Uncategorized

It appears we are in a large two-tiered down channel this morning. Looking at the daily chart, prices have turned lower at the down sloping trendline as well, so it looks like prices may be headed lower today. Prices could find support and reverse at some point, but for now, the trend and bias are

Prices are rallying this morning and strongly thus far. If you look to the daily chart, you will see that prices are right at the down sloping trendline. Unless that trendline is going to give way, we may have capped out at the highs for the day. Prices could turn lower now but be patient

Prices look range bound today with mixed trading. As I stated yesterday, it appears we are now moving into a bear phase with the market, although we got extremely oversold in the ES, so a rally day was not a real surprise yesterday, as we needed to relieve some of the oversold pressure. If we

Prices started out lower again today but have rallied mildly off of the lows. There is a two-tiered channel working higher, but there was what looks to be an overshoot of that channel, which could mean we are headed lower again now. The uptrend was very mild with mixed trading anyway, so a reversal back

My area is being hammered by a large winter storm today, and more snow is predicted for later today. If you live in the South or have ever visited in the winter, you know that we do not have the capability or the knowledge to deal with large amounts of snow. lol Everything just shuts

Today looks to be a possible range day. Prices are testing the lows as I am typing this up, so we will need to see if the lows continue to hold or if they will give way and prices will push lower. For the moment, I would say the overall bias is slightly down, but

Prices were mixed to slightly up prior to the Job and PMI reports that came out at 9:00 AM CST. Prices turned lower on that news and are attempting new lows for the day as I am typing this up. For now, the trend and bias are both down. Stay with that until the market

Welcome back to a new year of trading. I hope everyone had an enjoyable break and holiday season. Happy New Year to each of you! As you would expect, I am way behind from being away for over two weeks, so it will take me a day or two to catch up. Please be patient