

Prices are rallying this morning, and there is a spike and channel up that is still in play with no breaks yet. Note that the daily chart is not showing new highs, but prices are making higher swing lows on every correction, which could mean prices are going to go higher soon. Nothing is ever