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The Nightly Updates are sent out Sunday Evening to Thursday Evening for the following  day's trading session. This publication's primary focus is trading the index futures ($ES_F) and ($NQ_F). However, you can also use my nightly updates to trade the following ETF's (SPY), (QQQQ), (SDS), (QID), (DIA), (VIXY), and (DOG)

 

INTRADAY LOG FOR THURSDAY - FEBRUARY 22, 2018

HOW OUR TRADING DAY WENT: The ES rallied 37.50 points from Thursday's low up to the 2731 resistance at noon, and like Thursday reverse again and dropped 34.50 points before bottoming just under our target to cover all shorts. CLICK HERE for a quick video recap of Thursdays action!

22 Feb 2018 09:09 am
Good morning. early run up has to at least get over 12.50 and stick or else another pullback coming on a move back under 10 which would break current uptrend lines on 1 minute chart

22 Feb 2018 09:21 am
the ES went down to around the 82.50-81.50 support area and rallied back about 30 points so if it's reached today, which I doubt, would be a "must hold" area or drop another 10 points or more

22 Feb 2018 09:25 am
there is a chance it could go over 12.50 resistance to 14-15, then needs to hold around 11.50 if a dip and turn up after that

22 Feb 2018 09:25 am
update after the open and then meet you online around 10:20 or a little after

22 Feb 2018 09:31 am
need to take out 10 and not turn right back up

22 Feb 2018 09:34 am
to little tails at the low with buyers at 10, as soon as upside stalls there should be another pullback but my get to 18 area first. Should not take out 22-23 and hold or else low in place for a while

22 Feb 2018 09:36 am
taking out 17.50 area and not turning right back up could be the start of a pullback

22 Feb 2018 09:39 am
first pullback turned up from 16.25 and now will need to avoid going under that area by on the that it holds as new resistance or else a chance of testing rejecting 23-22

22 Feb 2018 09:41 am
22.50 reached so far but no damage done unless 18 area broken and not turn right back up

22 Feb 2018 09:42 am
this initial run-up should be over in the first 30 minutes and could be right up in this area. 23 high so far and needs to get over that and be able to stick borates bearish in a top

22 Feb 2018 09:42 am
I will meet you online around 10:20. Must bounce from 18 or higher or some damage done

22 Feb 2018 09:50 am
good bounce from 12 area but 18 would need cleared and held if there is one or top at resistance it for the day

22 Feb 2018 09:53 am
2708 needs to hold in order to keep this from breaking down bigger. It is a major area at the moment. same was getting back over 16 and holding on the upside. That's all, see you online and just a bit

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

22 Feb 2018 12:01 pm
that ES has been nudging higher after turning up from 2707.75 at 9:55 so far stopping just below the 31-32 resistance, so far but will get better as long as 28-27 continues holding

22 Feb 2018 12:04 pm
a failure at the 30-31 area and reversal back down under 28 would be needed to turn the trend at least for a little bit before another bounce attempt. Good start decent pullback if 23 not held now

22 Feb 2018 12:10 pm
pullback reached 26.50 so far but quickly turned up so it this bounce attempt does not get back to the high or higher and down through 26.50 then a top could be in for a while.

22 Feb 2018 12:14 pm
a feeble bounce attempt and could be headed back to test for break 22 area if this keeps going down under 26 without turning right back up

22 Feb 2018 12:15 pm
or if it holds under 29.50 feeble bounce high, saying under the 30 area and keeping some pressure on

22 Feb 2018 12:23 pm
a failure to clear the 30-31 area and downturn that goes down through 28 area in order to get a reversal of this uptrend, which has had 3 other pullback of about that size already, and last 5-10 minutes. If that's going to happen then it should be fr

22 Feb 2018 12:25 pm
otherwise the choppy uptrend can continue on a push to new highs which would be getting over resistance area

22 Feb 2018 12:26 pm
FYI token higher highs have been sold today so watch for a top just above 31 to be sold

22 Feb 2018 12:26 pm
whatever the case that ES needs to keep going on up through 31 area otherwise topping out up here for a while at least

22 Feb 2018 12:27 pm
and should have a secondary high in place going back under 28 area and then 26.50 especially

22 Feb 2018 12:28 pm
I will be away until about 1:20, but without update when possible if necessary. There is a chance I may not be able to, but I'll do my best. Consider that a top, and stay with a short position for a decent sized

22 Feb 2018 12:29 pm
decent sized pullback/sell off back down to at least the 32-31 area if it cannot hold around 24.50

22 Feb 2018 12:38 pm
so far came back down to the 32.25 target/new support/potential breakdown area and bouncing with some resistance around 26-27 area

22 Feb 2018 12:54 pm
breaking down further with break under and then hold under 21 and heading back to test or break the 12.5-12 area if the feeble bounces not taking out 23-24 area and then holding 21 after that

22 Feb 2018 01:13 pm
that ES made it to 23 and then filled twice at the 22 area as it is breaking down again to the 12.50-12 area and breaking through that goes towards 28th 08

22 Feb 2018 01:17 pm
the ES just dropped about 10 points and about 6 minutes and a bounce should be able and have trouble getting over 18-19 now on a bounce attempt at going to continue holding under 22-23

22 Feb 2018 01:25 pm
pressure is still on for a bigger selloff to test or break the 2708 area which is also around today's early low and reverse this move could happen if unable to hold 11.50 area and then stays at or under 12.50 after that to keep going to/through 2708.

22 Feb 2018 01:29 pm
all of the important turns are coming from resistance or prior resistance/new support and to continue should hold under 23 at most on another bounce and if 11.50 bottom of 12.50-11.50 zone broken, 2706-05 area could be seen

22 Feb 2018 01:29 pm
I need to take a short break at least. Back in 10 minutes or so

22 Feb 2018 01:34 pm
okay another bounce to a dynamic resistance gets sold and about two take out the support which would mean having to or through 2708 and probably 2705 at a minimum on this leg down. Could end up going back under 2700 easily if this continues so stay s

22 Feb 2018 01:54 pm
will need to hold that 2706-2705 prior resistance/new key support area and take out 11.50-12.50 with gusto, otherwise a chance of testing/breaking 2706-2705 on another pullback – but looks like a low at the moment.

22 Feb 2018 02:06 pm
12.50 taken out and then 11.75 held on a dip making a transition attempt back to the upside so needs to hold oh 12.50-12 area or else continue pulling back towards 2706-2705 again

22 Feb 2018 02:11 pm
another breakdown taking out 12, and even another bounce should fail if there is one. It's sell but bounces kind of market ever since coming off of the 31 resistance and stays that way for now

22 Feb 2018 02:18 pm
getting another bounce from the 11.25 level this time and i a lower bounce high and turned down again under 16 area then could come back down to this 11.25 low and if broken back towards 2706-2705 low that new support

22 Feb 2018 02:20 pm
quick drop held at 12.50, and unless that is taken out on another pullback soon then this might have a shot at going for the 16.50-17.15 area maybe more if not a failure near the high

22 Feb 2018 02:22 pm
filled bounce at lower high at 15.00, and market under pressure unless broken above and able to stick and attempt 22 area again which looks doubtful right now

22 Feb 2018 02:25 pm
bouncing from the bottom of the 12.50-11.50 area and unless broken market avoids a breakdown to test or break the low at new major support for today

22 Feb 2018 02:27 pm
right now in a range between 11.15 area and 16 area and a breakout either way needed in order to have a chance to go towards next zone higher or lower

22 Feb 2018 02:33 pm
should hold over 13-12.50 area if a pullback comes down to breakout area, otherwise bounces might stop being able to stick. Has to get over 19 without turning down is going up to 22 area again

22 Feb 2018 02:36 pm
failed bounce attempt should come down to around the 16.50-15.50 area and would need to turned up from around that area if uptrend going to stay tintact

22 Feb 2018 02:39 pm
acting like it could go down right through the 16-15.50 area and set up bouncing and if so and not a upturn from that area than back to or through 12 area again

22 Feb 2018 02:46 pm
so far has reached 12.50 and if it keeps going down through 11 then the door is open to test 2706-2705 again and maybe go to a lower low around yesterday's close if the downside gets momentum

22 Feb 2018 02:50 pm
attempting to turn from 11.75 but no gusto yet and needs to take outat least the 13.50-14.50 area and stick or else still under pressure for a move back towards the low

22 Feb 2018 02:56 pm
still having towards 2706-2705 or lower down to or through the 2698.50 area and possibly 90-88.50 if a bigger breakdown

22 Feb 2018 03:02 pm
new low at 2702.50 reversing at 3 PM, however this bounce should also fail in the ES come back down and take out 2700 still can have been if a bounce holds under 2709-2710

22 Feb 2018 03:08 pm
2700 area tested but not broken yet and still could be a move back down to around the 2698.50 area if this bounces feeble and turns down from 2706 area

22 Feb 2018 03:15 pm
based out at 2700.50 and needs to make a good run up and get above at least 2706.50 area and only have a small pullback after that in order to have a bottom in place for a while at least – unless instantly rejected

22 Feb 2018 03:21 pm
could still work its way up to around the 11.50-12.50 area or more if it can keep going holding over 2706-2705, or oversold bounce and pulled back under way most likely

22 Feb 2018 03:30 pm
to the 11 level was rejected and keeps the market under pressure and could go back down to test or break the lows in the last 30 minutes if that 11.50-12.50 area is not taken out

22 Feb 2018 03:36 pm
have a great rest of your day! selling bounces is still the way to go with this market. if another push lower, look for 2698 area. Catch you in the morning!

 

INTRADAY LOG FOR WEDNESDAY - FEBRUARY 21, 2018

21 Feb 2018 09:12 am
Good morning. this move needs to keep going up through 22-23 or else will be coming back down in the early going here

21 Feb 2018 09:21 am
ES will need to hold the 12 area at worse it looks to avoid 2709 initial support or more. 31 point drop from noon until 3:40 PM yesterday. I'll update after the open and then meet online around 10:20-10:25 roughly

21 Feb 2018 09:24 am
they seem to like to buy them right away lately and would be surprised to see the same today

21 Feb 2018 09:30 am
selling instead today on the open and needs to go through 18 without turning right back up

21 Feb 2018 09:31 am
will need to hold under 20 area and is broken then 23 needs taken out and hold 22 and turns up after that

21 Feb 2018 09:34 am
shakeout and run up and went above 23 and will need to hold around 22-21 and turned back up with gusto or else will end up with an early top and pullback of some sort

21 Feb 2018 09:37 am
ran up through resistance and should not come back down through 22 area now or else reversing and a bounce follows should fail. If a pullback gets turned back up from 23-22 with some gusto then pushing higher to test the high or more could occur

21 Feb 2018 09:53 am
32 33 sold against

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

21 Feb 2018 12:01 pm
the ES made a nice run up to the 37-38 resistance, and that could be a top if this keeps going and breaks the 29 area and take out the stairstep higher pattern. Should get there is a hold under 34.50 area on a bounce

21 Feb 2018 12:04 pm
with the 37-38 being a potential major bounce high, and a high going into the Fed minutes at a minimum, shorts could be taken on a bounce for and entry for a swing trade on the short side

21 Feb 2018 12:05 pm
this is working out similar to 1987 still, and lots of room to go back and test the panic low

21 Feb 2018 12:07 pm
in any case, being short a good idea as this should keep on going back towards the 24 prior low and if that does not hold then could go under the 22 zone which was prior key resistance to start the day

21 Feb 2018 12:15 pm
higher highs and higher lows broken with the ES dropping 9 points from its high to 28.25 minor area before the 24-22 area. Bounce failed and needs to take out 28 and keep on going to or through 23-22 if that happens

21 Feb 2018 12:18 pm
as long as bounces are only about 3-4 points and then turned down and makes a lower pullback low, downtrend intact

21 Feb 2018 12:20 pm
could be a bounce high in place on this move and combat back down to or through 28 area if it gets turned down and with momentum

21 Feb 2018 12:22 pm
I am going to be a way until around 1:15 but will update if possible ASAP if necessary. However I could be tied up most of the time so I'll do my best

21 Feb 2018 12:23 pm
with that been a bounce high as stated down should keep going through 28 on the way down to test or break 24-22 area

21 Feb 2018 12:24 pm
a high was made at noon yesterday and at 11:35 today and then a big pullback began, today may not go 31 points but a good ways from the top at 37-38 resistance

21 Feb 2018 12:56 pm
a bounce from 26.50 just went back up through the 32-33 area and needs to hold 32-31 and get turned back up in order to keep going on up towards the high at resistance

21 Feb 2018 01:22 pm
should continue being bought going into the 2 PM release of the Fed minutes the way this is acting and as long as a pullback doesn't take out 31.50 without bouncing right back up again. If 31.50 is reached, and only a feeble bounce after,then another

21 Feb 2018 01:27 pm
pullback and needs to bounce from 31.50 or else highs are in and it looks that way anyway and should pullback to around 30 if 31.50 broken or else bigger pullback underway

21 Feb 2018 01:30 pm
with the Dow and the ES trading just under their 11:45 AM tops and turns (at resistance on the ES) and the NQ strong yet again today, could make it up to the 37-38 resistance again before Fed minutes

21 Feb 2018 01:35 pm
trouble top in this trading range between 34.50 and 31.50, needs to go under 31.50-31 without turning right back up otherwise buyers still in control

21 Feb 2018 01:39 pm
still needs to get above 34.50 or below 31.50 area to break this range for a bit

21 Feb 2018 01:43 pm
any kind of bounce should be sold now and a swing trade not a bad idea up around these areas. Could put on 1/2 of a position and will look to enter the rest depending on what happens

21 Feb 2018 01:48 pm
quick reversal back up, but still needs to get over 34.58 on this move which it should and then hold after just a small pullback and keep going up to the 37-38 area. 43-44 if broken

21 Feb 2018 01:51 pm
this pullback should hold at or above 32 and get turned back up, or at least hold over that area, for a chance of getting above 34.50 area and a shot at 37-38 for more

21 Feb 2018 01:54 pm
not sticking so far just in front of the Fed minutes at the top of the hour, going under 33 could put some pressure on. Unless broken there could be one more push higher but likely not stick if there is one

21 Feb 2018 02:00 pm
good bounce to sell into and now needs to stay under the 37-38 area and break down under 30-or lower

21 Feb 2018 02:03 pm
spiked up to 43.50 resistance, and a stop at 44 as that resistance is a major area and if cleared/held then breakout towards 53-54. covering and reassess on pullback to 35-34 area for better

21 Feb 2018 02:05 pm
a run up to test the 43.50-44.50 area needs to keep going through, as another failure could lead to hold back that comes under 35.75 pullback low.

21 Feb 2018 02:10 pm
that ES taking out 43-44 area reaching 46.75 so far, it needs to hold and turned back up from around the 41 area or else bigger pullback to or through 38.50 and potential reversal all the way to 34-33 but would need to make another push higher, go pa

21 Feb 2018 02:12 pm
a test of the high area should be sold

21 Feb 2018 02:13 pm
and is happening a little bit but needs to keep dropping under 43 and then stay under that area if this is going to have a decent pullback to the 38 area or more before bouncing

21 Feb 2018 02:17 pm
the tiny double top made at 46.75-46.50 should be hard to get through, and then hold, but instead set up for a pullback to occur close to that high and then would need to come down and take out 41

21 Feb 2018 02:23 pm
4 tops now that 46.75, 46.50, 45.50 and 45.75 and unless taken out and able to hold at the end of the day there probably needs to be a pullback that gets turned up from 40.50 area or higher now

21 Feb 2018 02:24 pm
a fifth time up there has a better chance of breaking through the high

21 Feb 2018 02:28 pm
all of these pop-ups are being sold also and then bid back up after pulling back to around a support area, so expect another run up to get sold into if there is another one and not know down to test or possibly break 42-40.50 key support on a pullbac

21 Feb 2018 02:31 pm
40.75 reached and should have a top in place that should not be broken now unless a buying frenzy somehow starts and could come back down to or through 37-30 6F downside it's a bit more momentum breaking under 40.50 area

21 Feb 2018 02:36 pm
32 point drop from noon until around 3:30 yesterday, and 42 point bounce back to today's top. Now should start some kind of pullback if test of 38.50 goes much further down through 37-36 – important area to hold and not go back under and hold or el

21 Feb 2018 02:37 pm
update in 10 minutes or so if necessary. Right now expect any kind of bounce to fail as it should come down farther

21 Feb 2018 02:51 pm
bounces should fail for the rest of the afternoon as a top of importance should be in place and taking out the 30 area next

21 Feb 2018 02:55 pm
bouncing from 28.75, 19 point drop so far and if this bounce fails to get back above 32-33 and can hold above that area that another push lower comes next,

21 Feb 2018 02:57 pm
has to hold the 28.78 pullback low area and get above 33 and then hold 32 after that in order to get upside going again for a potential last hour bounce, instead of reversal from that area

21 Feb 2018 02:58 pm
it is the 37-38 area to get back above and then hold 37 area afterwards or else a failure from 37-38

21 Feb 2018 02:59 pm
is possible. Especially coming back down through the 28.75 pullback low without turning right back up again. Should be starting

21 Feb 2018 03:02 pm
broke down through 28.75 prior swing low from the 36.50 bounce five and can keep going to or through the 22-21 area where it must bounce or else have a reversal day

21 Feb 2018 03:05 pm
24 level reached and that held around 10 AM on a pullback and should be broken through and keep going down towards the 16 area in order to have a complete reversal from the opening low area

21 Feb 2018 03:08 pm
23-22 seller reached and Bill headed to the 16 area in order to have a complete reversal and could keep going down towards the 12 area if this keeps going like this

21 Feb 2018 03:10 pm
still think this is top,even though stopped out of official recommendation but it's still playing out the way it was supposed to I suppose. Still will be short look for major breakdown

21 Feb 2018 03:12 pm
16 taken out and now has a chance to bounce back a little bit from the 14.25 low, but as to at least break above 22-23 and be able to hold in order to avoid another leg down at the moment

21 Feb 2018 03:19 pm
so far bounced and rejected 22.50 resistance, and needs to get over 23 and hold 22 afterwards if going to get a run up instead of going back to or through the low just under 15 so far

21 Feb 2018 03:22 pm
so far came down and made a slightly higher low at 16.50 so now a break under 15.50-14.75 that is not quickly turned back up needed for further breakdown instead of a bounce attempt that likely fails

21 Feb 2018 03:25 pm
these bounces are not going to stick and should be sold into as this is going to end up ugly in a reversal day

21 Feb 2018 03:27 pm
well with another pullback folding and turning up from 15 this time, another bounce that fails and come back down would need to go through 15-14.50 and then not get turned right back up. A move over 23 that holds over 22 on a dip needed to avoid anot

21 Feb 2018 03:31 pm
pullback held at 22.25 and turned up so now after 33.50 point drop this should not go past 29-30 area in order to stay under pressure to test or break through the lows today or tomorrow

21 Feb 2018 03:33 pm
have a great rest of the day. Update in the evening and then I'll meet you here tomorrow with a comment before the open. Take care! And bounces should still fail

 

INTRADAY LOG FOR TUESDAY - FEBRUARY 20, 2018

HOW OUR TRADING DAY WENT: The week started with the expected selloff that members were able to take advantage of, with some good setups around the numbers. CLICK HERE for a quick video recap of today's action!

20 Feb 2018 09:12 am
Good morning. I have repair man coming this morning that is urgent for me and will be away a bit, but not sure exactly when. But I will just disappear for a while.

20 Feb 2018 09:14 am
unraveling early and needs to get over 22 at a minimum and then 26 and hold. Bounces should fail otherwise

20 Feb 2018 09:14 am
I will update a little after the open if I am here. My apologies

20 Feb 2018 09:21 am
Friday's reversal of the parabolic run up put an end to the strong rally for a while most likely. Time for at least a decent retracement of the 345 point rally

20 Feb 2018 09:24 am
if there is an open over 19.50 that holds and keeps going up from there then 25.50-26.50 area, possibly even 28 area but no further if going to come back down

20 Feb 2018 09:28 am
low at 2709 should must not be seen again, otherwise if it does and then hold under 12.50 area would keep pressure on and mean a big down day

20 Feb 2018 09:30 am
18 needs held. Break and hold under 18.50 after in order to have downside momentum for better breakdown

20 Feb 2018 09:32 am
needs to turned down from 26 area but more important would be taking out 20.50-19.50 area which 20.50 is the open on the day session

20 Feb 2018 09:34 am
losing momentum

20 Feb 2018 09:37 am
only tiny pullback from 26 and 24.50 needs held now that the 28.25 closed from yesterday's short session reached and 30 should be hard to get through but big resistance 32-33

20 Feb 2018 09:39 am
pullback must hold 28 to stay strong or else 24.50

20 Feb 2018 09:40 am
should make a high up here around 30 or 32-33 area at most if there is going to be a pullback in the early going

20 Feb 2018 09:41 am
28.75 rejected and a tiny double top and might be it for this bounce and come back to or through 24.50 area which is key support now

20 Feb 2018 09:45 am
bounce from 25.50 initial support after going back over it and taking out 24.50 should mean a high in place for a bit at least and could come back towards 22 and maybe 20-19 key area

20 Feb 2018 09:46 am
going to be away a while – bounce from 24 and needs to hold that area

20 Feb 2018 10:13 am
theES ran up to the 32-33 initial resistance and immediately turned down and held 1 point above the low so far but should go back down there if this holds under 28

20 Feb 2018 10:18 am
27.50 reached and sold down to another higher low so far as 22.25 and now breaking under 22 can open the door to break the low, but avoids that potential break if 28 reached and not immediately reverse

20 Feb 2018 10:20 am
trading range at this high and 22 to break if 28 not taken out

20 Feb 2018 10:25 am
shouldn't make it back to 32-33 before being sold and can happen if holds under 28.50 and takes out 26.50-26 and especially 24 area

20 Feb 2018 10:26 am
coming down towards 24 or more if unable to get back over 28 and stick very soon

20 Feb 2018 10:29 am
26-25.50 area should be broken through and then held with these bounces beginning to fail now if pressure is going to be put on to test the low area again

20 Feb 2018 10:31 am
back down to the bottom of this strange and so far a higher high at 22.75 and needs to keep going through 22 without turning right back up in order to get further breakdown to test or break the low

20 Feb 2018 10:31 am
should happen if this holds under 24

20 Feb 2018 10:35 am
token lower low taking out 21-19.50 area and under pressure holding under 22 right now what the door opened to test were break the 12 area

20 Feb 2018 10:37 am
made a new low through 21-19.50 down to the 18.00 level so far and should turned back down from 22-23 pressure is still on heading towards 1212 area

20 Feb 2018 10:43 am
22-23 is bounce resistance to clear/hold as this attempts to make a bottom or just another bounce before another lower low

20 Feb 2018 10:46 am
22.75 bounce high and leaves the door open to test or break the low if 20 is taken out and not turn right back up again

20 Feb 2018 10:46 am
if 20 holds another pop-up could reach 23-24 area or a bit more

20 Feb 2018 10:48 am
pullback turned up at 20.50 and ran up to 24 so far and has to get through that and then hold above 20.50 or else still could go down to the low area

20 Feb 2018 10:50 am
the way this is going to keep having decent bounces that fail then the ES should hold under 25.50-26.50 area on this bounce and come back down again

20 Feb 2018 10:53 am
test or break the low area or 19.50 if a much higher low but unless there is a bounce more than 6.50-7.50 points from the low then bounces should keep failing

20 Feb 2018 10:57 am
spiked up sold into and unless a move oh 25.25 pressure on to go to new low

20 Feb 2018 11:01 am
could make a higher low but needs to go over 22-23 in order to break current downtrend

20 Feb 2018 11:04 am
a higher low should be in place now and as a chance of getting back to the 25.50-26.50 area where a pullback could come from although not go very far before going up again most likely

20 Feb 2018 11:06 am
the ES went straight up to 25.75 resistance and backing away but holding 24 and as long as the ES doesn't go back under 24 and hold then could keep going towards 28.50 area

20 Feb 2018 11:08 am
this 27 is where a pullback should come from if there is going to be one before going up through 28.50 or higher

20 Feb 2018 11:15 am
pullback from 27.50 so far holding at 25.25 and unless 27.50 is broken could keep coming down to or through 25-24 area before a bounce attempt or break lower can happen

20 Feb 2018 11:17 am
all bounces have failed since turning down from the initial resistance at 32.25 at 9:50, and so far this bounce failed and has to turn up from 24 otherwise bigger pullback underway to or through 22.50-21.50 area

20 Feb 2018 11:22 am
this will have a shot at getting back up to 32-33 if it can hold around 27 on a dip or higher

20 Feb 2018 11:29 am
made it to the 32 level so far and needs to keep going through 32-33 or else can pullback towards 28.50-28 before bouncing

20 Feb 2018 11:32 am
took out 32-33 and now 32 area needs to hold as new support or else come back to around the 30.50-30 area which needs held for the current uptrend to be strong on upside

20 Feb 2018 11:34 am
12 point rally 14.25 point pullback 16.25 point rally, and this uptrend needs to turn up from 32 area in order to get another push higher to a token higher high at least

20 Feb 2018 11:39 am
there is still a gap on the Dow cash between 25,159 and 21,162 that is going to be left unfilled if this is a bounce high with the Dow topping 10 points from filling that gap. Should test or break 31-30.50 on this move, and bounce that follows gets s

20 Feb 2018 11:52 am
chance for a double top but holding at 30 keeps his out of trouble for now and would need to break that and only have a small bounce after to change the dynamics of this current uptrend

20 Feb 2018 12:00 pm
with the ES holding 35.75 and above prior resistance opens the door to go up to the 38 area and if that is taken out then the major area of that 42-43 would be next

20 Feb 2018 12:05 pm
buyers backing away a bit from just under 38, and to avoid being a top 34.50-33.50 needs help otherwise could be a dent in the uptrend and a bounce that follows have a hard time holding

20 Feb 2018 12:11 pm
if a double top then must told 35 otherwise a chink in the current strong uptrend, instead of continuing grind higher

20 Feb 2018 12:12 pm
should be tops in place now and going under 30 could be picking up momentum

20 Feb 2018 12:12 pm
should stay a good short under the double top as that has low risk and good potential reward if a reversal

20 Feb 2018 12:15 pm
a break under 34.50-34 that is not turn back up and take out 35.50 needed at the moment in order to have a breakdown attempt. Could pop-up to another higher high otherwise

20 Feb 2018 12:18 pm
gap on the Dow cash filled also. At the moment fill strong holding over 35.50-35 zone. Reversal possible is broken and then hold under 35.50 area

20 Feb 2018 12:23 pm
double-top/123 top in place at the moment and holding under 36 keep pressure on to go back under 34 down to around 30.50

20 Feb 2018 12:25 pm
holding under 36 needed to keep pressure on, test or break 32.50 area and if broken then 30 area is a key support. if reached and not quickly turned up again a potential breakdown area.

20 Feb 2018 12:30 pm
pullback reach 33 so far. With S&P 500 cash closing up 6 straight days it will need to go back down under 30 it looks in order to break the winning streak and close up 7 days in a row

20 Feb 2018 12:33 pm
a run up was filled badly so far, and still must hold on to the 34-33 or else headed to or through 30 area. should sell bounces from here on out

20 Feb 2018 12:35 pm
I will be away until around 1:20 roughly and will update if necessary ASAP. could get a bit more choppy up here but unless the ES gets back over 37.50 and then holds at or over 34-33 afterwards

20 Feb 2018 01:05 pm
listenit looks like the ES has made it top and bounces should be failing now especially if a move back down to around 30 and then hold under 32 after that

20 Feb 2018 01:24 pm
with the drop coming down26.50-25.50 zone and bouncing it still needs to at least get back over 32.50 or else still is vulnerable and could breakdown through that support if this bounce stalls and rolled over

20 Feb 2018 01:26 pm
also with the bounce not able to get over 30 keeps pressure on as that needs taken out and held just to attempt breaking current downtrend which should be headed towards the low area next again

20 Feb 2018 01:34 pm
so far held at the middle of the 26.50-25.50 prior initial support, and that area was pivotal on the way up and is turning that way on this pullback. Must hold 26 and get above 30 and stick for another move may be towards the highs if not a quick mov

20 Feb 2018 01:39 pm
need to hold 28 now that 30 has been reached again otherwise back down to or through 26 instead of a level pop-up that gets sold at 32-33 instead

20 Feb 2018 02:03 pm
that ES has been bouncing between the 22.50-25.50 area and the 32-33 area and must continue holding around 28.50-27.50 or else continue going to or through 26-25.50 area

20 Feb 2018 02:04 pm
with the Dow rolling over also the 32 area is going to be hard to take out and unless it does there should be another push lower after this bounce fails hundred 32

20 Feb 2018 02:06 pm
S&P 500 cash should close to day under that 32 area if the S&P 500 cash is finally going to have a down day for the first time in the last 7 trading days so keep shorting bounces as they should not stick

20 Feb 2018 02:07 pm
this will be under pressure holding under 32-33 down to the 26.50-25.50 area and if that is also broken through and holds then to the lows or lower end of the day

20 Feb 2018 02:10 pm
trying to hold 26.50-25.50 again, but should be sold on a bounce and broken through's own here. a close under the 20.50 regular trading hours open will make this pattern look more bearish today

20 Feb 2018 02:15 pm
to the 21-19.50 area where it will need to bounce again to avoid going down to or through the 18 low for the day so far. A bounce should hold at or under 26-27

20 Feb 2018 02:24 pm
with the ES holding 3 ticks above the 21-19.50 zone still a chance it can be tested for broken if a bounce is turned down from 26.50 area. Otherwise a chance for a bit more upside before another pullback of some sort

20 Feb 2018 02:28 pm
19.75 point bounce and a 16.00 point pullback so far, but if this bounce doesn't take out 32 area on this little run up with some gusto but sold into instead, it could come back down to test this low area or break it after that

20 Feb 2018 02:29 pm
pressure stays on with this holding under 26.25 bounce high so far.

20 Feb 2018 02:32 pm
pullback was quickly bid back up from 22.50, and that area needs held on any dip if this is going to keep pushing higher at least through 26.25 maybe up to the 28.50 and possibly 32-33 again

20 Feb 2018 02:43 pm
this is a bearish pattern building at the moment and needs to break under 24.50-24 and could pick up momentum on the downside to test or break the pullback low area.

20 Feb 2018 02:44 pm
would need to come down and make a higher low and then get turned back up with some gusto again in order to get another bounce but not take out 32-33 and hold this afternoon – or would be turning strong again for a little while at least

20 Feb 2018 02:47 pm
small bounce turned away at 27 and keeps pressure on to test or break the pullback low area. 27-28 area resistance to clear/hold to avoid bigger breakdown

20 Feb 2018 02:50 pm
higher low going to be made but bounce from that should fail and come back down again to test or break through 22.50-21.75 low area

20 Feb 2018 02:51 pm
the NQ also has a topping pattern and would need to get over 6828.50 in order to avoid more downside damage this afternoon, heading to or through 6802-6800 area next

20 Feb 2018 02:54 pm
20.50 reached so far and going through the 18 area could happen and if it does not pick up momentum then another bounce making a lower high keeps the stairstep down going

20 Feb 2018 02:57 pm
similar to 1987 action and Fridays parabolic top at 54 area should not be seen for a while as this should continue unwinding like this for another day or so. Won't be a straight line down to test the V bottom

20 Feb 2018 03:00 pm
NQ had a sharper drop down to 6786 and snapped back to 6796 and that area or a tiny bit above should be resistance on bounce attempts

20 Feb 2018 03:04 pm
should not go up and get above 27.50 from this double bottom of sorts to break the stairstep down pattern. Instead should be just a 5-6 point bounce and turned down from below 27.50 and make another lower low to keep it going

20 Feb 2018 03:05 pm
before getting to or above that area there is resistance that should be sold at or near 21.75-23 area and not much more in order to keep pressure on for another lower low

20 Feb 2018 03:07 pm
off of the top there has been a pullback and then a bounce to a lower high around 12:50, another from 26 support up to 32.25 resistance, and from 21.75 up to 27.50. Should keep making lower highs/lower lows like this and keep going towards 12

20 Feb 2018 03:08 pm
headed for the 12 area at a minimum it appears

20 Feb 2018 03:10 pm
could take out the 12.50 area which should be a major area down here and if not able to hold then could be going towards 2708 area next and down under 2700 tomorrow sometime if not a collapse down there today

20 Feb 2018 03:17 pm
a poke under the 12 area down to 10.50 so far and will need to stay above 11.50 area or else could go back lower to around the 2708 area, but a bounce back above 15.50-16.50 needed in order to attempt changing directions here and not going back towar

20 Feb 2018 03:17 pm
back to the low or 2708 unless that area is taken out and able to stick

20 Feb 2018 03:19 pm
bounces have failed ever since topping out at noon and should continue as long as the ES doesn't get back over 21.50 and hold above that level after taking it out

20 Feb 2018 03:22 pm
taking out the early lows and holding had this pick up some momentum and now holding under 12.50 and pressure on and less broken and held headed down totake out the 2700 level

20 Feb 2018 03:24 pm
2704.50-2704 area a very small support before going under 2700 area, and would need a turn around in the last 30 minutes with some gusto, get back over 12.50-13.50 area with gusto and enough momentum to be able to hold

20 Feb 2018 03:30 pm
bounce back up to 12 area so far, and would need to go through 12.50 with gusto and hold and be strong enough to take out 14-14.50 area and then hold and turned up again from around 12

20 Feb 2018 03:34 pm
that ES has been stairstep and lower all day but did take out 14.50 and turned up from 11.75 so far. so it will take a move that at least gets over 15.50 and can keep going up and take out 21.50. That transition zone key area to get through, or still

20 Feb 2018 03:35 pm
in the last 25 minutes it looks like the ES needs to hold around the 12 area, not go back under that area otherwise could go back down to the low area one more time and maybe make a lower low

20 Feb 2018 03:38 pm
if there is just a small pullback and another run up, it then needs to keep going up through 21.50-23 area can break the stairstep lower pattern if not turn right back down from that area

20 Feb 2018 03:39 pm
have a great rest of your day! We will have a live session tomorrow morning. Check out tonight's update and then I will meet you in the morning. Bigger picture selling not over. Take care

 

INTRADAY LOG FOR FRIDAY - FEBRUARY 16, 2018

16 Feb 2018 09:13 am
good morning. This lower open shouldn't go far on the upside if there is a bounce or it will be setting up for another decent shakeout with all of the immediate euphoria. Straight up from the V bottom

16 Feb 2018 09:19 am
24 should hold now to get an early run up and not drop to the 21-19 area, which would do some damage to the parabolic run up the last 25 minutes yesterday

16 Feb 2018 09:22 am
looks like 28 needs taken out/held

16 Feb 2018 09:25 am
update will be a little bit after the open. As stated already bounces should have trouble holding today, top for a while either in place like it looks it might be right now, or Monday at latest

16 Feb 2018 09:31 am
needs to hold 25-24

16 Feb 2018 09:34 am
bounce failing and needs to turn up from 25 area at worst it looks to keep from a breakdown and get another push higher towards 32-34

16 Feb 2018 09:38 am
32 reached and needs to hold 28-27.50 and keep going to or through 34-35 or else the next bounce should also be sold

16 Feb 2018 09:41 am
took out yesterday's high by 2 ticks so far and looks like 30 area needs held or else no more bounces but could roll over instead

16 Feb 2018 09:44 am
31.25 held and now needs to take out the high and hold around 34 or else a double top is going to be in place

16 Feb 2018 09:45 am
Nice to go under 24 and hold to break down to or through the low rather than another rebound

16 Feb 2018 09:49 am
buyers are waiting below for any kind of pullback to buy into so look for a dip to get run up or just stay strong as long as 30 holds as that could trigger a pullback

16 Feb 2018 09:50 am
with the double/triple top now may not get bid back up so easily but 30 area is the key as unless broken there is still a shot at going back up there again

16 Feb 2018 09:53 am
only a small pullback and should take out the high soon

16 Feb 2018 09:55 am
just token higher high and needs to hold 31.50 or else another bounce should also fail

16 Feb 2018 09:58 am
backing away again and looks like there could be a bounce from 30 area but right now needs to make a higher high and with some gusto to stick or else top in place for a while at least and go back to the low area or more

16 Feb 2018 10:03 am
so far holding just above the last pullback low which was 27.25 and breaking under that should also mean another move towards 24-22 area which should be important to hold or else bigger breakdown under 19.50

16 Feb 2018 10:05 am
should be another push lower holding under 32 and take out 24-22 on the downside

16 Feb 2018 10:06 am
26 reached so far but still has pressure on holding under 28-29 area now down to 24-22 or more

16 Feb 2018 10:09 am
has to turn around and run up through 30-30.50 and then hold no lower than 28.50 after that if going to attempt the high area and not another pullback

16 Feb 2018 10:12 am
down from 31.50, should be headed towards 24-22 now that 28.15 area is being held below

16 Feb 2018 10:16 am
at the moment we have a trading range after highs at 35.50, 35.25 and 35.75 which is just over yesterday's high and 25.75-26.00 double bottom, appears 30 pivotal and must hold to avoid reversal and go to top

16 Feb 2018 10:18 am
update and about 10 minutes or so. this bounce SHOULD fail at or just under the high and then if a pullback goes back down to 32 it will need to hold or keep going to /through pivotal 30 area

16 Feb 2018 10:32 am
playing telephone tag with important phone call so my apologies, but ES broke out above yesterday's high and should hold that area now on a pullback or else 35.50 at worst or else it has grown to run up to 43-44

16 Feb 2018 10:42 am
the ES just missed the 43-44 area so far and another pop-up should be sold as that could be a top or make a topping pattern

16 Feb 2018 10:43 am
it just turned down and now will need to get back over 40 and not get turned down from there on a bounce if going to keep moving on up to or through the 43-44 area and not top out just under it

16 Feb 2018 10:52 am
with this run up topping out just under 43-44 major bounce resistance it should be a short up here for a decent pullback of some sort possible if a break back under 36-35 area

16 Feb 2018 10:59 am
stalling out a bit and needs to take out 38 and stick book that to get going on the downside on

16 Feb 2018 11:00 am
just started and that could turn out to be an important top if this goes under 36-35 area hold under that area instead of being the top of a new range at old highs

16 Feb 2018 11:11 am
made it up to the 43-44 zone as this continues to go parabolic, but trend and momentum still up and stays that way as long as 42-41 holds

16 Feb 2018 11:19 am
with all of the pullbacks being bought, another dip needs to hold around the 44-42 area now, otherwise could begin to come back down or again,. Major support the rest of the afternoon is at 36-35

16 Feb 2018 11:23 am
bounce from 43 new support that needs held or begins to get a bit top happy. must not see 36-35 the rest of the day unless the market has reversed and topped out for a while. Right now can continue strong trend up move holding 43-42 worst

16 Feb 2018 11:27 am
has been holding 43 area but level double top around 46 will need to be broken soon, otherwise the downside could get going taking out 43-42 and not bouncing right back like it has been

16 Feb 2018 11:29 am
41.50-40.50 area or higher needs to get a good bounce or else uptrend dynamics can begin to change and break steady trend up action

16 Feb 2018 11:32 am
bounce from 41 area need to go back over 44 if it and hold 44 or else pressure still on to push the little lower before a bounce

16 Feb 2018 11:35 am
getting bid up from the 41 my support so far reached 43.50 and still needs to get over 44 and stick to avoid another leg down

16 Feb 2018 11:39 am
41 held on a second small pullback and could get over 44 on this pop-up although would need to keep going up to a new high – and if so it would be sold

16 Feb 2018 11:44 am
if the ES does not keep going up through the high at 46.25 and comes back down under 44 area than it could keep coming down towards 41 area which is important to hold or else possibly 36-35 major area up here

16 Feb 2018 11:51 am
another pullback making another higher high as this keeps getting a bit more vertical on the ES, and it looks like 45.50 needs held or else began a small pullback again, or be in one

16 Feb 2018 11:53 am
yet another trend up kind of day going with a 6 and a 5 point pullback after taking out the tops at yesterday's high and now keeps going as long as the next pullback 5-6 points maximum. Can get from 48.50

16 Feb 2018 11:55 am
a 5-6 point pullback would mean coming down to 43.50-42.50 and just over the last swing low, and really shouldn't go that far for this parabolic run up to get more parabolic, should hold over 44 to do that

16 Feb 2018 12:00 pm
need to hold 46.50-46 otherwise could be a pullback of some sort, but unless it goes under 46 with momentum then it should still hold 43.50-42.50 new support

16 Feb 2018 12:02 pm
acting like a top with good selling and this one needs to hold 43.50-42.50 at worst otherwise some damage can be done to this parabolic uptrend

16 Feb 2018 12:03 pm
biggest weekly gain in 8 decades to this point, if I heard correctly. This move not to dissimilar to the one going up into the top. We'll see how today closes if it's going to be the same

16 Feb 2018 12:11 pm
another pullback but as long as 45 is holding instead of breaking and holding then the trend up move continues and another higher high in this parabolic can be made but each one getting a bit more dangerous buying around the highs for sure

16 Feb 2018 12:17 pm
must of been a V shape to bottom in 2011 also, with this being the biggest up week since then. What happened 1 week ago all but forgotten (except for those out of their mind guys betting on even LOWER on the VIX). still strong over 45.50

16 Feb 2018 12:21 pm
I will be away until around 1:15 but will update if necessary as soon as time permits. At the moment, market in buying frenzy and tentative picking a top. just should stay bullish as long as pullback no more than 5-6 points, maybe less. 44.50-43.50 m

16 Feb 2018 12:41 pm
a strong run up to the 54.75 level, and now needs to hold 50-48.50 area at worst and actually go no further than around 2753-52 if it's going to make another push to a higher high and keep going

16 Feb 2018 12:52 pm
sharpest drop so far and the start of something that could be

16 Feb 2018 12:55 pm
parabolic run up beginning to unwind could be the start of something bigger if this bounce stops and rolls over from 46.50-47.50 area at the highest it looks right

16 Feb 2018 01:18 pm
although the bounce made it back to 49.25 it was immediately turned down and now that 41.25 is broken this could keep going to or through what should be a new major area around 36.50-35.50

16 Feb 2018 01:21 pm
bigger picture reversal area if broken, held under 41.50 on any bounce after that and turned back down. They hold could give a decent bounce that but still have trouble around 41 and 44 could breakdown trend if broken/hold on small pullback again

16 Feb 2018 01:34 pm
a bigger breakdown now and base to get over 36.50-37.50 and hold on a bounce attempt or else stay in this steady downtrend off of the high. The next pullback should also get a bounce attempt

16 Feb 2018 01:39 pm
a pullback should be bought now, as this will be a reversal bar holding over 37. Would need to take out 37 and cut right down through 30.25 pullback low – 24.50 point pullback 5 points less than yesterday, at least so far

16 Feb 2018 01:45 pm
small pullback 38.25 and above the 37 support area, still needs to hold 37-36 zone otherwise could make another drop to/thru 30.50 area again

16 Feb 2018 01:56 pm
bounce was not strong enough to take out 43.50-44.50 and stick and could come back down to or through the 30 low and if so another bounce could happen but have trouble getting back above 43-44 and holding. ES should close lower today

16 Feb 2018 01:59 pm
use any kind of decent bounce to either get short with some put options or ETF or the ES, and maybe traded around with the NQ or YM if necessary. But top of some sort should be in, and if not then one more run up sets the table for a good short to ha

16 Feb 2018 02:02 pm
this run up should have trouble at the 43-44 area, if 44 is broken that a chance of going towards 48-49 but likely no higher than that

16 Feb 2018 02:04 pm
should be headed back down to the 35 area or more on this and possibly 30 if it gets momentum

16 Feb 2018 02:09 pm
the VIX went down to 17.44, short-term overly bullish extreme and has reversed and ran up to 19.36 at the moment and if it goes back under 18.80 it would be turning down (with stocks going up) but under some pressure unlless that happens. Bearish rig

16 Feb 2018 02:15 pm
stay with shorting bounces or just being short as the ES should not get back above the 43-44 area and stick again today and averages should close down for the day to day

16 Feb 2018 02:18 pm
easily took out 30 and going under 28 opens the door to test or break the low of the day

16 Feb 2018 02:20 pm
if the ES cannot bounce from around the 25-24 area or higher, and at least go back up and break 40.50 and then hold around 40 on a dip, it stays in a bearish position and prone to a failure if it cannot get over 40.50/hold

16 Feb 2018 02:25 pm
need to take out 24 area in order to reverse the whole move from the open and it's on its way and under that would be 20.50-19.50 area, must hold or else bigger breakdown after parabolic run up broken. Actually must bounce off of 26 to avoid complete

16 Feb 2018 02:27 pm
should be on its way down there if 32 area held under on a bounce attempt and comes right back down, rather than going through in which case goes another couple points most likely before pulling back again

16 Feb 2018 02:32 pm
rollover again from 33.25 and bounces should continue being sold even if a bounce attempt begins. It should not go straight line up again but could make it up to the 35.50-36.50 area and should go much further without a pullback of some sort

16 Feb 2018 02:35 pm
should be pullback from 36.50 area and pullback of some sort

16 Feb 2018 02:38 pm
37.25 bounce high so far and unless this keeps going up through 38 and can hold 36 after that a better pullback should come

16 Feb 2018 02:42 pm
backing down from 38.25 and is going to make another push higher than should hold around 34.50-33.50 at worst and get turned back up in which case could make it to or through 40.50 which important until the 43-44 area above

16 Feb 2018 02:46 pm
should keep going under 32.50-32 if going to make it back down to or through the 26-24 area

16 Feb 2018 02:49 pm
getting a bit choppy with the drop from 38.25 bouncing off of 31.25 with a little bit of gusto so a chance of going back up to 38 and possibly a little lower it coming back down. Would take out 40.50 in order to get back into neutral for the day

16 Feb 2018 02:54 pm
could be another bounce attempt from 31.75 pullback low but should go far again before being sold. Would need to get over 38 with some momentum on the way up through 40.50. Otherwise another failed bounce attempt

16 Feb 2018 03:03 pm
with this turning around at 2:25 PM from a 28.75 point drop would normally points to a low being in place and keep rallying into the close – but not if this fails to clear 43-44 on a bounce and be able to stick. Market will close lower unless that

16 Feb 2018 03:06 pm
there is a chance it can make it to the 43-44 area or higher as long as a pullback doesn't take out 37 now without turning right back up. Reversing if that happens

16 Feb 2018 03:11 pm
must keep going above 43-44 and then hold around 42 on a dip and turn up again if this is going to try making another run up into the close or thereabouts

16 Feb 2018 03:15 pm
with this backing away from 43.75 resistance, this pullback will need to turn up soon and from above 38 level at worst if going to keep the uptrend and avoid rolling over

16 Feb 2018 03:22 pm
pullback from 43.75 had a bounce but didn't stick and could begin to come back down again at this is not able to bounce from the 38-37 area

16 Feb 2018 03:27 pm
still holding 38-37 area and that gives the market a shot at 43-44 area again and this time will need to go right up through 44 with only a tiny pullback after to keep this going

16 Feb 2018 03:31 pm
another failure at the 43-44 area and the way the market has acted after unwinding its parabolic run up this should have trouble taking out 44 this afternoon unless holding off for a better drop then just 28.75 points-29.50 points like these last two

16 Feb 2018 03:33 pm
the market should stay under pressure holding under 43-44. Hopefully you are short something as that straight up run up will be unwinding some more.

16 Feb 2018 03:33 pm
have a great holiday weekend and I will update on Monday and then meet you guys here on Tuesday morning. Take care!

 

INTRADAY LOG FOR THURSDAY - FEBRUARY 15, 2018

15 Feb 2018 09:13 am
good morning. This is turning into another mini buying frenzy, and to this point acting very much like 1987 still. Anyhow huge gap up open and 17.50-18.50 needs broken/held, should be sold if reached

15 Feb 2018 09:16 am
and it looks like it should hold over 12 area in order to avoid reversal attempt

15 Feb 2018 09:20 am
13 was reached and need to get it over 15 now or could go back down there for two or through the 12 area

15 Feb 2018 09:22 am
and update a little bit after the open and then online today around 10:20-10:25 roughly

15 Feb 2018 09:34 am
17.75 high at 17.50-18.50 resistance being sold on the open and need to get over that area and hold or else continue coming down towards the 08 area or more

15 Feb 2018 09:35 am
down to the 2702 area and fill the gap if selling pressure stays on

15 Feb 2018 09:39 am
17.25 was reach an bouncing but should not stick and come back down to test or break 2707 area if this is going to at least go down and fill a gap. If 17-18 taken out, a pullback after should be bought not more than 4-5 points

15 Feb 2018 09:42 am
high area rejected but needs to go under 14 and not turn right back up in order to get something going on the downside. I will meet you online around 10:24 a little after

15 Feb 2018 09:48 am
broke through 14 and kept going to 10.75 and needs to go over 14 and hold after a tiny pullback to keep going towards the high area but have trouble holding over 16 if it is reach

15 Feb 2018 09:48 am
I will meet you online same time as yesterday

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

15 Feb 2018 12:06 pm
after dropping 19+ points from the 17.50-18.50 resistance a strong reversal came from the 88.50 level and went trend up until just now when it spiked up to 2711.25 and backed away. It is possibly making a rounding top and rollover now or after one mo

15 Feb 2018 12:12 pm
needs to make a lower low and then come down to or through 2703-2702 and either bounce or break down from that area. If a higher high, then expect another p pullback to hold 2705

15 Feb 2018 12:15 pm
no matter what happens, 2705 needs held or else come back down to or through 2703-2702. It can avoid being more than just a pullback from up here again if held

15 Feb 2018 12:17 pm
all of the averages have come up and flattened out and stalling as they have run out of steam and now pullback most hold 2705 or above for this to be just a rest before pushing higher

15 Feb 2018 12:21 pm
right now this days strong as long as 2808 holds and is not broken back down through and keep going through 2705

15 Feb 2018 01:03 pm
once again the ES has made a really nice come back from the "V" shaped bottom and so far reach 16.75 and should end up taking out the 17.75 high of the day and try for the 24 area if it's going to stay strong before backing away

15 Feb 2018 01:05 pm
any pullback now should hold at or above the 13 area, shouldn't be broken but if it is then 10.50-10.00 but doubtful the way this is acting off its low

15 Feb 2018 01:06 pm
looking for continuation of to around the 24-26 area next

15 Feb 2018 01:21 pm
there could be a high and for a while if this comes down through 17 and holds in which case the 13 area would need to hold on a further move lower or else better pullback underway

15 Feb 2018 01:38 pm
a pretty fast drop from 21 high after getting to 15.75 and going sideways before the break to the 12.25 level so far and now needs to get back over 15.75/stick in order to get uptrend back and not come down to or through 10 area

15 Feb 2018 01:58 pm
bounce off of 12.25 currently going sideways after coming up to just under the high and needs to hold 15.50 or else could come back down to or through the 13-12 area again

15 Feb 2018 01:59 pm
or should hold no lower than 16-15.50 area and bounced back if it's going to have any kind of shot at a move to the highs again

15 Feb 2018 02:08 pm
should be on its way to the 24.50-26 area

15 Feb 2018 02:11 pm
so far just a token higher high and reversal and now needs to hold 19 area and if not then 16 at the very lowest to avoid a possible pullback from the highs

15 Feb 2018 02:26 pm
should make its way up to test or break the high as long as this continues holding 19.50 area at worst

15 Feb 2018 02:28 pm
still a target at the 24.50-26 area for this move and then a small pullback at least, unless another token higher high and move under 19.50

15 Feb 2018 02:40 pm
so far 24 has been reached and just under the 24.50-26 area and this move needs to make a push through that area next and only a small pullback after to still keep a very strong uptrend

15 Feb 2018 02:44 pm
24.50 was touched and rejected but only a tiny amount and will still be strong and less 22-21.50 area broken under and not turn right back up. grinding trend up move unless broken under, even if pullback from resistance

15 Feb 2018 02:49 pm
poke up to 25.25 rejected a bit, and could come down to test the 22.25-21.50 area and should bounce back if reached otherwise 19.50 area key to hold

15 Feb 2018 02:53 pm
ES starting to flat out a bit and moving sideways/higher and needs to continue holding over 23-22 area in order to continue grinding higher and not start a pullback of some sort

15 Feb 2018 02:55 pm
just started and now that worst must hold 18.50 area or else has gone too far most likely to make a successful run back up to resistance 24.50-26.00 area

15 Feb 2018 03:01 pm
29.25 point drop and 36.75 'point rally so far,all pullbacks bought after the reversal bottom and should make another higher high and keep being bought on small pullbacks

15 Feb 2018 03:04 pm
this is a mania again and right now this will continue its strong trend up move as long as the ES doesn't go under the 21 area the rest of the afternoon. A pivotal and transition area higher, could be going to mid 30s or as far up as the 43-44 area.

15 Feb 2018 03:10 pm
pullback from 28.75 will need to bounce from around the 24.50-24 area or else a chance of it going back down to or through the 21 area which could cause some problems

15 Feb 2018 03:15 pm
a decent pullback off of the high so far and similar to the pullback from around 1:15 where there was and 8+ point drop, and as long as 21.50 holds it should avoid any trouble late in the day but if broken code to around the 19.50 area where it could

15 Feb 2018 03:22 pm
still have every pullback being bought going into the last 30 minutes of trading. We had the high of the day made in the first 10 minutes of trading, and if this continues then could see a higher made near the close. Past to hold over 21-19.50 area t

15 Feb 2018 03:28 pm
we will see how eager they are to hold long positions up here overnight, as there should be a pullback of some sort unless the market is getting frothy again and not fearful of a pullback so be long at the close to issue four traders not bullish

15 Feb 2018 03:30 pm
backing away but not breaking down at least yet. In the last 30 minutes the ES will need to either take out the highs and be able to stick – or fail and break 21-19.50 area and fail on a bounce after that

15 Feb 2018 03:31 pm
with the indicators sitting where they are right now, it would make Friday a selloff day if there is going to be one before a run up gets to or through 43-45 area

15 Feb 2018 03:33 pm
Bounces are not going to stick at the end of the day.further breakdown likely. – – have a good rest so the day! Check out tonight's update and then oh meet you here in the morning. Take care!

 

INTRADAY LOG FOR WEDNESDAY - FEBRUARY 14, 2018

14 Feb 2018 09:16 am
good morning. It looks like yesterday's rally is going to evaporate, reaching 77.50 and was at 75.25 when the numbers came out, dropped to 27.00 (48.25 points in 3 minutes)

14 Feb 2018 09:19 am
it looks like 40 needs taken out to break more to the outside and 47-48 should be important on a bounce

14 Feb 2018 09:30 am
if this cannot bounce back strongly today, but have a bad day instead, then it could be the start of retesting the panic low

14 Feb 2018 09:34 am
should keep on going up to the 67-68 area as long as 49-48 is not reach

14 Feb 2018 09:37 am
57-58 just missed and to avoid reversal back down need to hold 50-49 and not turn right back up

14 Feb 2018 09:40 am
46 needs taken out and then hold under 52 on a bounce attempt and come back down through 46-45

14 Feb 2018 09:40 am
or just keep going down towards 42 support,

14 Feb 2018 09:41 am
46 is going to be a key area to hold I will meet you online around 10:20

14 Feb 2018 09:45 am
has to go up through 57.50 without turning right back down or else still vulnerable for a pullback/drop down to or through 47-46

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

14 Feb 2018 12:03 pm
that ES had been in an uptrend since the open at 43.50-42.50 support and made it over the 61.75 close from yesterday and turned up on a pullback after that. But, beware of selling around the high area or just below

14 Feb 2018 12:05 pm
there was a topping pattern on the ES and also the Dow cash making a double top and not getting over yesterday's high more than a few seconds and backing away.

14 Feb 2018 12:10 pm
this will need to take out 77.50/stick to have a chance of going up to the high area, or keep going down through 67 in order to get further breakdown to middle of today's range or lower

14 Feb 2018 12:18 pm
another failed bounce and this is about to break down further and head towards the middle of today's range

14 Feb 2018 12:24 pm
no further breakdown in less a break under 67 and so far 68.50 held. If broken this afternoon, could go towards the 62-61 area which is as far as a pullback should go. Right around yesterday's close

14 Feb 2018 12:27 pm
if this is going to have another pullback and not go back up to test the highs then it should have trouble getting back above 76-77 without coming right back down otherwise up towards the highs

14 Feb 2018 12:35 pm
keep an eye on the Dow cash up here as it made a double top and has not spent much time above its high from yesterday. ES should hold around 74-73 and turned up if heading back up to the high area and not getting back towards 69-67

14 Feb 2018 12:37 pm
look for selling to come in either at a token higher high and if though reversal then on up to or through 84 area which should be key area today on top

14 Feb 2018 12:39 pm
I will be oh way down to around 1:20 or thereabouts but will update when necessary ASAP as soon as I am freed up. – Should be sold up here and hold 76 to avoid possible reversal

14 Feb 2018 12:48 pm
double top attempt but needs to break 75 area or else uptrend intact and could go on up through that double top and test 83-84. But must push through otherwise good short with very tight stop for a scalp at least

14 Feb 2018 01:06 pm
were up has made it the 88-89 area and very strong market getting a bit parabolic so if no backing away at nine area and then it could go a bit more but not much before a pullback

14 Feb 2018 01:08 pm
89 high so far, should be a high but if not then not much higher before a stall/pullback of some sort. Probably not enough to break uptrend

14 Feb 2018 01:10 pm
should be just a small pullback from the 89 resistance and then another higher high if this is going to keep going like it has been and not have a reversal of some sort occur. Back in a while

14 Feb 2018 01:19 pm
they did make a token higher high at 91 and then a turn right back down under 89 and a break of the 1 minute trend supports at 87 could mean a bigger pullback and that another pop-up would be sold into

14 Feb 2018 01:25 pm
was only a tiny pullback turning up that support on the one minute chart at 87.50 and another push higher that could going towards the 2702 area today. 50% retrace from all-time high to 2530.25 crash low and "V" bottom

14 Feb 2018 01:29 pm
parabolic move higher just was turned down and going on 87.50 should mean that a top is in place at least for a while

14 Feb 2018 01:39 pm
still holding 87.50 updated support after a couple pop-ups were sold, and should continue being sold unless a new high and then just a tiny pullback after – would be more parabolic at a higher high

14 Feb 2018 01:41 pm
should be a high in place now with the rejection from the 92 level and especially coming back down through 87.50 should get a bit of momentum

14 Feb 2018 01:44 pm
getting upside going again after holding over 89 area now and a new high could go several points before being reversed

14 Feb 2018 01:50 pm
a token higher high sold back down 4.75 points and holding just under 90 and needs to avoid going back under 90 and holding as that would break the current uptrend and market could roll over if that would happen. happens again if another pop-up

14 Feb 2018 01:54 pm
so hasn't taken out 87.50 however another pop-up should be sold into if there is one, as they are not sticking and giving 4-7 points pullbacks from the highs

14 Feb 2018 01:55 pm
also, a pullback after coming down from a test or token higher high should be giving another bounce unless 87.50 broken

14 Feb 2018 01:58 pm
90 will need to keep holding or else 87.50 could be broken, but grind higher losing momentum and could begin to break down soon here

14 Feb 2018 02:07 pm
another new high sold and at the moment still holding the uptrend at 91.50-90.50, and should go under that area by much without a quick upturn or else trend up move could be broken

14 Feb 2018 02:11 pm
another small pullback after the higher high, and should be pullback from another higher high

14 Feb 2018 02:15 pm
still making a token higher highs and coming back down, but pretty soon it could begin going straight up parabolic again, which would be bearish when it ends. Most hold 91.50 or else trend up move could end

14 Feb 2018 02:17 pm
best odds trade right now is to sell bounces as soon as upside stalls out or shows rejection, as a new high not likely at least for a while and if so only get sold again

14 Feb 2018 02:24 pm
the market has probably topped out for now and should be sold off harder than it has been especially if it breaks that 87.50 area without immediately turning up

14 Feb 2018 02:29 pm
88.50 pullback low so far and should go through 87.50 with bounces failing to make it back to the high and continue moving down to or through 82 area next and maybe back to or through 79.50 area

14 Feb 2018 02:34 pm
bounce from 85.75 should fail to get back above 91.50-92.50 BUT if broken with gusto then holding up there after a tiny pullback could mean testing high area although likely lower highs

14 Feb 2018 02:38 pm
should be resistance and sold around the 92 area or a little lower if coming back down again and not another run up to possibly test the high and fail again

14 Feb 2018 02:42 pm
should have made a bounce high if this is going to come back down again to test the pullback low area or at least come down halfway

14 Feb 2018 02:53 pm
drop from 93.50 down to 89 and quickly turned up, need to take out 93.50 and stick otherwise come back down to or through 89 area again

14 Feb 2018 02:58 pm
all of the pullbacks have been bought, it's just the new highs the market hasn't like temporarily, and shouldn't like it up there again, or close, and another pullback could start if a break under 92.50-91.50 at the moment

14 Feb 2018 03:01 pm
this will probably keep pushing higher into the lake trading the way it is acting. I'll pullbacks have been bought and should continue with this new highs sticking for now especially

14 Feb 2018 03:06 pm
last resistance before the 2702 area at the 98 area. So if 98 is taken out than that level could be ran up to fairl.y quickly. Just as long as the new high is not sold into

14 Feb 2018 03:08 pm
98.50 rejected, so need to have just a small pullback in order to keep pushing higher to or through 2702. Should not go back under 94-93.50 area

14 Feb 2018 03:10 pm
another new high sold, pullback needs to be small and bounce from around 96.50 area or else could be a bigger pullback and not another higher high to me sold into

14 Feb 2018 03:14 pm
getting overly bullish short-term and the move has been almost parabolic, and indicators look like they might be at or near extremes with today's "blowoff" type of internals.. But today it looks like all pullbacks still get bought unless something ha

14 Feb 2018 03:15 pm
2702-2703 target on this parabolic run up

14 Feb 2018 03:16 pm
another pullback must be small and turned back up from 96 area if there is on from up here

14 Feb 2018 03:21 pm
straight up reach 2701.50 so far and 2702-2703 should be important resistance for this bounce and will need to get above that area and stay or else vulnerable for a sizable pullback

14 Feb 2018 03:22 pm
with 2702 just missed by .50, look for one more pop-up as a good short if that area is reach and/or rejected. Could be a decent size pullback come from this

14 Feb 2018 03:24 pm
this parabolic run up could begin to unwind before the end of the day and set up tomorrow as an important day for the market with this being a possible top

14 Feb 2018 03:29 pm
so far with the ES having a small pullback down to 2695 get a boost back up to 98.75 but not sticking and going back under 95 and not turning right back up might be needed if trend up move is going to end soon

14 Feb 2018 03:34 pm
ES has rallied 58.75 points from the low this morning and what has been a trend up move starting around 12:20 PM turning up from a pullback to 68.50, may have one more run up left but beginning to look tired a chance the parabolic run up could begin

14 Feb 2018 03:40 pm
at the end of the day there is a chance for a move up to test the highs again, and must hold over 95 updated new support in order to avoid unwinding parabolic run up.

14 Feb 2018 03:41 pm
have a nice rest of the day. I will update and then meets you here in the morning. Take care!

14 Feb 2018 03:44 pm
another failure. Careful with the long side and consider shorting and a keeper overnight for what could be unwinding of parabolic run up today

 

INTRADAY LOG FOR TUESDAY - FEBRUARY 13, 2018

13 Feb 2018 09:11 am
Good morning. This is what I was kind of expecting after yesterday's toppy action bounces should not be able to stick. With this volatility getting the support and resistance not as easy, should be soon though.

13 Feb 2018 09:13 am
we have a live session this morning so I will update if there is much more movement before the open, and then a little bit after the open before we meet around 10:20-10:25 hopefully

13 Feb 2018 09:20 am
I don't know if anyone went short yesterday and held overnight but if you did take half off at the open and stopped at 55.25 for now and turned it on other half at 30, just above 28.50-27.50 support if it goes that far

13 Feb 2018 09:21 am
it can if we get a little bit of panic from the "all is okay now, back up to the highs" thinking starting to purvey

13 Feb 2018 09:26 am
would need to make a double bottom and run up over 43 and hold 42 after that to get anything going on the upside

13 Feb 2018 09:33 am
good bid coming in at 36.25 Globex low and will need to hold the rest of the morning in order to avoid bigger pullback down towards 28-27. Needs to get over 46.50 and only a small pullback and turned up again to get to around yesterday's 54.50 close

13 Feb 2018 09:35 am
bounced to the 45-46 prior initial support and turned down and has to get above that and hold or else market remains in trouble

13 Feb 2018 09:36 am
bounces should still be sold as long as the ES doesn't take out the high was some gusto and then hold on a small pullback and turn up again, making a reversal to the upside that way

13 Feb 2018 09:37 am
if that happens, look for 50.50 and then 54.50 as targets and potential reversal areas

13 Feb 2018 09:40 am
tops at 45-46 area,should not go back down to 40.50 and not get turned up if going to work higher before another and probably bigger pullback begins

13 Feb 2018 09:42 am
42 little pullback low needs held now or else the next bounce will be sold for a pullback of some sort. I will meet you online around 10:20 or just a little after.

13 Feb 2018 09:52 am
if there is a higher low and 47 is taken out then a low could be in place,

13 Feb 2018 09:57 am
short under 45-46

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

13 Feb 2018 12:01 pm
two-sided action holding at 42.50 but topping at 52.75-51.75 and just now 50.75 and in order to go back up towards yesterday's 54.75 close that ES did not go back under 47.50 again before getting up there

13 Feb 2018 12:06 pm
sold yet again, and slightly higher and 1 slightly lower high were sold earlier on the way up and this would be the second lower high by holding under 51.75 and coming down through 47.50 would open the door for it to go towards 42.50 low end of the r

13 Feb 2018 12:12 pm
at the moment the ES needs to continue holding 47.50-47 if it's going to be able to make a higher high on this move and not another lower high and failure immediately

13 Feb 2018 12:14 pm
likely won't be very long over 52.75 if broken, come down right away from 54.50-55, not go right up through 57-58

13 Feb 2018 12:21 pm
another failure in this range bound market and now a triple top between 51.75-52.75, and unless broken and then held after that on a small pullback this could retreat towards the bottom of the most of the move down at 42.50. Has to keep going through

13 Feb 2018 12:30 pm
I will be away until around 1:15 roughly but will update is it is necessary ASAP when I am freed up. At the moment under pressure and it's a short below the triple tops.

13 Feb 2018 12:40 pm
Covered half of the short position from around 64-66 at the 41 open and will need to take out 42.50 to get more breakdown some time here early afternoon. if so then 40-39 and then 34 then 28-27

13 Feb 2018 01:16 pm
the ES had been holding around the 45-44 area on the downside and just shot up off of 47.50 and now should hold at or above that level the rest of the day in order to get through the highs and try for 54.75 area before backing away or making higher h

13 Feb 2018 01:25 pm
that ES easily took out 54.75 and if it doesn't get turned down from either 60 or 64 it might have a shot at the 72 area on this move, must not have much that a couple of points pullback

13 Feb 2018 01:31 pm
with this backing away from 60.75 it going to need to turned up from 57-56 at worst otherwise current uptrend breaks and bigger pullback underway before another bounce

13 Feb 2018 01:39 pm
so should be heading up to the 71-72 area or higher for a target on this trade if it can push through the 63-64 area and only a small pullback after turns up

13 Feb 2018 01:42 pm
and 63.50 and another tick extreme is going to cause a pause/pullbackthat must hold over 60 and if not must hold 57 and is broken could come back towards 53 area instead

13 Feb 2018 01:48 pm
so far a more tame market today with just a 29 point range and backing off a small amount so far from 63.50 and just under 64 resistance and should not go back under 60 area without turning right back up or a pullback/sell off of some sort underway

13 Feb 2018 01:55 pm
turned up from 59.75 and needs to go through the high with some gusto otherwise breakdown through 60-59 starting a pullback of some sort

13 Feb 2018 02:01 pm
we are now out of the swing trade with about 25-27 points on half and about 10-12 on the other half. Tempting to reenter up here under 72, however market still not acting all that bad, would need another rejection of the high area and/or break under

13 Feb 2018 02:06 pm
holding around the 60 area keeping this out of trouble but a break under 60 not turn right back up again could be the start of something on the downside. Could still attempt 71-72 if not broken although starting to look tired up here

13 Feb 2018 02:13 pm
making its move up to test the 71-72 area and will avoid any kind of reversal as long as a pullback holds around the 63-62 area at worst on a pullback now and going under 59 mean a top likely in

13 Feb 2018 02:17 pm
66.50 is an important area with it being the low of the high bar on 5 minute chart when ES went to 71.50 yesterday, and needs to push through 67 otherwise going back under 63 could be the start of some topping action

13 Feb 2018 02:21 pm
if there happens to be a pop up from around 63-62 and set of breakdown, it still should have trouble holding if it makes a higher high, as those have been sold all day long

13 Feb 2018 02:25 pm
getting top-heavy with Bob bounced to a lower high being sold and another pop-up should also be sold into at or below the high of the day

13 Feb 2018 02:26 pm
if there's going to be one more bounce attempt at will need to come from the 62 pullback low so far and not go much below that or else began to break down a bit more

13 Feb 2018 02:30 pm
another little bounce attempt sold into and should continue as long as there is not a move above 66 that can hold 64 and turn up afterwards. A move under 60-59 area turns everything down from this high

13 Feb 2018 02:33 pm
any kind of bounce from down here will be sold into and there should be good resistance around the 62 area now that needs taken out or else pressure stays on to keep going down to slice through 58 area or more

13 Feb 2018 02:39 pm
bounce off of 59 support stopped at the 61.75 level so far and needs to go over 62 and stayed over that level if going to attempt any kind of turn around and avoid possible breakdown through 59-58

13 Feb 2018 02:40 pm
pressure will continue to be on the downside as long as it's under 62 and minor support at 57 and then more important around the 53-51 zone if reached

13 Feb 2018 02:51 pm
ES trying to get its footing and turning up at 57.50 with some gusto but still needs to get back over 62 and then be able to hold around that level after breaking it for any chance of getting back to the high areas

13 Feb 2018 02:56 pm
bounce from 67.50 took out 62 and now should go much below that level if the ES is going to try getting back up to its high area or more and not come back down to or through 57.50 and now 57.50-56.50 important or else retest 53-52, but that would be

13 Feb 2018 03:00 pm
pullback turned up at 61.75 and headed back towards the high, but beware of a potential double top, or if a lower high is reversed . Anyhow avoids late breakdown unless 57 area broken

13 Feb 2018 03:07 pm
choppy and top-heavy but so as long as bounces make lower highs odds grow that that ES comes down and takes out 57.50 and a potential breakdown if so

13 Feb 2018 03:13 pm
bounces not able to stick again in the afternoon, will need to hold 57.50 area and get back above at least 62 area and hold or else there could be a late day pullback instead of a run up like there normally would be on a day like this

13 Feb 2018 03:17 pm
appears that as long as 61 area holds that the ES has a shot at a new high

13 Feb 2018 03:21 pm
would need to be a break back under 61 that is not turn right back up or somethingto get going on the downside and if so then a move that down to or through 59 or more can happen

13 Feb 2018 03:29 pm
still holding 61 at the moment and on that last dip, that ES is going to stay out of trouble and maybe try for 66.50 high of the day but if 61 broken then late day pullback possible

13 Feb 2018 03:33 pm
in the last 30 minutes the ES will need to hold over the 61 area and take out 65.50-66.50 and then be able to stay up there, not come right back down like it has all day

13 Feb 2018 03:36 pm
in a case that 61 is taken out, which doesn't look likely, then 57.50-57 important to hold to avoid a reversal. wouldn't count on that happening

13 Feb 2018 03:42 pm
another slightly higher high sold but should hold above 64-63 to avoid potential late breakdown. – have a a great rest of your day. I'll update in the evening and then catch you tomorrow morning. Take care!

 

INTRADAY LOG FOR MONDAY - FEBRUARY 12, 2018

12 Feb 2018 09:09 am
good morning. That ES is coming down to around Friday's high and should go lower before a good bounce attempt

12 Feb 2018 09:15 am
before closing on Friday the ES came down 27.75 points in 7 minutes, and 21.50 point move in 5 minutes around 2:25, so volatility is going to stay with us

12 Feb 2018 09:17 am
lots of movement pretty open and it looks like spiked down to 26.75 needs to be a low

12 Feb 2018 09:20 am
NOTE: unfortunately I need to the away from a little after 10 AM until around 11 AM this morning. apologies. it just came up Friday

12 Feb 2018 09:29 am
major area up around the 48-50 area today to go through and hold. 54 and 58 minor. Downside,if that 28.75 low is broken and then 24.50-23.50 and then Friday close at 19 area then big area down at 10 area.

12 Feb 2018 09:34 am
key area where a reversal could come from around 50 or a little bit above

12 Feb 2018 09:36 am
should be a top in place for a while and if not then another pop-up will be sold

12 Feb 2018 09:39 am
actually need to go back under 39 and then hold under 45 area afterwards in order to break down, but still should have trouble holding over 50 very long

12 Feb 2018 09:44 am
good bids on the dipsall the way back up and has to go back under 50 and stay under 51 on a bounce attempt otherwise 54 and then 58 before the 62-63 area which is important resistance on this early run up especially

12 Feb 2018 09:45 am
downturn from 54.25 so far and needs to go under 47 at a minimum or else uptrend still intact

12 Feb 2018 09:49 am
reversal from tiny double top and should be a high but if not then not much higher and come down through 45 and could keep going if not able to bounce back above 50 and stick

12 Feb 2018 09:54 am
almost back to the open and the gap fill level as 37.75 and should break that if going down and topping for the morning

12 Feb 2018 09:55 am
would need to go back over 44 now and be able to hold up there after getting through that area with gusto, otherwise keep going to 34 and maybe back is 28 area again

12 Feb 2018 09:58 am
bounce failed and 37.75 low and that area will need to hold low or else there could be a break back down to or through 28.50.

12 Feb 2018 09:59 am
I need to be away until around 11 AM roughly, and will update ASAP. Top in place and could be one of those 30-40 point moves before a reversal attempt.

12 Feb 2018 10:51 am
that ES came down 34.25 points to 1 point over Friday's close and 37.50-38.50 needs taken out and held or else could go back to test or break 30-28 area

12 Feb 2018 11:02 am
another rejection of the 37.25 level and another top four decent pullback this time if not broken

12 Feb 2018 11:04 am
need to push through 37.50-38.50 and then bounce after another small pullback in order to make a run up towards the highs and not back down to test the low area

12 Feb 2018 11:08 am
poke over 38.50 and turned right back down so needs to hold around 28 at worst or could go back down towards 31 or lower

12 Feb 2018 11:12 am
pop-ups are being sold into and should keep coming down to or through 31-30 in order to get a breakdown of some sort from this sideways action

12 Feb 2018 11:14 am
needs to make a higher high than 39.25 and then hold 31.75 and turn up on a pullback for the higher high and higher low pattern to continue, but new high not likely stick very long if made

12 Feb 2018 11:15 am
has to come back under 38.50 prior highs area and not get started right back up otherwise good try for the 47.75 area where selling came in pretty hard

12 Feb 2018 11:18 am
look for another higher high above 41.75 to also reverse if it is reach and then either stalls or immediately gets turned back down the way this is going, and then up after decent dip

12 Feb 2018 11:31 am
a higher high at 42.25 sold down to 37.50, and unless 42.50-43 area broken and not turn right back up from 40 or higher, should come down quite a ways from this high

12 Feb 2018 11:32 am
37-36 area and then 34-33 must hold or bigger top in place with bounces failing

12 Feb 2018 11:38 am
34.50 pullback low holding just over 34-33 and bouncing back towards the top were selling should come in again and leave a double top of sorts up here, otherwise a move over 54.50 and hold 52 and turned up to keep run up to 47.50-48.50 possible

12 Feb 2018 11:45 am
made it to 44.75 and needs a bounce from 41-40 at worst or for any chance at a higher high for the 47-48, else keep going down to or through 38 new key area breaking under 40 and not bouncing with this up,

12 Feb 2018 11:55 am
only a 45.25 points highs so far and held 41 pullback with all pullbacks being bought so far on the way to 48 area or more before pullback

12 Feb 2018 11:56 am
steady grind higher has ES and and up sloping channel of sorts and will need to continue holding 40 especially now that 48.50 has been blown through

12 Feb 2018 11:59 am
high at 54.25 area should be hard to reach and be taken out,at least on the first attempt and the 48-46 area is new support that must hold up here if not going to fail at a little higher and double top around 53-54

12 Feb 2018 12:01 pm
52.25 bounce high so far and now 46 should not be reached or else it could be too far and then bounces failed with a double top in place. Would need a bounce from 48 if a chance at test of the high for a token higher high

12 Feb 2018 12:06 pm
123 type tops at the moment and should test or break the 48 prior high area at least if this is going to be an important top for a while anyhow

12 Feb 2018 12:09 pm
bounce off of 48.25 back up to the high and now it is going to take a break back under 48-47 that doesn't turn up with gusto otherwise good take out 54 area on the way to 58 and area up around 62-63

12 Feb 2018 12:14 pm
48 must continue holding now or else uptrend breaking and a pullback of some sort would already be underway. A move over 54.25 that does not get turned right back down through 52 or more might be able to keep going up to 58 and possibly 63 area.right

12 Feb 2018 12:21 pm
so far 60.75 high of the day and falling shy of the 62-63 area which was a turning point intraday back on Thursday, also coincides with 38% retrace and should be hard to take out on this bounce

12 Feb 2018 12:23 pm
should be a high in place if not a turn from 55.50-54.50 area it looks, has to make one more push higher from their or not make 62-63 but could breakdown instead

12 Feb 2018 12:25 pm
I am going to be away until around 1:20 but will update if possible ASAP. At the moment still in a trend up move off below as long as 55.50 holds but beware of 62-63 if a lower high is it made, and gets through 60.75 high area and turns down instead

12 Feb 2018 12:31 pm
should be a top in for a while with this tiny 123 top and breaking 55.50

12 Feb 2018 12:49 pm
it is looking like the poke over 60, which stopped under 63 important resistance, is going to be an important top short-term and especially taking out 48.50-47.50 on pullback which currently is important support

12 Feb 2018 01:08 pm
with this getting topping action after a 130+ points move it is a swing trade short under the high of the day with a stop at 61 at the moment as a top should be in place, especially breaking under the 50 area again

12 Feb 2018 01:14 pm
so not to get stopped out consider buying March SPY put options. But not "out of the money" options as premium will shrink as the VIX drops. Would need to be at or in the money options, then could protect by trading ES if necessary. Just bounce from

12 Feb 2018 01:18 pm
another build bounce attempt under 58 previous bounce high and probably takes that out as long as this pullback holds 52.50 area right now

12 Feb 2018 01:20 pm
breakdown should occur

12 Feb 2018 01:22 pm
all bounces failing now and being short the bounces under the last high a good entry and should take out 51-50 area and if so then hold under 51-52 area after that. Has been holding, but bounces not sticking so breakdown eventually especially holding

12 Feb 2018 01:25 pm
took out 54, cannot be another failure and keep going through 58 in order to have the 51-50 turn into new key support and pullbacks holding again if not sold soon

12 Feb 2018 01:33 pm
the ES has been going sideways between 58 on top and 50 on the bottom and trading just under the middle of that range around 54, and is 53 holds and 55 is taken out then a move higher from there is possible.

12 Feb 2018 01:34 pm
opposite if a move up to 55.50-56 is turned down and takes out 53 could get something going on the downside

12 Feb 2018 01:37 pm
backing down from 55.75 at the moment and just under 56 should keep some pressure on, as that needs taken out at a minimum for upside to get going

12 Feb 2018 01:39 pm
still needs to come down through 50 area without bounce right back up again in order to break the bottom side of this sideways range that the ES has been trading in

12 Feb 2018 01:43 pm
still should be short under the high of the day for a swing trade which could be worth 10+ points from up in this area, but about a 5 point loss if wrong

12 Feb 2018 01:50 pm
could be going back up over 58.50 and if that happens without getting turn right back down then a shot at the 62-63 area or more so cut out shorts for now, needs to take out 54 change at least right now

12 Feb 2018 01:52 pm
should keep going on up to the high area around 60.75 and if no kind of reversal up to the 62-63 area should be a target and a spot where a pullback could come from

12 Feb 2018 01:58 pm
straight up with very tiny dips up to the 64.75 level so far and needs to hold 62 in order to avoid some pullback and keep going up to around 67-68 and then minor area around 72-73 after that

12 Feb 2018 02:01 pm
63-62 now current important support and after backing away from 67-68 updated resistance it should be a key area or else keep coming back towards 58.50-57.50 possible. Should see token higher high sold if just a pop up lasting about 1 minute and quic

12 Feb 2018 02:05 pm
has come back down to easily so far and would need to hold 61-60 at worst and run up above 64 at a minimum in order to get back to the high area which would be sold if reached. If broken, then 58 area needs held at worst

12 Feb 2018 02:08 pm
one more run up as there should be that retest of last week's low and what turns out to be a "V" just like 1987, and go down and get close but not all the way back down there at 2530. Should keep selling off here – bearish under 63 area

12 Feb 2018 02:12 pm
if there happens to be a move back down to the 54.75 area, it would need to be held above or else take out 50 area, and a reversal if that happens. Bouncing from 58 prior high of range and bouncing, still bearish under 62-63

12 Feb 2018 02:15 pm
going to keep on grinding lower holding under 60 area now

12 Feb 2018 02:21 pm
so far pullback holding at 55.50 and just over the 54.75 level where the ES took off higher from at 1:50 PM, not much of a bounce so far and still needs to hold 55.50-54.75 and run up over 62-63 on this move, or else should come back down to that are

12 Feb 2018 02:24 pm
breaking and holding over 62-63 needed on this move or else come back down to or through 55.50-54.75 area possibly, at least a small pullback

12 Feb 2018 02:25 pm
good bounce resistance with this coming down from 62.50 and going back down under 59-58 could mean further breakdown to or through 54.75

12 Feb 2018 02:28 pm
eager sellers just above, bounce should be hard to hold or go very far very fast at least before another pullback from their its high but likely lower

12 Feb 2018 02:31 pm
67-68 updated resistance held this down the last time and it's heading for those highs where either a double top is made or else break through and attempt 72-73 area but not stick. 67-68 could be hard to get through/hold first unless broken with good

12 Feb 2018 02:32 pm
getting top-heavy and a bounce high either in place or will be sold into one more pop-up to the 67-68 area

12 Feb 2018 02:36 pm
pop up immediately sold as orders were already in at 66.50 and just under the resistance at 67-68, but not much of a pullback yet and needs to at least break back under 62.50-62 in order to put any pressure on downside

12 Feb 2018 02:39 pm
quickly backing away again from resistance and stays a short at that area or under if going to get a pullback to or through 63-62 if it's going to roll over from up here

12 Feb 2018 02:41 pm
probably should wait for a break of the current uptrend

12 Feb 2018 02:45 pm
68 sold, a move back under 63-62 puts in fail in this and a top that shorts should be in now under that zone – should not be broken through and held today even though basically trend up so far

12 Feb 2018 02:48 pm
67.50 and 68 tops at the updated resistance and now a pullback could go for the 55.50-54.75 area to breakdown, but 1 more run up possible only if 61 holds and 64.50 broken

12 Feb 2018 02:48 pm
which didn't happen and now 55.50-54.75 next target/support area and potential breakdown area

12 Feb 2018 02:50 pm
normally there should be buyers come in just above 55.50 area if it's going to have another run up, maybe not this time though with tops in place

12 Feb 2018 02:51 pm
March SPY put options that are at or in the money, not out of the money as they would lose a lot of premium if the VIX drops more

12 Feb 2018 02:53 pm
55.50 pullback low so far, I don't think the market has that energy to go up and break those highs and bounces should fail and break new this support at 55.50-54.75 area

12 Feb 2018 02:53 pm
pressure still on holding under 58 area now

12 Feb 2018 02:56 pm
58 and especially 62-63 should be hard to get through and hold if this is just a bounce that's going to fail,otherwise another run up to 67-68 and maybe even 72

12 Feb 2018 02:59 pm
62 area being rejected a bitand taking out 59 should mean going back to or through 55.50

12 Feb 2018 03:09 pm
that ES is trying to get back to its high again at the 67-68 updated resistance and hold over the 55.50 double bottom, and to keep nudging higher than cannott go back under 62 area without popping right back up again

12 Feb 2018 03:11 pm
on the way down to at least test the 60.50 area or just above and will need to have a good bounce back otherwise keep on pushing lower to test or break through 55 a third time down there

12 Feb 2018 03:13 pm
61.25 pullback low turned right back up, and this can keep nudging higher unless 61 broken and not turn right back up again. Looking like any kind of pullback can be bought now

12 Feb 2018 03:14 pm
72 has a shot on this move if 57-56 can hold

12 Feb 2018 03:17 pm
token higher high sold at 70 and a decent scalp short as this comes back down to 66.50 so far where a bounce should begin to get another token higher high which will also be a short for a scalp trade at a minimum

12 Feb 2018 03:21 pm
34.25 point drop and a 50 point rally so far today and this could keep on going into the very late trading only as long as the ES does not go back under 66 area and not get turned right back up from there

12 Feb 2018 03:24 pm
72 just list by 2 ticks so far. this should keep getting bid back up on dips and keep running into tomorrow morning the way it's looking at the moment. Needs to not go back under 67-66 area and then hold under 67 afterwards

12 Feb 2018 03:28 pm
should be a high athletics now in any kind of bounce from here should be sold as only a token higher high would be made and come back down again. A move that goes back under 61 at the end of the day leaves this in a bearish position to be sold tomorr

12 Feb 2018 03:31 pm
trying to turn back up at 64.50, can bid it up to another run up but just set up a shorting opportunity as soon as there is a stall and downturn or spike up that gets quickly rejected

12 Feb 2018 03:32 pm
that is probably it for the bounce as they should fail from here on out and if the ES doesn't hold 62 area it has a chance of coming down further towards the 55.50 double lows, looking bad if that happens.

12 Feb 2018 03:34 pm
the Dow cash is also tiring out and rolling over from up here and that won't help the ES. not an ideal place for a swing trade on the short side here, early tomorrow if there is some strength. Today's high could be an important one going by 1987 kind

12 Feb 2018 03:36 pm
consider holding something short. Could be big opening tomorrow. have a great rest of the day! Update this evening and then I'll meet you here in the morning. We will have a live session tomorrow most likely. Take care!

 

INTRADAY LOG FOR FRIDAY - FEBRUARY 9, 2018

09 Feb 2018 09:08 am
Good morning. No follow-through selling and because we are in an emotion driven market some areas zones may not be so important, and needs to trade the price action. That said

09 Feb 2018 09:09 am
still looks like getting over 12.50-15 area needs taken out and hold 12 in order to avoid early pullback

09 Feb 2018 09:19 am
so far the ES stalled and pulled back from the 12 level and as stated needs to take out that area or else early pullback in will need to hold around 2698-96 in order to get a bounce some sort

09 Feb 2018 09:29 am
update 5-10 minutes

09 Feb 2018 09:31 am
needs to keep coming down through the 2603-2602 area otherwise a shot at going over 12 but might turned down from 15 top of that zone

09 Feb 2018 09:36 am
should be a top for a while as 15 was fairly poked over and turned right back down and has to be able to hold the 12 area after getting up there

09 Feb 2018 09:38 am
should keep going down to 98 area at least

09 Feb 2018 09:44 am
97 broken and 94.50 need held/ take out 08 then 12 b hold

09 Feb 2018 09:49 am
voice software acting up need 10-15 min. 04-03 pivotal area

09 Feb 2018 09:58 am
I'm doing this from my main computer, which I'm not crazy about, but in any case the ES held at 2603.75 pivotal area and popped back up, and 18.50 could be a top if this comes down through 2008 area and not turn right back up

09 Feb 2018 10:01 am
Bounces are going to continue failing so a other pop-up should set up a shorting opportunity as this should have trouble holding gains

09 Feb 2018 10:04 am
Feeble bounce sold and a high should be in place for a move back to bore through 2603 and possibly back towards 98 area

09 Feb 2018 10:07 am
Steady drop and could go down to bore through 95-93 area which must hold or else bigger breakdown

09 Feb 2018 10:10 am
Bounce from 97.50 keeping this from a breakdown at least at the moment and looks like it needs to get back over 08 and then hold 07 after that if going to try getting back towards 12 and not get turned right back down from that area

09 Feb 2018 10:15 am
As long as this is holding under the 2607 area pressure should be on to test or break the low

09 Feb 2018 10:21 am
It's not getting above 07 area but it's also holding the 97 area need to take out 2607.50 area or break down through 97 – might need to go under 2101 for a breakdown to have

09 Feb 2018 10:26 am
ES could not get over 2606 and rolled over to 98.75 and pop-up again to the 2606 area and should go through on this move and had up towards 13-14

09 Feb 2018 10:31 am
But up to 2608.25 and turned right back down and back to the 97 area again on the downside and it's the Dow helping keeping ES down, this bounce is a short

09 Feb 2018 10:31 am
As soon as upside stalls or there is instant reversal after a peak on 1 minute chart

09 Feb 2018 10:33 am
Either that or be a buyer on a move to the have to come down through 97.50 or else could bounce back up again while in this range

09 Feb 2018 10:36 am
Has to run-up over 2808 now, and then hold 2606-2604 after that if going to try getting a move higher going, but holding under 2606 keeps door open to test/break 97-94.50

09 Feb 2018 10:38 am
Bounces should continue failing as long as a hold under 2602.50-2604 area

09 Feb 2018 10:39 am
94.50 reached but still should keep going lower as long as a hold under 2600-2601.50 at most and test or break 88 area next

09 Feb 2018 10:44 am
88 target/support was reached and unless the ES gets over 92-93 it should have bounce resistance and come back down to a lower low and if 87 broken could be another 10 points or more

09 Feb 2018 10:47 am
Still headed through 77 holding under 84 area now at most

09 Feb 2018 10:48 am
Would be support around 68 space or lower area if it doesn't get turned around with some gusto above 78 area now

09 Feb 2018 10:52 am
68 or lower target was Matt and attempting a bounce off of 66.25 and needs to be a good one back over the 84.50 area

09 Feb 2018 10:57 am
Strong run-up from new low for the week and now with a 28 point bounce, should be some pole back but to stay strong hold 87-86 area or else keep coming down to bore through at least 82 area.

09 Feb 2018 10:59 am
That will probably need to be a low or the day and get back above 94.25 early low and especially 97 or bigger pullback could happen taking out 86 area

09 Feb 2018 11:03 am
Went under 86 down to just 83 and turned up and still needs to make a move over 94.25 early low and especially 97 which acted as support and now "last trapped" and hold a small pullback after that

09 Feb 2018 11:21 am
Having trouble with voice software on both computers, my apologize and will work on it over lunch or before then and skip part of my lunch break if it acts up one more time. Anyhow, bounces should still fail unless 96-98 major area coming into the we

09 Feb 2018 11:26 am
A small bounce to a 87.75 resistance sold back down to the 77.50 level again and should keep going under 75 before a decent rebound can occur with a chance of holding. Cannot go much lower or else down to low area or more

09 Feb 2018 11:29 am
Should be a bounce high being put in for a pullback of some sort

09 Feb 2018 11:31 am
Still topping out but needs to break the 77 level or else make another push higher from here

09 Feb 2018 11:39 am
Starting to back away from 92 area and would need to at least take out 85.50 in order to be far enough to break current uptrend on the that it could go back to around the 78-77 area or more

09 Feb 2018 11:41 am
92 looks like a top that's important to get above now or else the door stays open for another test of the 78-77 area and needs to hold above that

09 Feb 2018 11:49 am
The ES trying to hold 80 but should keep pushing down through to or through 77-76 area on this move

09 Feb 2018 11:56 am
Attempting to hold 73.25 and needs to build up over 81.25 maximum or else keeps pushing down to test or break the low

09 Feb 2018 11:59 am
Pop-up sold into and still had it down to around the 68-66 area and possibly lower -- Having trouble with voice software on both computers and need to do the update in notepad then copy and paste into my update window before pressing the send button

09 Feb 2018 11:59 am
Updates will be given with zones that could be as much as around 14 points h backspace as trend support, and not as many as a are going to be a little later to act on then they can be already

09 Feb 2018 12:02 pm
made it to the 68-66 area and could still break that in less there is a move back over 72 and then holds at or over 70 after that

09 Feb 2018 12:04 pm
Anyhow, target met on that trade and would still sell bounces and use next support as target areas and could be a drop as far as 54.58-52 which is a major area +/- a couple points on the chart bigger picture

09 Feb 2018 12:08 pm
We have a >10% correction from all-time highs already, and it like 1987 and it gets really ugly then a 24%-27% correction not impossible. Keep shorting and right now the 9/18 EMA on 1 minute chart on downtrend resistance until broken

09 Feb 2018 12:10 pm
54.50-52 area has been reached and needs to be a good bounce from here or just below otherwise could collapse further and minor around 48 but 44-42 next major area

09 Feb 2018 12:12 pm
51.25 reached so both targets on downside were met and now a decent bounce attempt off of the low could mean a bottom for a bit but right now at the middle of 9 and 18 EMA's on 1 minute chart and need to break over 60.50 otherwise another pullback

09 Feb 2018 12:15 pm
I am going to need to be away until around 1:15, and have some stuff to do on this computer so out update if possible however market is a short on all bounce attempts unless at or below 9/18 on 1 minute chart. Back over 72 just to be neutral

09 Feb 2018 01:20 pm
bounce from a test of the low but can go back down if 53-54 not broken soon

09 Feb 2018 01:23 pm
turned down from 53.50 and should make another lower level

09 Feb 2018 01:27 pm
at the moment both the ES and the Dow are tracing out similar patterns, both bearish, with a stairstep kind of move on the downside and lower lows/lower highs being made. need over at least 53.50 and especially 65.50-67.50 zone. Next could be going d

09 Feb 2018 01:32 pm
I have 2538 for the 200 day moving average on the S&P 500 cash (don't remember if a simple or exponential MA) but just for each 2539.56 and very close. But, so should go through that level at least and keep the downside going especially holding under

09 Feb 2018 01:34 pm
with the pop up top still that 46.50 pressure still stays on unless can bounce from test or token lower low back above 46.50 with gusto. Keep going lower otherwise under 46.50 at highest

09 Feb 2018 01:37 pm
can just keep on going towards the 26-24 area next, maybe a little bit above on the first push lower under these lows

09 Feb 2018 01:39 pm
made it to 30.25 so far, market has tremendous downside momentum and a very strong downtrend, so stay with this straight line drop until there is a reversal that breaks prior swing high

09 Feb 2018 01:41 pm
update and about 10 minutes or so since I had to skip a good part of my lunch break. Looks like we could have a low and for the next 10 minutes. They have lasted only 5-10 minutes before a pullback of some sort since coming off of early high

09 Feb 2018 01:57 pm
one of the better bounces so far today, the best a 31.75 point bounce and the other from 27 points 50 points that came from 38.50 low, and now before finishing just took out Vegas bounce and 65.50-67.50 – should pullback soon but hold 60-59 keeping

09 Feb 2018 02:00 pm
stopped and stalled 1 minute and then rolled over which has been happening on these moves for good entries for at least decent size scouts and this will need to bounce from 56-55 at worst otherwise too far and won't bounce back to the high of this mo

09 Feb 2018 02:04 pm
13 point pullback in 3 minutes and right back up to the 70 pounds high and getting back up above 92 and especially 98 on this move and close up there today a good possibility, but if it does then the lead "V" bottom in place. A pullback towards that

09 Feb 2018 02:12 pm
there was also that 200 day moving average down there at 2438 on the cash index. now way down there. Expect any kind of pullbacks holding the 9/18 EMA (all the way up starting at 11:45) to be bought to eat uptrend going

09 Feb 2018 02:13 pm
on the 1 minute chart, currently needs to hold and bounce from around 76 area that lowest or it could be breaking bottom line

09 Feb 2018 02:15 pm
the ES didn't back away from the 92-93 area, prior resistance and minor breakout a long time back, and next would be the 97-98 areaif no failure here

09 Feb 2018 02:24 pm
200 day moving average must have been being watch by nearly everyone, although the futures went down to 30 area, it was 2538.10 for the 200 DMA and the cash below that 2538.69. Should be an important low, "V" bottom, uptrend intact as long as holding

09 Feb 2018 02:28 pm
this pullback will need to bounce from 93.50 area it looks at the moment otherwise could begin to get a bit Toppy and pulled back some before another bounce attempt

09 Feb 2018 02:31 pm
79 point run up in about 50+ minutes, now that uptrend broken could come down towards prior pullback support area at 82-80 area and should bounce from there at worst or else could keep coming down to or through 72-70

09 Feb 2018 02:35 pm
82.50 is going to be important support area now, or else would need to hold 78 just below to avoid drop of back towards 72-68 area which would be major as to closing strong or weak if reached. Probably should not get back down there, at least yet

09 Feb 2018 02:39 pm
bounce from 78.789 needs to keep going above 93 and hold 92 after that if .2 test the high. Otherwise with a deeper drop today it's going to be that "V" bottom that is tested for held

09 Feb 2018 02:45 pm
they are needing to get rid of a couple of the VIX instruments I trade, and really sucks because one is for the VIX coming down which it's going to pretty sizable at some point. Now this pullback will need to hold above 78.75 prior low and turn up to

09 Feb 2018 02:52 pm
sideways action not necessarily encouraging as they have been rolling over after action like this, however if this gets a another push up through 96 it can keep going back up to test or make a lower high around 2609.25 pounds high on this move

09 Feb 2018 02:55 pm
stalling out and the pop up didn't stick like prior pop-ups and a chance for a breakdown of some sort is it those much lower under 87.50 area it looks or else could get going

09 Feb 2018 03:00 pm
coming down through 79 again could keep going another 10 points to the midpoint of this rebound and if 70 area doesn't hold in a shot at going to around the 58-57 area where good buying came in earlier

09 Feb 2018 03:03 pm
all of these little bounces are being sold and took out 79 area and should test the 70 area on thisand has to hold their or oh 57 would be major area to hold at this is going to make a "rising W" kind of pattern instead of a potential "V" bottom

09 Feb 2018 03:09 pm
last hour selling should be under way and down to 72-70 will need to hold or else keep going down to or through 67 area and possibly keep going to test the 58-57 major area under that

09 Feb 2018 03:13 pm
67 taken out barely so far and needs to get a run up going with some gusto if 67 area points to hold as a pullback low

09 Feb 2018 03:18 pm
should continue to nudge higher if it can hold 81 area and does not go back down through there and take out 66.50 pullback low

09 Feb 2018 03:27 pm
has a chance to finish bullish instead of looking bearish if that ES was able to get over 2600 and hold above that area at the end of the day. Doesn't mean everything is over on the downside, but began to rebuild on the upside

09 Feb 2018 03:28 pm
pullback holding at 85 keeping this in an uptrend and still a chance of pushing over 2799-2600 on this move and if so and it sticks could get momentum

09 Feb 2018 03:30 pm
good selling into the bounce attempt and immediately backing away at 98.75 and just under the 2599-2600, it's got to be taken out soon or else begin another pullback

09 Feb 2018 03:36 pm
going to keep on going as long as 2601 area continues to hold up to test the 2609 area but should fall shy and begin to come back down if the market's going to close a week in the last 30 minutes. Otherwise, would keep going up to at least 2612-2615

09 Feb 2018 03:40 pm
hope that you have had a great week and will have a great weekend! I will send you and update Sunday and meets you here Monday morning. Take care!

 

INTRADAY LOG FOR THURSDAY - FEBRUARY 8, 2018

08 Feb 2018 09:19 am
Good morning. good overnight move with the ES dropping to 2645.25, then just made its high at 2686.50. there should be some early pullback and then run up again

08 Feb 2018 09:23 am
if you were short the ES overnight you could have covered at any time it was in the minus column and picked up 50+ points, but if in options or and ETF...

08 Feb 2018 09:27 am
still going to cover half on the open and have a stop at 88.50 on the rest.

08 Feb 2018 09:31 am
need to bounce off of 79-78 or could keep on going towards low 70s first

08 Feb 2018 09:34 am
74.25 low so far and if broken by much should keep going to the 68 area and must hold that are or lower 60s or more

08 Feb 2018 09:38 am
should not get back to the 78 area and hold unless going to have a chance going up to around 82-84 and any further than that could start a decent reversal

08 Feb 2018 09:41 am
pullback from 78.25 and needs to go under 74 and hold under 78 after that or else could run up towards 82

08 Feb 2018 09:44 am
need to hold under 74 and keep going to or through the 68-67 area and not get turned right back up above 72 with gusto and be able to stick or else there breakdown may be go towards 63 area

08 Feb 2018 09:50 am
reached 63 and needs to get back over 68 area and stick and on up through 72 in order to attempt a turn around. Bounces will keep failing otherwise

08 Feb 2018 09:53 am
has to get over 76 area still and then keep on going or else a move under 69.50 could mean another leg down of some sort

08 Feb 2018 10:00 am
bounce high in place as long as 78 is held below pressure should be on and going back under 68 most likely

08 Feb 2018 10:01 am
starting the day with bounces failing and as long as 78 is held below and then pressure still on the downside from yesterday/this morning

08 Feb 2018 10:03 am
could have a pullback low in place at 65.25 if 72 taken out and not turn right back down. Should be sold at 70-70 2F still week

08 Feb 2018 10:06 am
on the rest of the swing trade from yesterday, stop is at 78 as the other run up that takes that out could mean market attempting a low at least for a while – or just get out here and will reassess

08 Feb 2018 10:11 am
still cannot take out 78 and will need to bounce from above 70 or else a low may not be in place yet as it appeared it might be

08 Feb 2018 10:12 am
two-sided action with the bounces still failing but holding 70 at the moment and if broken then will get momentum for be sold on the next bounce

08 Feb 2018 10:16 am
this is going to stay bearish as long as 77-78 is not broken above – and able to stick. And needs to 68 area for a chance of that happening

08 Feb 2018 10:18 am
another failure under 78

08 Feb 2018 10:19 am
77-78, and now it's becoming the 76-77 area to clear and hold, but getting bid back up on the pullbacks to the 70-68 zone to break through here soon

08 Feb 2018 10:21 am
it's a short four bigger breakdown –if another bounce it will only set up a good short around the 74-75 area should be as high as it can go

08 Feb 2018 10:23 am
63 listed support and it should keep pushing through the 63-62

08 Feb 2018 10:26 am
bounce off of 64 at least needs to get over 70 and stick for a chance at another bounce, and if so instead of coming down, that should stop around the 74-75 area

08 Feb 2018 10:27 am
69.50 bounce high and still not able to get over 70/hold keeps pressure on to test or break 63 support – potential breakdown area if taken out and held after reaching 58 area

08 Feb 2018 10:32 am
took out 63 and reached 60.50 so far and needs to come back up through 68 area and hold above that and continued up through 70 otherwise still bearish downtrend instead of potential reversal

08 Feb 2018 10:38 am
has to get over 64-65 now and only a tiny pullback after that or else at least test 58.50-57.50 and could keep going to the 53-52 major area for today to avoid bigger trouble, possibly 45 area again

08 Feb 2018 10:44 am
ES held 1 tick above the 58.50-57.50 area must hold. Really needs to get over 70 and stick this morning though to get out of trouble for a while

08 Feb 2018 10:45 am
every bounce has been sold so far and unless that pattern is broken keep looking for shorting opportunities as soon as a bounce stalls or there is some rejection after bounce

08 Feb 2018 10:49 am
breaking through 58 area opens the door to go down to 53-52 area as long as bounces keep failing and right now holds under 67.50

08 Feb 2018 10:56 am
market coming down hard but should get a bit stretched and bounce a bit at 44-43 support area

08 Feb 2018 11:07 am
need to hold 51.50 and go up through 59.50-60.50 to get a decent bounce attempt before failing again

08 Feb 2018 11:10 am
52 reach so far and going through 51.50 without a quick up chart then continue to at least 59 and could be test or break of the low

08 Feb 2018 11:11 am
use another bounce or any bounce to be short as it should keep going down closer to the 2589 low although may not get all the way down there and should not if like a mini 1987

08 Feb 2018 11:15 am
here goes again and should test or break the low again otherwise get back over 60 and hold in order to attempt a reversal. With bad week and it being a Friday buyers should be stepping back today

08 Feb 2018 11:24 am
should continue to see bounces fail either all day or at least into around noon if this continues and a bounce doesn't take out 58.50-59.50

08 Feb 2018 11:26 am
I did not give a reentry but if still in a partial short the ES should not get back above 59.50 at the very highest and break lower highs/lower lows, so have a stop there at the highest

08 Feb 2018 11:30 am
38.50 was just reach and reversed per last night's update, and getting over 44-45 could change direction otherwise back down to or through 38.50 area and have another bounce or else further accelerate lower

08 Feb 2018 11:41 am
still niece to get over 59.50 in order to be out of trouble for a while at least, otherwise the bounces are suspect and could come back down to new lows unless broken

08 Feb 2018 11:44 am
need a bounce from 43 area or else lower low

08 Feb 2018 11:45 am
has to go up through 55 and especially 59.50

08 Feb 2018 11:57 am
with the low at the 38.50-38 support getting turned up, it needs to take out 59.50-60.50 area on this bounce attempt if there's going to be a low of some sort made, but bounces still should have trouble holding after a run up stops and stalls/shows r

08 Feb 2018 11:59 am
update and 10 minutes or so

08 Feb 2018 12:08 pm
with all of the bounces failing, the last being a rejection of 51.75, it should continue being sold unless there is a good move back above 59.50-60 that is able to stick. Could retest 38.54 lower

08 Feb 2018 12:10 pm
14.25, 14.75 point bounces before the 19.50 point bounce from the low, and probably should only get a bounce of 12-14 points maximum for this to stay in a very weak position

08 Feb 2018 12:13 pm
could end up with a decent end of day drop like yesterday or last Friday a similar degree. The better the bounce the better the short as long as 60 not broken and held at the moment

08 Feb 2018 12:15 pm
and with the high made on the open, a basic trend down day possible and low could be made at or near the close like yesterday and last Friday

08 Feb 2018 12:19 pm
I am going to be away until around 1:15 or thereabouts, and will update when I am free but in a nutshell it's going to be a "short of bounces" or just stay short kind of day as long as 60 is not broken and holds afterwards to change things

08 Feb 2018 12:36 pm
the 27.25 level held under 38.50 and unless the ES gets over that again and holds then pressure could be off for a while by holding 26-24 major pullback support today

08 Feb 2018 12:38 pm
NOTE: I have been saying this was looking like 1987 while in the parabolic move and it has followed script almost perfectly with the drop and then first decent bounce sold after 1+ days and dropping again. SO

08 Feb 2018 12:45 pm
if there is going to be a higher low and then a 2 year rally would follow but I doubt that part VERY much. But, the lowest this should go would be just above the 25.25-23.75 area. If that is broken through, only 2612-10 keeps it from going to or thro

08 Feb 2018 12:59 pm
easily broke through 24 area which was key area and should continue down to the very close to the 2589 area and there's a chance that it could be cut right through also the way this chart is looking. Would need to turned up from 2612 or else 2608 and

08 Feb 2018 01:02 pm
I didn't give 2612 and last night's update but 12.50-11.50 the zone down there before 2608-2607 then 2600 or else 2589 could be broken. 2587 is 10% from top to bottom in case. Right now holding 12 a must getting over 27-28/holding needed

08 Feb 2018 01:27 pm
running out ohmomentum and should begin to roll over as anotherfailed bounce

08 Feb 2018 01:28 pm
pullback will need to bounce from 25-24 area or else better underwaystill in may be another lower low

08 Feb 2018 01:34 pm
that ES hasn't had a 5 minutes close over its down sloping 20 EMA on the 5 minutes chart all day and turned it down again and unless 34.50 taken out/held then better rebound next time and sold into again. But shouldn't go back there if trend down mov

08 Feb 2018 01:36 pm
what is positive though is that the ES held 13-12 at the low and was turned up after a 70.50 point drop from the high on the open and 97 points from 2710 last 30 minutes high yesterday

08 Feb 2018 01:44 pm
with this recent volatility, holding over the 2589 low by 24 points might be close enough to be the higher low. still suspect, but looking possible making its second push higher from that low,pullback from 42.50-43.50 need to hold 32.50-30.50 at wors

08 Feb 2018 01:47 pm
don't remember if I mentioned earlier or not but if you were still in a swing trade from yesterday exit that position. Could be important low in place

08 Feb 2018 01:54 pm
pulling back after touching the 60 EMA at 49 right now but this uptrend stays intact as long as continues holding 38.50 area which could become pivotal now, bullish above and bearish if broken/held

08 Feb 2018 02:08 pm
rolling over again with the 60 period EMA being a led now that 49 but needs to get over at least the 38.50 area again or else pressure still on. Going up through 38.50-39 will need to hold or else a shot at the 44 area where down sloping resistance i

08 Feb 2018 02:11 pm
so far this is just a little zigzag "ABC" type of up move and a bounce should not get to or through 49 at the very highest or else would keep going on a fifth leg up towards 57-58 would be possible. A lower high and downturn through 31.50 could be sl

08 Feb 2018 02:20 pm
this run up made it to 46.75 so far and that NQ and Dow cash also in a similar position so they need to push through the 49 area and only a small pullback afterwards for a shot at possibly 54.50-58 zone.

08 Feb 2018 02:22 pm
with all I have had to do this week my mind is a little bit sketchy, so if I did not tell you to exit the swing trade, do so if 49.50 is reach. Unless broken there is a chance for one more rollover

08 Feb 2018 02:26 pm
this area around 35-32 can be a further breakdown area if not immediately turned up from that area back above 38.54 more

08 Feb 2018 02:27 pm
rolled over and reached 33.75 so far and should take out the 32 and if so had back down to the 22.50 area and possibly the lows again maybe lower

08 Feb 2018 02:30 pm
31.25 on the ES and 6441.50 on the NQ so only an interruption in the trend down moves and this still has a chance to keep going into the close. That cuts through this 22.15 area and especially the low

08 Feb 2018 02:38 pm
barely held above 22.50 and turning up so that may have saved the day or at least temporarily before another push lower occurs not too long from now

08 Feb 2018 02:45 pm
bounce failed and need to at least get back above 32.50-33.50 or else heading back down to or through 17.50 area next if this action continues

08 Feb 2018 02:50 pm
even a quick run up not able to stick very long and it should continue even on the run ups as long as a run up doesn't go through 38 area and only a tiny pullback afterwards

08 Feb 2018 02:55 pm
should keep pushing its way down through 17.50 area or more

08 Feb 2018 02:57 pm
17.75 reach so far and holding under 22.50 keeps strong pressure on or else there could be a small bounce of some sort that would need to go up through 32-33

08 Feb 2018 03:03 pm
up to this point every bounce has failed to day and bounce from the 17.75 area and turning up coincides with what is close to a double bottom/123 pattern, needs follow-through with gusto or fail again

08 Feb 2018 03:10 pm
I think too many people are now just seeing a corollary with 1987, so don't be surprised if 2589 is taken out next Monday as it probably doesn't have enough time to collapse all the way down there today

08 Feb 2018 03:12 pm
we had a high made on the open so with this being basically a trend down day with just a double top in the middle can break down further by going under 17.52 the 73.25 low or more and then have 17-18 area become resistance afterwards

08 Feb 2018 03:16 pm
testing the low and probably needs to do more than a 1-2 minute run up that gets sold or else could come back down and break through 14-13.25 area

08 Feb 2018 03:28 pm
with this turn coming from a double bottom of sorts the low should be able to hold in the last 30 minutes, if the bounce can take out 32-33 especially, and should be reachable before backing away if it's going to

08 Feb 2018 03:31 pm
feeble bounce failing under 32 and with that happening this could come back down to the lows again and possibly go through them in the last 30 minutes. Would need

08 Feb 2018 03:32 pm
would need to see the ES get over 32, and then just say small pullback after that. Otherwise you can short any bounce and you'll get them back as this is going lower

08 Feb 2018 03:36 pm
new lows and in the last 25 minutes bounces should still fail and the ES should go to at least 2608 area and could bounce but would need to be with some gusto and strong move over 32

08 Feb 2018 03:40 pm
2606 so far and that's just 20 points over the weekly low. have a great rest of the day. be sure to read the update this evening, and then I'll meet you here in the morning. Take care!

 

INTRADAY LOG FOR WEDNESDAY - FEBRUARY 7, 2018

07 Feb 2018 09:09 am
good morning. It looks like a tough call but looks like a bounce needs to start from 76.50 or higher for a chance at 87-88

07 Feb 2018 09:13 am
there making that move already. I'll update the little but before the open if necessary but a pullback from the high held at 76.50, a low around 3:50 yesterday

07 Feb 2018 09:23 am
if this is going to track 1987 still, then either topped yesterday or will top today, and then at some point take out an important low (right now breaking and holding under 76-77 and especially 72)

07 Feb 2018 09:23 am
this should stay in an uptrend as long as 84-83 holds

07 Feb 2018 09:24 am
will need to take out 88 and hold 87 or else pullback early

07 Feb 2018 09:26 am
back to 1987 corollary, if another breakdown then should go down to test the low and make a higher low, and that would be a good bottom. We will see

07 Feb 2018 09:30 am
getting over 88 and holding 87 needed or so and pullback more

07 Feb 2018 09:35 am
spiked down to 81.25 and 83.75 and unless 83.75 broken should continue getting bid back up after pullback

07 Feb 2018 09:41 am
made it to yesterdays high and should go through holding over 97 and take out 2704 area and if that is broken and then 12-13 possible

07 Feb 2018 09:43 am
2706.50 high so far and if not a top has to keep going up to the 12-13 area where the ES should come back down and possibly pretty fast if it takes out 97-96 and holds

07 Feb 2018 09:47 am
a top should be in for a while… Holds under 2702.50 now

07 Feb 2018 09:50 am
could be a small bounce from 90 but under pressure under 98-2700 and if broken would need to keep going not turn right back down under 2702.50

07 Feb 2018 09:52 am
should not get over 2700 area and hold and especially if a break under 97 not turn right back up

07 Feb 2018 09:54 am
97 pivotal up here and breaking under that without taking out 2702.50 could start a decent pullback again

07 Feb 2018 09:56 am
97 held on a dip and now has to take out 2702.50 with momentum and hold or else another leg down to or through 97, and if through that area then trend could reverse

07 Feb 2018 09:59 am
and try for the high and a token higher high should be sold if it's at the 12-13 area. A lower high and reversal under 98-97 could turn trend for a bit

07 Feb 2018 10:01 am
double top at the moment but so far pullbacks are being bought and should hold 98-97 and test or break the high or else things could change for a bit

07 Feb 2018 10:03 am
stalling out here and should rollover soon through 98-97

07 Feb 2018 10:05 am
held above it at 99.25, and unless 98-97 is taken out buyers still in charge, but they need to push it to a higher high and then likely get sold into around 12-13 if a stall or rejection

07 Feb 2018 10:12 am
13.25 resistance reached and shouldn't go much further under 2708 and especially 2703 area or a top will be in up there

07 Feb 2018 10:15 am
pullback held at 2808.25 new support and turned up and took out 13 and has a chance of reaching the 18 area next

07 Feb 2018 10:19 am
buyers are thinning out and backing away around highs and needs to get a good run up from dip above 2708 or else further breakdown to or through 2702 which should be a major area now

07 Feb 2018 10:22 am
stalled out and now rolling over and should have a 5 minute bar reversal pattern in place if 13.75 is not broken and head down to or through 2702.75

07 Feb 2018 10:28 am
so far holding 2706 prior early high area was reached and still needs a move over 13.75 at the upside is going to try continuing rather than dropping to or through 2703-2702 eventually here

07 Feb 2018 10:34 am
a choppy grind down to 2702.25 target/support so far and would need to get over 2708.50 area to attempt a turn around

07 Feb 2018 10:37 am
the 2702 area needs to hold now or else 98-97 next area and would break what looks like a pivotal area around 2702-2700

07 Feb 2018 10:40 am
bounce from 2702 key area now but stays under some pressure unless 2708-09 broken above and then only a small pullback after that

07 Feb 2018 10:47 am
bounce turned down at 2708 and right back down to 2702.75 again and that pivotal area still needs broken or else another run up could test 12-13 and possibly around the high

07 Feb 2018 10:56 am
almost to the high and a poke above that to the 18 area should be reversed if reached otherwise a chance at the 24 area

07 Feb 2018 10:58 am
pullback held at 10.50 and should come back down again or else go up to the 18 area and backed away of that after that at most

07 Feb 2018 11:02 am
they continue to be sold on pop-ups to a high or token higher high and allow a quick move worth a decent number of points and another token higher high likely will do the same. Bigger uptrend doesn't break unless 10.50 taken out and then a bounce tur

07 Feb 2018 11:02 am
18 area before any kind of pullback occurs on this move, needs to stall or be rejected

07 Feb 2018 11:04 am
18 reached and now a pullback should hold above 14 at the very lowest and go back up to test or break that high or else could be a top or a little while at least

07 Feb 2018 11:08 am
24-25 area is a possibility on this move up, but it will need to hold around 16-15 on a dip from here if it's going to have a chance.

07 Feb 2018 11:13 am
almost to the 24-25 area and then a pullback should hold 21-19 area in order to keep a strong uptrend

07 Feb 2018 11:15 am
can buy another pullback as the 32-34 major bounce resistance may have a shot today, and roll over from that area a good possibility if it gets there. Becoming intraday parabolic from last 90 minutes yesterday

07 Feb 2018 11:18 am
getting very close to what was the breakdown area on Monday, early pop-up came from 34.25 and went up to 63 and then 32.50 broken and 31.25 was not exceeded after rolling over. Should be a top for a while

07 Feb 2018 11:23 am
if there is going to be one more push higher than the ES should hold at 16-15 and turn up and began a new uptrend. Even if that happens, now is the time to start shorting for what could be a sizable pullback from this bounce high

07 Feb 2018 11:29 am
bounce reach 20.75 and was immediately sold and keeping some pressure on from the reversal at the high and could keep going to or through 13-12 which needs to hold now or else bigger move underway

07 Feb 2018 11:38 am
there was a chance to put on a short anywhere between 17.50 and 20.50 with the ES going sideways there under high. should not get back over 15.50-16.50, 20.75 especially, for there to be a chance at test or higher high. Stay short or be short at or u

07 Feb 2018 11:48 am
pullback stalled at 10.25 and then had a nice run up again, and after a 16.50 point pullback, so need to hold 2814 and then 2810-2708 or higher and take out 2720.50, or so down to 2702 major/pivotal area on the next pullback

07 Feb 2018 11:51 am
this pullback will need to hold 10.25 and bounce back over 18 in order to have a run at the highs and avoid a move towards the 2702 area instead. Update in 10 minutes or so

07 Feb 2018 12:04 pm
the ES holding the 2711-27 and area is about 4 times so far and unless broken and then held below the ES will avoid trouble and as a shot to test the high and possibly break it, and if so then should not get past 32-34 unless a melt up day again. Bou

07 Feb 2018 12:07 pm
bounces have been either stalling or having level spikes get turned down and start pullbacks which just happened but not aggressively sold as it still needs to take out 12-10 area

07 Feb 2018 12:16 pm
bounces continue failing and must not go under 15 area on pullback if going to make another move up towards the 20 area and must not turn right back down yet again or else hopping out topped out on this bounce

07 Feb 2018 12:17 pm
put options imploded today with the VIX taking out the implied volatility and are a bit more fair price, and easier to hang onto when there is big volatility even in a 5 minute chart yesterday. Easier to hold onto shorts without getting shaken out

07 Feb 2018 12:19 pm
a break under the 10 area breakdowns stops to 21.50 as that should not be seen again at a high is in place after taking out important support at the moment

07 Feb 2018 12:27 pm
this is the fifth time to the 11.75-11.00 that held, and key area to break under and hold under after that for a reversal to the downside to have a chance from up here. It certainly looks like the top won't be broken easily, these lows have a chance

07 Feb 2018 12:28 pm
I will be back around 1:24 a little after but will update when time permits ASAP. Right now you should have some kind of short position in a stop at 21.50 at worst, and would tighten it if a break/hold under 11 area

07 Feb 2018 12:35 pm
breaking down and 2702 area is a major area that must hold or else undergo a bigger breakdown of the 100+ point bounce from 2:20 PM yesterday

07 Feb 2018 12:42 pm
if 2704-2702.50 is broken, and barely a bounce after that then look for a move towards 94 and if that does not hold been 87 area needs to be maximum otherwise another 5-10 points lower should happen easily. 11-12 now minor resistance and 14-15.50 is

07 Feb 2018 01:00 pm
if you are just in a daytrade somewhere between 17.7 and 20.50 from earlier, then you might want to cover on another dip at the 2703-2702 area– needs taken out/held next. Look for 2690 8F broken

07 Feb 2018 01:03 pm
still needs to go through 2702 and not get turned right back up in which case the 2698-97's next and 87 area a major pullback support to hold nicely above to keep the market from bigger breakdown.

07 Feb 2018 01:07 pm
it's working out like 1987 if we can get a move back down under 2700 and hold under 2702 and keep pressure on to break the 80 area, leaving a big wick tail on top. Stays in a good downtrend holding under 2708 now at highest. 87 needs held or bigger d

07 Feb 2018 01:10 pm
if you happen to be holding shorts from earlier with the ES bouncing after coming down from its top, might want to tighten stop as the 10.50-12.50 zone is new resistance. Downtrend safe unless broken above/held this afternoon

07 Feb 2018 01:20 pm
so far reached 88.50 and just through the 87 support I gave earlier and could be a bounce but would need to go back up through 2699-2701 area at least to break current downtrend. Could be a bottom for a while, to cover shorts at or below 97-96 Not co

07 Feb 2018 01:23 pm
bounce stopped at the 2699-2701 area and just pulled back to 2693.50 already and unless the ES can get back over 2701 and hold 2699 area afterwards still in trouble with bounces being sold

07 Feb 2018 01:24 pm
if you have covered as a date trade and not holding on for a swing trade, then you might want to read enter on a bounce that stops at or below 2699-2701 area

07 Feb 2018 01:30 pm
at the moment both the Dow and the ES attempting to stall out for a run up to attempt, but if not strong enough to get the ES over 2699-2701 and stick then a bigger breakdown can occur coming back down a third time from that resistance or lower

07 Feb 2018 01:33 pm
coming back down from a lower high and should be a top and if not that one more pop-up gets sold again

07 Feb 2018 01:49 pm
so far the ES took out the 2699-2701 area and now attempting to hold that area on this dip, and will need to turn up soon and go up through 2712.50, otherwise reverse and down to/through at least 95 area

07 Feb 2018 01:52 pm
watch for 96.50 area as a minor support but still should come down to or through 95-94 area, possibly back towards its close

07 Feb 2018 01:56 pm
it's lows, not close. 85.50 pullback low and low of the day at 80.75 only 4.75 points below, which is about a 30-45 second move which we have had a number of today. Pressure still on holding under 2698-2700 area on this bounce

07 Feb 2018 02:00 pm
update and about 10 minutes. Never got my lunch break in. At the moment this remains vulnerable for a pullback again unless 2702.50 area reached with some gusto, not stall out around that area and roll over

07 Feb 2018 02:00 pm
rejection on that move and should be a top

07 Feb 2018 02:03 pm
eventually I'll get a short break in. at the moment stay with short side as long as that 2706.75 bounce high is broken through with some gusto, and a break and hold under 85.50 on the way to or through 80.75 low of the day for a bad looking chart set

07 Feb 2018 02:05 pm
as to continue moving down through the 87-85.50 area, otherwise bounce back from a higher low but not get back over 2701 resistance and spike high about 8 minutes ago

07 Feb 2018 02:19 pm
the ES has made a few bottoms around 88-87, was not under 87 on the move to 85.50 very long before popping right back up again. Must continue holding that zone to stay in the plus column today, otherwise failing under 2701 and dropping under 87 looks

07 Feb 2018 02:25 pm
turned up at 2:10 and this bounce is going to fail around the 2702 area and if so could come back to or through 97-96 and it broken then 87 a key area to hold

07 Feb 2018 02:28 pm
looks like this still needs to take out 2702 area or else could roll over one more time if not broken above pretty soon

07 Feb 2018 02:33 pm
it looks like it could keep on going towards the 2706.75 prior swing high area and possibly reverse around that area, but if broken through then potential of going up to/through 2710-2712

07 Feb 2018 02:35 pm
should roll over here at the 2702 area to get a 2:30 top in place, but breaking down only by pushing under 99-98

07 Feb 2018 02:40 pm
bounce high should be in now and work its way back down through 96 area gets it going to or through 88-87 key support now

07 Feb 2018 02:42 pm
that ES has been making higher highs and higher lows so far off of 88.25 pullback low and taking out 96.25 just broken that last lower low, bounce should fail under 2702-2703 and keep dropping at least a bit more

07 Feb 2018 02:44 pm
normally the market would come back down to around yesterdays lows, still quite a ways below here, another volatile day but they sizable move lower from the high made today as expected per the 1887 corollary

07 Feb 2018 02:47 pm
still heading down to test or break 88-85.50 zone – if broken then could keep going to or through the 80.75 low of the day and test 76.50 possibly

07 Feb 2018 02:50 pm
87.50 reached so far and on its way to or through 80.75 and possibly 76.50 or lower if this comes apart at the end of the day rather than a bounce from down here

07 Feb 2018 02:55 pm
with an entry ~2719 on a short position, daytraders already locked in at least partial profits and is still short stay with this and a stop for the rest of the day should be about 15 points from this low, but 82.25 held so far and only 2 ticks over t

07 Feb 2018 02:59 pm
if you are going to hold overnight with me, still might consider taking partial profit and reentry on 1/2 if a bounce sets of correctly. so cover part at 89-88 or better

07 Feb 2018 03:02 pm
might be late day run up if the double bottom on the Dow cash holds and if 87.25 holds on the ES.. Right now could be another 15-20 point bounce from the 87.25 low

07 Feb 2018 03:08 pm
could be making a lower high with this stalling out after 17 point bounce and needs to go under 96-95 area and not turn right back up or else headed up to or through last swing high area around 2704 possibly

07 Feb 2018 03:13 pm
a pullback down to 93 would be halfway back down, but it's not acting like it's going to breakdown, but could be set for another move up as long as the 95.75 low holds

07 Feb 2018 03:14 pm
2:50 PM reversal and the way the market has acted lately this could go up and take out 2703.75 and 2706.75 swing highs on this move and then back away a bit

07 Feb 2018 03:17 pm
I need to cut out just a little bit early today, however even though a short-term low could be in place around the 2682 area, not sure that is going to be THE pullback low before another strong run up. Can come back down tomorrow.

07 Feb 2018 03:19 pm
in the last 45 minutes the ES needs to take out 2703.50-2704.50 area and be strong enough to hold around 2702 on a dip and turned up, otherwise a continuation lower from 2703.50 goes under 2695.50 without a strong reversal, could go back down towards

07 Feb 2018 03:22 pm
hope that you have a great rest of the day. I will update this evening and then meet you here in the morning. At the moment, run up possible as long as 99-98 not broken below. Take care!

 

INTRADAY LOG FOR TUESDAY - FEBRUARY 6, 2018

06 Feb 2018 09:09 am
good morning. due to the current volatility, and since not everyone is able to join the live sessions, I am going to cancel them for this week. Apologies to you regulars.

06 Feb 2018 09:10 am
with the ES slightly lower there should still be some pressure on as long as 2602.50 is held below

06 Feb 2018 09:14 am
it is looking like 2606 needs broken above and have just a tiny pullback or 2598-96 can be reached or broken before a bounce

06 Feb 2018 09:30 am
looks like 2606--2608 needs taken out and held to attempt a run up of some sort. Not sure about some of the zones today aside from 92-90, 68-66 and 45-43

06 Feb 2018 09:32 am
should hold 2602-2601 area now at worst and this will avoid breakdown

06 Feb 2018 09:35 am
needs to hold around 15 area and is broken 2608-2606 at worst

06 Feb 2018 09:36 am
32 area should hold this back or else 35.50-36 area above that

06 Feb 2018 09:39 am
40-42 zone reached and a shot at 49-51 only after a pullback that holds over 32 area

06 Feb 2018 09:40 am
has to get over 42 and hold 40 at worst or it won't get to the 49-50 area but start some kind of pullback instead

06 Feb 2018 09:48 am
relatively big ranges even on a 1 minute chart and a stop and needs to be 2-3 points and a bigger target area to not be shaken out. ES going up 18 EMA on 1 minute chart and needs to hold 43 maximum

06 Feb 2018 09:51 am
a chance this can keep going up to 66.50-68.50 if it does not top out at 62 area

06 Feb 2018 09:52 am
63.75 high and could be a top for a little while

06 Feb 2018 09:53 am
if this breaks under the 18 EMA on 1 minute chart which is holding on every

06 Feb 2018 09:54 am
82-83 area and then major at 96-98 and now 70 should hold to keep going straight up

06 Feb 2018 09:56 am
80 reached and that might be a top if this comes down through around 65 area now – huge ranges

06 Feb 2018 10:01 am
past to hold around the 48 area otherwise can come back down to around 40 and that has to be maximum. Bounce resistance at 68-70 and should be held at or below work could test the high

06 Feb 2018 10:07 am
if this doesn't back away from that 80 area it should keep going to or through 82-83 or oh higher as a major bounce area before 96-98 which should be hard to break unless 83 broken/holds 80 or higher. Topping if it cannot get through 80 though

06 Feb 2018 10:09 am
top should be in place after a 92 point run up and double top and should at least test or break 50-48

06 Feb 2018 10:18 am
taking out the 40 area would make this even more bearish and could go to the 25 area and maybe 30-28 for more down to the 12 area

06 Feb 2018 10:24 am
bounces failing and should continue as this goes down to the 30 area and could go down towards 22-20 also

06 Feb 2018 10:30 am
bounces keep bailing and taking out 28 should keep going to or through 22-20

06 Feb 2018 10:33 am
this is tracking 1987 in a somewhat similar fashion similar fashion, just in "fast-forward" right now but the absolute low which was made this morning should be tested again, but a higher low made unless bigger collapse coming. right now 45 needs tak

06 Feb 2018 10:35 am
24-22 area will need to hold down here if there's going to be another bounce attempt and not further breakdown. Bounce would need to take out 38 area now it looks

06 Feb 2018 10:39 am
20 easily broken through to 15.50 so far and needs to get over 28-29 and not turn right down for a break of the current downtrend

06 Feb 2018 10:48 am
about 92 points up and about 65 points back down and this bounce needs to get over 45 area and hold or else come down to or through 32.50 area and if through that area then test or break of the low

06 Feb 2018 10:51 am
need to take out 45-47 area or else just a bounce and back down to or through the 30 area but if broke and then could go up towards 55 area again

06 Feb 2018 10:58 am
did not make it down to 30, but did run up over 47 but stalled at 51.50 area and now testing/breaking under 40 could go to 34.50 and lower towards 22 possible

06 Feb 2018 11:06 am
pullback held at 33.75 and this bounce needs to take out 52 or else come back down to test were break 33.75 pullback low

06 Feb 2018 11:09 am
another film bounce attempts at 44.25 and should keep coming down to at least 32 and could keep going towards the 15.50 pullback low area if broken

06 Feb 2018 11:18 am
that ES went right through 32 and spite down to 27 and a quick reversal back up, and with this choppy action (17 point pop/drop on 5 minute chart for example) best to either buy options or only get involved after a decent bounce stops and stalls

06 Feb 2018 11:20 am
pullback should not go under 24.50 area now unless it's going to have a break down towards the 15.50 pullback low

06 Feb 2018 11:25 am
buyers on coming in on dips until 39-40 area reached and now can come back down to the 32-30 and if broken 24.50 must hold to avoid better breakdown

06 Feb 2018 11:31 am
bounce from 24 did not stick after reaching 36 this time and another move under 24 could go down to or through 15.50 pullback low area. Pressure should stay on unless 39-40 broken/held

06 Feb 2018 11:36 am
17.25 higher low made so far and still can test or break 15.50 if a bounce does not go over 29.50-30.50 area now, and then 39-40 above that

06 Feb 2018 11:43 am
turned up from 17.75 and so far only a 12+ point bounce and needs to get back over 39-40 in order to be out of trouble for a while, otherwise could come back to or through 17-15.50 new key support area or else go to 2608-2606

06 Feb 2018 11:52 am
and attempt to get things turned around with this holding 27 while going sideways and running up from there and should test or break through 50-52 area on this move

06 Feb 2018 11:54 am
bounce high possible at 44, holding well under 50-52.appears that the 34 area needs to hold on any kind of pullback now or else a failed bounce attempts probably made and could go to or through 18-17 then

06 Feb 2018 11:58 am
update in about 10 minutes or so. – Failing under 44 right now, has to be broken and go over 52. The 35.25 pullback low and needs to hold 34-32 at worst or else breakdown under 27.

06 Feb 2018 12:11 pm
with the 33 area holding that ES just made it to 46 and needs to go through 52 in order to attempt breaking sideways and this range or come back to around the 38 area, if broken and goes through 33 another bounce high in place

06 Feb 2018 12:19 pm
buyers have been coming in on all pullbacks but only poking over the 52 by just 1 point and the closest to a resistance all day I think, and now needs to break under 37-36 to have another important bounce hot in place and a decent pullback calming

06 Feb 2018 12:21 pm
holding at 42 needed or else continue breakdown to or through 38 and then 34-33 area could be in the cards again

06 Feb 2018 12:23 pm
I will be away until around 1:20 but will update ASAP as soon as free if one is necessary. Right now another pop-up should be a short, as this could have a decent pullback underway if not a strong bounce off of 38 area

06 Feb 2018 12:45 pm
the 52-50 area which was a bounce high in resistance is now a pivotal support area that should hold above to have another run up. That would require a 15-17 point pullback, and also break the higher lows on the charts if taken out

06 Feb 2018 01:02 pm
a bounce high is now in place and should continue holding under 54-55 area for this to keep on going down possibly to around the 33 area and maybe even 17-15

06 Feb 2018 01:31 pm
bounce from 36 had some gusto but stopped at 54 and rolling over to come down to test or break under 40-38 or lower

06 Feb 2018 01:36 pm
36-35 need to broken through with some gusto otherwise another little double bottom possible is it doesn't turned down from 44.50 area and keep going up to or through 54

06 Feb 2018 01:42 pm
rolling over from 47.25 and should take out these lows around 36 eventually if it can't get over 50 and especially 54 very very very soon

06 Feb 2018 01:48 pm
well for the third time the ES is holding the 37-36 area and it is becoming key support and possibly a pivotal area if broken through by enough that it turns into bounce resistance. Need to get over 44.50 and not break 43 to reverse up and avoid brea

06 Feb 2018 01:55 pm
so far as come down to 32.75 and unless a good bounce with momentum back over 44.50 then can keep going lower but hold and turned up at or above the 28-26 area. 32 could be a low IF 37.50-38 taken out on the upside

06 Feb 2018 02:05 pm
the ES rallied 91 points in 25 minutes, and reverse from a token higher high 10 minutes later and dropped 65.25 points, bounce 51.25 points, 39 point pullback so far – needs a hold 28 to avoid 50 point drop towards 17 are or more a

06 Feb 2018 02:09 pm
slowly but steadily working its way down towards the 17.25-15.50 morning pullback loads and should take them out if they get there with momentum

06 Feb 2018 02:11 pm
still following 87 script, especially if this doesn't take out the 25 low and drop down to 17 or lower

06 Feb 2018 02:25 pm
normally the market has a turn around within 8 trading hours after getting the panic/capitulation and with 17-15.50 holding in the afternoon that 2589 low may not be tested. A higher low was made in 1987 before the bottom was put in – my biggest mo

06 Feb 2018 02:29 pm
at the moment, with all bounces failing, even an 18 point bounce and a 13.25 point bounce,one would think taking out 24 would open the door to go down to 17-15.50, but unless broken another decent pop-up can happen

06 Feb 2018 02:33 pm
amazing today that the VIX is trading slightly lower about 1.5% and the VXX is currently up 18% again today. In any case, the ES is going to stay out of trouble as long as it continues holding the 24 area the rest of the afternoon even if decent pop

06 Feb 2018 02:35 pm
less likely this time. Look to be a buyer if there is a decent pullback that gets turned up from 28-26 if reached again, and not keep going on this move this time

06 Feb 2018 02:38 pm
42.50 reached on the run up and should bounce from 35-32.50 area at worst and be turned up from there if another push higher coming and not retreat back to these lows

06 Feb 2018 02:41 pm
so far held 35 and popped up so far to 40.25 and should keep going up to the 45 area

06 Feb 2018 02:46 pm
getting upside momentum with move over 42 and reached the 48 resistance next being or area which should be tested this keeps going like this, and holds above 42.50 area

06 Feb 2018 02:49 pm
took out 54 and now only getting through 67-68 is in the way of the size made in the first 30 minutes this morning

06 Feb 2018 02:54 pm
pullback should hold at or above 50-47.50 at worst you make another move higher that takes out 67 area and not reverse instead

06 Feb 2018 02:57 pm
67 target easily reach with 69 being reach on this move, and if a pullback 58 there can get the another move up towards the 80-82 high area from this morning

06 Feb 2018 03:05 pm
this is going straight up since the 2:20 low and reversal up and so far as the height of the day by just 1 point but should make another high before any sort of pullback as long as 69.50 is not broken to break the uptrend

06 Feb 2018 03:08 pm
going through the 82-83 area solely and now should go 74 at lowest to keep this straight up move from breaking. major resistance that needs cleared his up 96-98

06 Feb 2018 03:14 pm
1987 and fast-forward right now. If this bounce/rally stops at or below 96-98 and rolls over again then there could be a test of the low – but a higher low a little bit above this morning's low at 2580 if like 1987. All and fast-forward

06 Feb 2018 03:16 pm
so far 93 is the new high of the day and needs to hold around 75 at worst and turn up another time for a shot at the 96-98 area, although it may not be seen until tomorrow

06 Feb 2018 03:19 pm
if it is going to. If no bounce from 75 then there could be a 35-45 point pullback from this 93 high and holding and bouncing again

06 Feb 2018 03:23 pm
21 point and should get one more run up at least unless there is a break and hold back below the 72 and especially 67 areas. Needs to be more than a token higher high if a bounce before going under 72 and especially 67

06 Feb 2018 03:26 pm
decent pullback of 21+ points and should get going back up to the high area again and if there is a strong move then 96-97 could be seeing. Will need to hold above the 71.50 area in order to keep this going

06 Feb 2018 03:33 pm
in the last 30 minutes ES will need to continue holding over the 71.50 pullback low area in order to have a shot of testing the high. Or even going up to the 96-98 area or higher

06 Feb 2018 03:35 pm
it doesn't look like it's going to happen at the moment but if the ES comes back down through 71.50 somehow then it opens the door for a move to around the 58-56 area at worse

06 Feb 2018 03:36 pm
have a great rest of your day! Check out tonight's update and then meet me here in the morning. Take care, and the on the lookout for a potential run up towards 96-98 at the end of the day

 

INTRADAY LOG FOR MONDAY - FEBRUARY 5, 2018

HOW OUR TRADING DAY WENT: After the oversold bounce top at the 2763 initial resistance and turned down, I started telling members to get short and stay short and 2698-2696 was a target. That got members at least 30-40 points, but if they were following it was similar to 1987 that it was. CLICK HERE to check out member and fellow trader Ian's video!

05 Feb 2018 09:12 am
Good morning. there is going to be follow-through selling after Friday's carnage needs to hold 42.50-42 and go above 47-48 at a minimum and stick to get this turned up a bit

05 Feb 2018 09:17 am
38-37 is important to hold to avoid test or break under last night's Globex low at 33 and just over last listed support at 32.50-32. if broken then 28-27 and then way down there

05 Feb 2018 09:22 am
would need to get over 43 and stick now

05 Feb 2018 09:27 am
there should be a decent bounce before reaching 2698-96 area or lower bigger picture. Under the 32 area is the 28-27 and then around 22 and then 2808-27

05 Feb 2018 09:32 am
so far holding over 33-32 on the open and getting above 42-43 and holding 40 and turning up needed or else to or through the low

05 Feb 2018 09:36 am
should need to hold 42 and that comes down to 40 in order to keep going up through 47-48 and stay to or that area

05 Feb 2018 09:37 am
should be hard to get through 47-48 without some sort of pullback

05 Feb 2018 09:39 am
46.50 top for a short while holding under 46 back to 40.50-39.50 must hold or could go back towards the low

05 Feb 2018 09:41 am
still under pressure unless a run up from 40 takes out 44

05 Feb 2018 09:44 am
pop-up sold into and should be under pressure holding under 40 down to test or break the low area

05 Feb 2018 09:45 am
a move above 40 should need to take out 43-44 and hold around 42 area after that in order to get a turnaround possibly test or break through 47-48

05 Feb 2018 09:49 am
bounce turned down at 42.75 and unless 43-44 is taken out and held and on up through 47-48 in order to have a bottom for a while and try to fill the gap at 55.25 would be possible but not looking likely yet

05 Feb 2018 09:51 am
40 area should be pivotal here and needs to keep holding and get through 43-44 with some gusto or else 46.50 will be a top and go back down to test the pullback low area and if broken 32.50-32

05 Feb 2018 09:59 am
almost to the high of the day and 47-48 resistance just above 46.50 and needs to hold 42 or else could go back to or through 40 and start of taking out the high the first time up

05 Feb 2018 10:04 am
40 area is going to be pivotal it appears and reversing from 47-48 area would need to hold 42 and if broken then pivotal 40 must hold

05 Feb 2018 10:09 am
the 55.25 gap fill area should be a target if this can hold over 46 on a pullback now

05 Feb 2018 10:12 am
52-53 prior initial support needs taken out to reach the gap at 55.25 for a bit higher and should not come back down to the 46 or else another bounce might have trouble holding

05 Feb 2018 10:14 am
the VIX is turning down from a big extreme and to profit from a reversal the XIV can be bought.

05 Feb 2018 10:16 am
52 now uptrend support and needs to go through 55.25 and fill the gap or else come down to test or break 52 area or lower towards 50 or more

05 Feb 2018 10:22 am
51.75 held and ES just filled gap at 55.25 and needs to go through 58 and only a tiny pullback to keep going towards the 63 area which should be a key resistance on this bounce to get through

05 Feb 2018 10:26 am
should keep going up to 63 area and if that is taken out then will only need to be a hold over 59.50 at the most and turn up for trend could be reversing for pullback of some sort

05 Feb 2018 10:30 am
63 reached and so far pullback to 60.25 and should go to or through 59.50 and reach 56 or more to have a decent reversal

05 Feb 2018 10:34 am
if 56 taken out at can keep going towards 53-52 again and needs to hold their or else another bounce should fail

05 Feb 2018 10:38 am
small bounce sold and they test of 54.75 pullback low but with this turning down from 63 bounce resistance/the initial resistance right now market bearish unless broken

05 Feb 2018 10:38 am
51.75 area next

05 Feb 2018 10:44 am
53.25 pullback low so far and 63-64 is still a strong and major area for the morning, and a chance of that being reached only if a move up from 56 with some gusto soon

05 Feb 2018 10:48 am
almost up to the 63-64 area, and it broken will need to hold 63 area or else come back down to 64 more before another bounce attempt that could reach 66-68 No double top

05 Feb 2018 10:51 am
after holding 56 and running up with some gusto to a slightly lower high at 62.50 the ES now must hold at 53 initial support again otherwise breakdown from double top and hold back further again

05 Feb 2018 10:59 am
we've had and oversold bounce come from just over 32.50-32 major support so far and go up 28.75 points, and 1%, off of the low and should pullback to or through 54-53

05 Feb 2018 11:03 am
popped right back up from 56.50 and highs now at 63.00, 62.50 and 62 and needs to clear through 62-64 in order to break attempt at trading range with buyers around 56.75-55.75 area

05 Feb 2018 11:17 am
little pop-ups keep failing from the 62 lower high and almost back to the 55 level so far and a failure under 58 should mean going down to or through 53-52 initial support area or more

05 Feb 2018 11:24 am
bounce from the 51 area needs to take out 56.50-57.50 and not turn right back down but the strong enough to hold 54 area otherwise back down to or through 51-50

05 Feb 2018 11:30 am
bounce from 51.50 fail that 55.75 and pressure will stay on under 56 area now to break 51.50-50.54 more

05 Feb 2018 11:31 am
bounces still should not be able to stick on the way to or through 48-47 or more

05 Feb 2018 11:34 am
bounce should hold under 53.50 area and go under 50 and not get turned right back up to get down to 48-47 or more

05 Feb 2018 11:40 am
48.50 reached so far should go to or through and get back above 52-53 with some gusto to get back to or above the 57-58 area

05 Feb 2018 11:46 am
steady downtrend stays in tact holding under 50 area now and 44-43.50 is small support that should hold to get a bounce some sort before either reversing or coming back down to/through the 44-43.50 area

05 Feb 2018 11:51 am
still in a steady downtrend as long as 48.50 area held under, if not then 50.50-51.50 needs taken out and able to stick

05 Feb 2018 11:57 am
could be a bounce low in place if the ES is able to get back above the 52-53 area and stick, not turn down from that as new resistance again

05 Feb 2018 12:01 pm
we have a low so far at 34.25 during regular trading hours and 33 in Globex trading last night, holding just over 32.50-32 major area. Short-term major area to avoid possibility of dropping to or through 2696 area

05 Feb 2018 12:04 pm
quick run up to 50 stalled out 2 minutes and rolled over again and should stay in trouble unless there is a move over 50 able to hold

05 Feb 2018 12:12 pm
if this keeps going through 40.50 and no good bounce look for 37 as that must hold or else could and up testing or breaking the 34-32 area which should be a major support now with 2 lows down there just above support

05 Feb 2018 12:16 pm
bounce attempt from just over 40.50 needs to get over 44-45 at a minimum or else had back down through the 37.50 prior support and test/break through 34-32 so stay with the short side on bounces unless 50 broken again

05 Feb 2018 12:18 pm
oversold bounce was 28.75 points and from just above major selloff support and the ES would need to hold and rally back up above 62-63 at the end of the day

05 Feb 2018 12:20 pm
I will be away until around 1:15-1:20 but well update when a bit of free time to do so, though need a break of some sort. Continue shorts or be short for now under 50 – could be breaking 32 area going towards 28-27/lower possibly

05 Feb 2018 12:39 pm
with the ES coming down to the 32.50 major support and turning a little bit so far, it won't stay as a double bottom unless the ES can get over 44 – then hold 42 on a dip. Still could break further otherwise

05 Feb 2018 12:48 pm
has to get above 44.50 and hold 42 on this move to avoid a potential rollover that tests for breaks 32 area

05 Feb 2018 12:59 pm
bounce rolling over after getting to the 43.25 level and stalling out before quick push down and could keep coming to around 36 if a chance to bounce before coming down to 32 area again

05 Feb 2018 01:09 pm
28.75 point bounce to the 63-64 resistance with 62.50 and 62 highs rejected before rolling over again bounce attempt from 32.50 low an epic failure as 43.25 high ) new resistance stopped bounce and 22.50 needs held next or air pocket possible

05 Feb 2018 01:12 pm
taking out the 22 area and holding would really put some pressure on and go right down to or through 18 area and possibly 12 area before a decent bounce

05 Feb 2018 01:19 pm
the Dow cash is coming into a gap from 1/4 top to the 1/5 low and would need to break its low and keep going down another 60 points to 22,942. That would coincide with about 2712 area on the ES. ES needs to take out 20.50, not get above 27 and stick

05 Feb 2018 01:24 pm
ES trying to hold just above 18, and must and bounce with some gusto above 26-27 or else could end up with another push lower towards the 12 area if broken next

05 Feb 2018 01:28 pm
another tiny bounce stopping at 23.25 and 16.25 reached thus far and one more push lower should get it to some support around 14-12.50

05 Feb 2018 01:34 pm
15 was reached and not far above the 14-12.50 zone that is the last major area (08 and 02.50 minor) before the 2698-2696 zone. Should not be broken now, else go to that 14-12.50 area. Need to get over 24 on this bounce

05 Feb 2018 01:43 pm
still trend down action but so far holding 14-12.50 area so another bounce could fail also. If 14-12.50 holds though and takes out 24 then trend down action could be stopped for a bit

05 Feb 2018 01:55 pm
so far the little double bottom has been only getting a feeble bounce attempt turning down at 23.75 so far and needs to go 10.25 points or more from the low in order to break downside symmetry so 24-25.25 area needs to be taken out for this to have a

05 Feb 2018 01:56 pm
to get a move back up towards the 32.50-34 last trapped area or higher

05 Feb 2018 02:01 pm
pausing just under 32.50-34 at the moment but took out some resistance that should help make that a low, otherwise it should be made around 2:55-3:00 PM

05 Feb 2018 02:08 pm
48 point drop from the 63 top made this morning and another bounce that failed under the 32.50-34 area now and would need to get back above 26.50 area in order to break current downtrend momentum for keep going trend down

05 Feb 2018 02:10 pm
if this action continues then the ES could potentially see the 2698-2696 area which right now should be major intermediate-term support/prior breakout area. Don't expect bounces to stick still, trend down still going

05 Feb 2018 02:16 pm
everything being sold into, even the little pop-ups cannot stick. be short still on any kind of bounce attempts as we could still see the 14-12.50 area be tested for broken holding under 25.50 pop-up high

05 Feb 2018 02:25 pm
14-12.50 being approached and held by 1 tick so far, should end up breaking that area eventually by the way the market has been acting and at least test 2708.50 or more if that happens

05 Feb 2018 02:27 pm
every bounce and's up with the ES coming back down to a new low all day today and should continue until around 2:55 or later if this action continues, and with the Dow about 40 points from closing its gap the ES could get hit another 4-5 points from

05 Feb 2018 02:32 pm
2708 easily reached and could be a bounce but it's so not stick as it appears to be gravitating towards the 2698-2696 area or at least the low 2700s

05 Feb 2018 02:34 pm
S&P 500 down more than 1.8% and the Dow down more than 2.1% with the market coming apart again today and target at 98-96 possible. We will see, the Dow cash just about to fill its gap

05 Feb 2018 02:38 pm
Dow cash now has fill the gap from the higher open on 1/5 and ES turning up from last minor area at 2704, in front of the 2698-2697 area just below. Bounce needs to get over 11-12 area and stick, or else another push lower instead of decent bounce at

05 Feb 2018 02:46 pm
the Dow rallied 1900 points from the start of January to its top Friday, February 2 and dropped ~1700 points since then. ES rallied 202.25, dropped 172.25 points. So far 2703 low, needs to hold 2706 area now to avoid going back down there it looks

05 Feb 2018 02:48 pm
it's just going to stay in a steady downtrend to or through 2698-2696 – 2688 under that –unless there is a move back over 2711-2712 not turn right back down

05 Feb 2018 02:50 pm
bounce from 2700.75 new low needs a bounce over 2707.75 otherwise still under pressure and going to or through 98-96 area

05 Feb 2018 02:50 pm
I have been pointing to going to this area most of the day and the afternoon at least and a target but still can go lower towards 88 if this keeps going like this

05 Feb 2018 02:54 pm
the VIX up 58% over 27, ES reached 96.25 and so now the 98-96 zone has been tested, so must hold and get going more than 15-16 points, at the moment, or just a decent bounce in this downtrend

05 Feb 2018 02:56 pm
still not out of trouble – needs to get over 18 EMA on 1 minute chart without turning right back down for this steady downtrend to have a dent put in it and maybe attempt turn around – downside guide unless broken though

05 Feb 2018 02:58 pm
straight down to the 2692.50 level, and there is support at 88-87 area next. Kind of in a freefall and should have a snapback with gusto to get a bottom in, not these pops that stall

05 Feb 2018 03:00 pm
better drop today on the Dow that on Friday, amazingly the NQ quite a ways from its end of the year close versus the Dow and ES still in freefall and bounces should not stick

05 Feb 2018 03:04 pm
it's funny they are speechless on CNBC. I have been saying to be short for the 98-96 area or more, and reached the target but bigger breakdown with some panic today, 2682 will need to hold or it could get REALLY ugly. Looking at 2673 next

05 Feb 2018 03:10 pm
we are having a mini-crash with everything unwinding and only the NQ above the year end lows – we will see at the close think I have the right numbers

05 Feb 2018 03:13 pm
35.50 so far and the Dow just reached an important area around 23,921 that should hold or must hold and this should be the end of the panic down move for now and 81.50 area a major bounce resistance

05 Feb 2018 03:18 pm
should be important bottom and right now, rally could be good but needs to come back down one more time above lows. the Dow has so far and likely will hold just about 2 points above its 12/1 low, when it filled a gap between 11/29 hi and 11/30low

05 Feb 2018 03:20 pm
must bounce from 70 or else end up with a bigger pullback rather than bounce attempt from around that area or above

05 Feb 2018 03:28 pm
stopped and turned around from 68.50, which is pretty close given this volatility. Cut back trade size and allow wider stop and bigger target due to volatility – or stand aside. At the moment looks like important lows in place– must hold or else

05 Feb 2018 03:32 pm
if 80 area is broken then 70-68.50 area below that important area to hold above in the last 30 minutes or else there is a chance this could keep going towards its lows again.

05 Feb 2018 03:34 pm
but if 80 holds and there is a move back above the 96-98 area then that will need to hold also if the ES is going to finish the day on a decent note given how far it dropped during the panic phase. Need a push over 98 soon

05 Feb 2018 03:37 pm
have a great rest of the day! I will meet you here in the morning. must take out prior major resistance at 96-98 to avoid poor close. Take care!

 

INTRADAY LOG FOR FRIDAY - FEBRUARY 2, 2018

HOW OUR TRADING DAY WENT: Friday was great for our group. CLICK HERE to watch Fridays recap from Ian!

02 Feb 2018 09:15 am
good morning. if this opens under 12.50 then it will be another gap down open and should make it back up to 12.50

02 Feb 2018 09:19 am
market finally coming apart like it looked like it should as soon as it became a mania, and parabolic run up to close at all-time highs on a Friday. Should be a volatile day

02 Feb 2018 09:27 am
not sure traders will be so anxious to jump in and buy this gap down open unless there are shorts covering on the emotional down open over 2802

02 Feb 2018 09:35 am
going to bounce with gusto from 2804-2802 and take out 28th 08 at least in order to have a low in place just for a little while at least, or else keep going down to or through 2797

02 Feb 2018 09:38 am
stopped under 2808 so far so still bearish down to support or lower

02 Feb 2018 09:40 am
98-97 area next

02 Feb 2018 09:44 am
pressure stays on holding under 22805.50-2806.50 down to 2798-2797 the last broken with some gusto/held

02 Feb 2018 09:47 am
attempting to hold 2802.58 area but should go through unless 2804 broken/held

02 Feb 2018 09:49 am
still need to get over 2804 with gusto or else 98-97 or lower still

02 Feb 2018 09:55 am
need a move over 2803 with gusto to get a turn around attempt. Gap down open and bigger breakdown could be ugly holding under 2802.50-2804 the rest of the day

02 Feb 2018 09:59 am
98-97 was reach but still bearish under 2802.50-2804, which needs broken above and then hold around the bottom of that zone and turn up again

02 Feb 2018 09:59 am
Econ data top of the hour

02 Feb 2018 10:03 am
major area and bigger breakdown area at the 93-91.50 and could be collapsing if broken and not able to go back up over 2800 today

02 Feb 2018 10:08 am
88-87 is an important area also down here and needs to go no further or else panic selling continue down to 82 or more. 95-96 a minor resistance but bigger picture need to get over 2802.50 at least

02 Feb 2018 10:11 am
could be some setups that you need to be quick on if it's like the bounce we just had that stalled out for 1 minute after touching 95.75 and then spiked down. Need to run up over 98 at a minimum on a bounce from down here and then stall or be rejecte

02 Feb 2018 10:17 am
need to keep going up through 98 otherwise come down 24 through 94 again

02 Feb 2018 10:22 am
94 was reached and small bounce after also failed and still needs to get over 98 and then only have a small pullback hold over 94

02 Feb 2018 10:25 am
97 bounce high so far, and need to bounce from 94-93 if a pullback before getting over 98

02 Feb 2018 10:32 am
the gap down open on Monday broke euphoric parabolic uptrend line, and gap down Friday has a chance to be a basic trend down day as long as it holds under 99 area at the moment

02 Feb 2018 10:38 am
if the next pullback and hold 95 then another pop-up can happen but needs to keep going up through 2802.50-2804 area without turning down afterwards

02 Feb 2018 10:44 am
MUST keep going to or through 2802.50 or else could come back towards 98 which could be pivotal area now and bearish breakdown if broken

02 Feb 2018 10:50 am
pullback from 2801.50 came down through 98 to 97 and popped up and needs to keep going up through 2802.50 on this bounce or else bounce high in place and one more leg down possible instead of ragged uptrend

02 Feb 2018 10:57 am
pullback from 2802 and 2802.50-2804 is the key resistance above to get above and hold and unless that happens the market is in a bigger picture bearish position and could take out 96 on this move or more

02 Feb 2018 11:04 am
96.50 pullback low so far but pressure is still on holding under 99, and if broken 2802.50-2804 could be tested but not broken

02 Feb 2018 11:04 am
heading down to or through 95 if this action continues and with uptrend channel line/wedge pattern broken

02 Feb 2018 11:17 am
bounce above 95.25 went almost straight up to 2800.75 and another failure under 2802.50 keeps this under pressure with bounces failing unless it's taken out and held

02 Feb 2018 11:20 am
market is in some trouble again and especially breaking down through 93-92 and not getting turn right back up. A lower low would be down around 88-87 and then 82 area below that big area must hold

02 Feb 2018 11:27 am
if no bounce from the 93.50-92 area on this move over 96 that holds then could keep going to 88-87 and possibly down to the 83-82 area next if it happens to unravel again

02 Feb 2018 11:29 am
96 only poke above and could be on its way to take out the low and test 88-87 area if so and much lower if momentum picks up and not reverse instead

02 Feb 2018 11:35 am
pressure stays on down to 88-87 still unless there is a move back over 96.50 now that doesn't turn right back down

02 Feb 2018 11:39 am
so far reached 91.75 and just under 92 support and also there has not been a 5 minute close or open below 91.50, so unless 91.50 broken and held below could began another bounce and could be decent if 96.50 reached and only a small pullback turns up

02 Feb 2018 11:43 am
has to keep going over 96.50 and then only a small pullback no more than 94-93.50 area and turn up

02 Feb 2018 11:46 am
88-87 on this move with the rejection of 96.50 and lower pullback low holding under 91.50 needed to put a nail and this coffin for a while

02 Feb 2018 11:47 am
need to have a 5 minute close under 91.50 on this move in order to have a breakdown that might have a chance of breaking the 89.25 low and going to 88-87

02 Feb 2018 11:52 am
best to just short bounces were be short right now as long as 95.50-96.50 is not taken out and held on a run up of some sort, and if that happens then the major area for today at 2802.50. Bounce high this morning is at 2802.00

02 Feb 2018 11:56 am
update in about 10 minutes roughly. 96.50 and then 2802.50-2804 resistance to take out and hold. A 5 minutes close under 91.50 needed to extend the downside to the 88-87 or lower

02 Feb 2018 12:06 pm
so far reached phase 7-86 minor support and with this being basically a trend down move after failing at 2802 on the first bounce it could continue towards 83-82 if it cannot get back over 91.50-92.50 at least and stick. That area first bounce resist

02 Feb 2018 12:10 pm
continue to stay short or sell bounces as the ES will need to go through the 95.50-96.50 area and hold in order to put a small change in the downside. 83-82 and possibly 78 or even 72 which could be VERY important if reached

02 Feb 2018 12:19 pm
rebound from 1 tick under the 88-87 support just went through 91.50, and could pullback but most important area (which I should only give with this good volatility) and needs to keep going and take out 95-96 and not get turned right back down again.

02 Feb 2018 12:23 pm
I would need to be a way to day until around 1:20 p.m. with a couple of phone calls mixed in there. as I have been this week especially, if I am free and an update should be put out I will do so ASAP, but today might be hard to be timely.

02 Feb 2018 01:04 pm
the ES breaking down again and can make a lower low and more if this action continues

02 Feb 2018 01:18 pm
currently a double bottom at 88-87, prior high area of a trading range for a while and broken on the way up, and it another feeble bounce and breaks it opens the door for a move to 83-82 and possibly a major area around 78 before the end of the day

02 Feb 2018 01:31 pm
83-82 target/support reached and could be a low for a little bit but stays under pressure especially holding under 90.50 and then would have a chance to test or break 96-97 area

02 Feb 2018 01:38 pm
88.75 sold on several little pop-ups that could not stick so could come back towards the low again unless broken above and not turn right back down again at the moment

02 Feb 2018 01:52 pm
audio prob but as I have been saying sell or stay shrt 88.75 R

02 Feb 2018 02:01 pm
Another spike up to 84.50 this time quickly turned down and pressures on under that level to another new low most likely

02 Feb 2018 02:04 pm
78- 77

02 Feb 2018 02:15 pm
under 78 77 getting ugly , or a beauty -must clear 85.60 to try stopping bleeding

02 Feb 2018 02:22 pm
Fingers crossed that my audio is fixed now. There was just a Spike down to the 72.50 level, and formerly bottom of a trading range in going into the 58 area which is big time major if this continues

02 Feb 2018 02:33 pm
if you have been shorting all day like I have been saying, we are in the timeframe for a turn and have done so from just what was an important support on the way up. Could have low in but

02 Feb 2018 02:36 pm
if not then with the gap down open being a trend day, we could see the low made very close to the 4 PM close. appears it needs a move above 80.50 without turning down and dynamics should change it so

02 Feb 2018 02:42 pm
another bounce that has failed so far and from under just 78 prior important support, and so far pullback has not made a lower low so could make another level grown-up but fail at or below 78 to go back towards lows

02 Feb 2018 02:48 pm
yet another failed bounce stopping at 77 and it just continues holding under the 77-78 zone in the last hour it keeps pressure on to go under the 70.25 low to or through 66.50 major level below

02 Feb 2018 02:50 pm
should continue to be sold on bounces into the close unless there is a strong bounce that gets the ES back above 77-78 and holds up there.

02 Feb 2018 02:52 pm
going to have our first 3% correction and over 2 years – after a 1% down day on Monday. And 2 gap down days this week. Not going to bounce back like "normal"

02 Feb 2018 02:54 pm
appears it could be headed down to the 66.50 area on a break under 70 real soon

02 Feb 2018 02:56 pm
needs to do more than just touch 70 and turn up. Has to break 70 to get going down towards 66.60, unless 73.50 is broken above it can still breakdown

02 Feb 2018 03:04 pm
this could keep on going down to the 58 area and really in the day ugly and in poor shape with big unwinding of the January parabolic run up

02 Feb 2018 03:06 pm
should still be short the market or selling bounces as this can last into the last few minutes of trading in this kind of action continues on this trend day

02 Feb 2018 03:07 pm
62.50 and only 4 points away from major support now at the 58.50-57.50 area

02 Feb 2018 03:09 pm
down more than 630 points on the Dow and 60 on the ES so far, more points than the 1987 crash but nowhere near the 23% move.right now the straight down move would need to get back over 70 area minimum

02 Feb 2018 03:13 pm
attempting to turn around from 61.50 at 3:05 PM, to make the "normal" end of day rally attempt. Might be able to stick as a low this time with it selling off so far, if not then ugly if 58 area taken out at the close

02 Feb 2018 03:15 pm
another failed bounce attempt but should not come back down to or through the low this time, only have a small pullback and then turned back up. Could be shorts covering locking in profits running this up

02 Feb 2018 03:21 pm
12.75 points is the biggest bounce of the day up to this point and 74.25 needs taken out to break that symmetry and 77.25 needs taken out if going to go through 77-78 and avoid more trouble early Monday possibly. Has to break under 73.50-72.50 and no

02 Feb 2018 03:25 pm
73 held so far and unless this comes under 72 it should be able to try one more little run up before it comes back down again

02 Feb 2018 03:26 pm
77-78 should hold this down, but if not then could get some more shorts covering instead of reshorting the bounce

02 Feb 2018 03:31 pm
12.25 point bounce keeping the bounce symmetry intact and still a chance of finishing the day at or near the low if the ES is unable to get over that bounce high at 73.75 and not get turned down again

02 Feb 2018 03:34 pm
in the last 30 minutes of this unwinding from the parabolic run up into last Friday, there is still a good chance that ES could head back to its low at the close if 74 is not taken out. Should stop several points under if coming back down again most

02 Feb 2018 03:36 pm
hope that you had a good day and that you have a great weekend! Look for an update on Sunday, then I will meet you here on Monday morning. until then... Take care!

 

INTRADAY LOG FOR THURSDAY - FEBRUARY 1, 2018

01 Feb 2018 09:01 am
Good morning. The market has been alternating between higher and lower opensand unless the ES gets over 20.50 and then holds 19.50 it could test/break 13-12 major area

01 Feb 2018 09:04 am
it looks like 13-12 should hold. If broken by much then 2804-2802 must hold or sizable selloff could be under way

01 Feb 2018 09:17 am
the ES could could try a run up of some sort after the lower open but it's going to be bearish unless 19.50-20.50 broken/held. at least.

01 Feb 2018 09:18 am
I will update shortly after the open and then beat you online around 1:20-1:25-ish this morning

01 Feb 2018 09:29 am
should hold 12 to stay out of trouble

01 Feb 2018 09:34 am
lower open immediately bought at 14.50 and still can come back down holding under 20.50 area and would need to hold 16.50 or else could test or break 14.50 below on the open

01 Feb 2018 09:36 am
took out 20.50 needs to hold 19 if going to have a strong run up and not back down towards 16.50 or 14.50

01 Feb 2018 09:41 am
pullback needs to hold 19.50 area or else go back down to or through 16.50 and maybe to or through 14.50

01 Feb 2018 09:44 am
early high could be in place but is broken then the 24.50-25 area needs to be taken out to have a shot at moving up towards 28-29. 16.50 then 14.50 needs held before taking out 13-12

01 Feb 2018 09:45 am
I will meet you online at around 10:20-10:25

01 Feb 2018 09:54 am
16.50-16 key to hold now, 24.75 above

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

01 Feb 2018 11:43 am
the ES broke out above its choppy range trading taking out 25.50 with some gusto and should test or break 32.50-33.50 and not go back under 25-24 the rest of the day to stay out of trouble

01 Feb 2018 12:01 pm
with the ES going right through 33.50 after a brief 2.25 point pullback, this move can continue going up strongly as long as it holds over 33.50 and not come back down through that with any momentum –

01 Feb 2018 12:09 pm
stalling out and need to get back over 34.55 and 35 and stick soon or else could begin pullback to/through 33 area

01 Feb 2018 12:16 pm
32.25 was reached and needs to hold 32 if this is going to avoid a pullback towards the 29-28.50 area, or have bounces fail for a while.

01 Feb 2018 12:22 pm
with another hold and bounce from 32.25 the ES needs to continue holding 32 in order to try for the 39.50-40.50 area sometime today, but will need to go in a trend up mode with tiny pullbacks or that won't happen. Minor R @37.25

01 Feb 2018 12:25 pm
I need to be away until around 1:22 day but will update when I am free. with the rejection of 35.75, needs to turn up soon otherwise breaking 32 should mean bounces fail and head back towards 28, may be to slice through 25.50-25 prior resistance

01 Feb 2018 12:32 pm
quick reversal from 32 so far but another run up should fail under the high, at around 34.50-35 but if not then 37 area could be a pullback area

01 Feb 2018 12:56 pm
this could break down any time and bounces should be sold into from here after stalling out attempting to hold 32 four times so far

01 Feb 2018 01:01 pm
if 32 holds and 34.50 is broken then the pattern could turned bullish instead of bearish at the moment and mean a move to or through the high

01 Feb 2018 01:05 pm
if 32 is broken look for a move down to the 28-27 area but if it holds and 35.75 high is broken can keep going to 37 area next with a shot at the 39.50-40.50 area sometime today

01 Feb 2018 01:10 pm
36.75 was reach and just missed the 37 minor resistance and could be a top if it doesn't bounce from 35-34 at worst

01 Feb 2018 01:11 pm
next update and about 10 minutes or so if needed. Holding 35 gives us a shot at a token higher high and then a pullback if it does get to 37 on the way towards 39.50-40.50 possibly

01 Feb 2018 01:29 pm
with the ES holding at the 35-34 area and turning back up it needs to take out the high or else make a double top and bounces begin to fail under 37 updated resistance

01 Feb 2018 01:31 pm
37 is a minor area on the charts and 38% retracement, and coincidently the 39.75 pounds high yesterday was also 38% retracement when 18.50 was the low

01 Feb 2018 01:32 pm
should be a top in place now and bounces bounces should fail as the ES

01 Feb 2018 01:34 pm
33-32 should be downside target and probably lower if a feeble bounce from above that also fails

01 Feb 2018 01:41 pm
so far hasso far has made it back down to 32.50 and should break and start a pullback about 10 points off of the high

01 Feb 2018 01:46 pm
unless 33-34 is taken out there is a chancethe ES could keep on coming down to the 26-25 area

01 Feb 2018 01:52 pm
28.50 below on this move so far but still can make another push lower if this bounce does not get back over 31.50-32.50 area without turning right back down from there or lower. If 32.50 broken, would need to keep going over 35.50 and stick

01 Feb 2018 01:55 pm
failure still headed towards 26.50-25.50 which would be key support

01 Feb 2018 01:59 pm
just got a lower 10 point drop from the top reaching the 25 prior resistance and breakout area from this morning, and needs to hold their and bounced back over 9 and especially 18 EMA on 1 minute chart to break dynamic resistance on this move

01 Feb 2018 02:16 pm
with the ES taking out 25 area the 22 area will need to hold now or else the market could keep going down to the 20.50-19.50 area again

01 Feb 2018 02:23 pm
ES just cut right through 20.50-19.50 and almost to the 17-16 area where there should be a bounce attempt of some sort to avoid a freefall to yesterdays lows

01 Feb 2018 02:29 pm
off of the double top reversal the ES came back 20 of its 22.25 point again from the early low, and with the market always coming back lately this could be the start of something that needs to hold 18.50 at worst and keep on going up through at least

01 Feb 2018 02:38 pm
on its way to 26.75 possibly and if it gets there it should hold around 25-24 on a dip, not go back under 20.50-19.50 without a quick reversal again

01 Feb 2018 02:46 pm
if the ES can continue holding 22.50 and get over 26 then another dip should also be bought and keep going to or through 28 and if taken out then a shot at the 32-33 area again – strong resistance on a bounce if reached

01 Feb 2018 02:59 pm
steady move higher off of the Spike reversal from 16.75 and will stay in this uptrend as long as there is not a reversal back under 25 that is not immediately turned up again. Could be trying for the 32-33 area again

01 Feb 2018 03:06 pm
22.25 points run up and then a 20 point drop in now a 50% retracement bounce 11.25 points and turning down and needs to bounce from 25-24 area or else could have a bit more of a breakdown then bounce

01 Feb 2018 03:08 pm
bounce off of 24.25 keeps us from a potential break lower and should start another leg up as long as that 24.25 pullback low holds

01 Feb 2018 03:11 pm
I will need to go about 10-15 minutes earlier than normal today, and right now the market will stay strong with another good bounce from a sharp drop as usual of late

01 Feb 2018 03:12 pm
if there happens to be a break below the 24-23.50 area instead, and then hold under the 227-28 area after that, then reversal back to the downside to finished the day

01 Feb 2018 03:21 pm
ES made a little double top and rolled over and reached 22.75 and looks like 20.50 area should not be broken otherwise there could be further pullback rather than a bounce attempt of some sort

01 Feb 2018 03:26 pm
the ES came down to 21.50 so far and needs to hold 20.50-19.50 at the end of the day or else could go back down and take out 16.50 and maybe the 14.50 low

01 Feb 2018 03:28 pm
ES would need to get back over 24.50 and stick had a minimum in order to avoid the potential breakdown.

01 Feb 2018 03:28 pm
have a great rest of the day. I'll meet you here in the morning. Please check out tonight's update also. Take care

 

INTRADAY LOG FOR WEDNESDAY - JANUARY 31, 2018

HOW OUR TRADING DAY WENT: Today we had a high and shorting opportunity at the 2839.50-2840.50 major resistance and a low 2 ticks over the 2812.50-2011.50 major support, with some setups in between. CLICK HERE for a quick video.

31 Jan 2018 09:10 am
that ES just back away again from 31.75 and has to take out 32 and be able to stick if it's going to finish strongly, not come back down to or through the 28 area which should be a key end of the day

31 Jan 2018 09:14 am
good morning. today were going to have a big up opening and shouldn't go any further than 31.50 or else could see bounces not sticking.

31 Jan 2018 09:20 am
we will be having a live session today starting around 10:25 or thereabouts. I think after the carnage so far this week buyers will be so eager unless a decent pullback or take out 39.50-40.50 and hold

31 Jan 2018 09:27 am
with indicators at oversold extremes this could still have some pullback but shouldn't get sold off hard under normal conditions

31 Jan 2018 09:32 am
needs to hold over 32.50 bottom of the first resistance and that break and hold under that area or else 30-29 before bounce. Taking out 39.50-40.50 and holding needed and could be a turn around there is a stall or rejection

31 Jan 2018 09:36 am
runup from 32.50-33.50 stopping under 39.50 and should not go under 35 area now or else a bounce that follows should have trouble holding unless going to keep going straight up

31 Jan 2018 09:40 am
39.50-40.50 reached and backing away and needs to bounce from 37 at worst or else bigger pullback to or through 35 and could make this an early top or possibly a high for the day

31 Jan 2018 09:45 am
barely took out 37 so far but still under pressure as long as 39.50-40.50 is not taken out and able to stick

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

31 Jan 2018 12:07 pm
the ES has been sold on every bounce attempt so far after turning down from the 39.75 major resistance to the 24.75 level and 1 tick above yesterday's close so far, needs to take out 29.50 or pressure still on with bounces being sold

31 Jan 2018 12:11 pm
a move under the low should go down to either test or break through the 22 area which is major and especially if broken and held under 23-24 at most after that

31 Jan 2018 12:36 pm
that ES was able to make a higher low at 25.75 and turn up and just took out 29.50 and should go for the 32.50 area or a little lower if there is not a failure at the 30-30.50 area here and take out 28

31 Jan 2018 12:39 pm
I will be in and out until around 1:20 but will send updates when I am free and if necessary. The trend of move into the Fed has turned into two-sided action, and now 28.50-27.50 appears to be Between 30 and 25

31 Jan 2018 01:19 pm
the ES is still holding under the 30-30.50 area about 45 minutes until the Fed release and breaking back under 28.50-27.50 can open the door to test or break 25.25 low of the day but another pop up above 30.50 has a shot at 32.50-33.50 again

31 Jan 2018 01:28 pm
breakout over 30.50 took the ES up to 32.25 so far and needs to hold above 29.50-29.25 at the lowest it looks for a shot of getting up to or through 32.50-33.50, otherwise might be a bounce high before the Fed release

31 Jan 2018 01:35 pm
30.50-30 area could become pivotal before the Fed release, and 32.50-33.50 should be broken through if that is going to hold as a low area pre-Fed release

31 Jan 2018 01:39 pm
with the high being made at a major resistance for today at 39.50-40.50, that would need to be broken and held just to get that ES into a neutral territory bigger picture. Bounces should fail unless broken/held now

31 Jan 2018 01:40 pm
and first needs to get over 32.50-33.50/hold. Stays bearish unless that happens in a socially breaking/holding under 30.50-30 area

31 Jan 2018 01:49 pm
a hold under 30.75 area keeps the pressure on right now to continue moving down to or through 28.50 area which should be important or else a shot at going to the low area again or just above to avoid breakdown before Fed release

31 Jan 2018 01:56 pm
after the Fed release the 32.50-33.50 area could be pivotal and needs broken through with gusto for a chance to test 39.50-40.50 and likely would be sold up there again for a poll but of some sort, 37.50 at least would need to hold

31 Jan 2018 01:59 pm
28.50-27.50 key support area that must hold or else continue down to or through flow of the day

31 Jan 2018 02:02 pm
run up through 33.50 needs to hold 32.50-32 if going to have a chance at getting all the way up to the 39.50-40.50 resistance and high area again

31 Jan 2018 02:04 pm
reversal from 34.50 down to 32 and another run up will be sold at or below 39.50-40.50. Really shouldn't get back up there but instead break down to 28 instead

31 Jan 2018 02:08 pm
held at a higher low so far at 26.75 and unless the ES gets over the 33.50 level and then holds at 32.50 and turns up after that, then the market won't have enough momentum and should come back and make lower low

31 Jan 2018 02:12 pm
spiked up, dropped fast, feeble rebound and should come back down to or through the low now or else a nonevent and range bound

31 Jan 2018 02:15 pm
31.25 bounce high and still need to take out 32.50-33.50 and stick otherwise continue down to or through 23-22 major area

31 Jan 2018 02:15 pm
maybe not that far as it must take out 25-24.50 area first or else remains range bound

31 Jan 2018 02:17 pm
but if broken which looks doable then the 23-22 area could come into play and must have a strong bounce from around that area or else 18.50 then 17

31 Jan 2018 02:23 pm
if there is a move down through 25 not turn right back up then 23-22 could get a test and need to hold their and turn up otherwise yesterday's 18.50 could be in this move lower here

31 Jan 2018 02:24 pm
23.25 reached so far – it will stay bearish unless a bounce takes out 26.50-27.50 and not turn right back down

31 Jan 2018 02:28 pm
a bounce from 21 and pressure will stay on unless there is a bounce back above 25 area that can hold instead of being turned down again

31 Jan 2018 02:31 pm
bounce from double bottom attempt at 21.25 but needs to get over 24.50-25.50 and be able to hold on a small dip and turn up again to attempt a turn around and avoid 18.50 and possibly 17 or lower if 18.50 on able to hold if reached

31 Jan 2018 02:36 pm
continuing to hold 21.75-21.00 area but not get over 24.25 and needs to take out 24.50-25.50 and then hold 24.50 on a dip afterwards or else no turn around and headed towards 18.50 possibly 17 which could open little air pocket if not quickly turned

31 Jan 2018 02:40 pm
still must gets above 24.50 area and not turn down from there. If another lower low, then has to hold 18-17 or else further breakdown

31 Jan 2018 02:45 pm
bounce off of 19.75 so far only made it to 23.50 and needs to at least get over 24.50 otherwise still acting poorly and could see 18.50 or lower on this

31 Jan 2018 02:47 pm
23.50-24.50 needs taken out otherwise taking out 17 could mean a bigger breakdown underway with a shot at the 12.50-11.50 zone next

31 Jan 2018 02:50 pm
made it so far to the 15.50 level and 12.50-11.50 can be reached and must bounce from there back over 17-18 or else a collapse end of the day possibly going down towards 2804-2802.50

31 Jan 2018 02:53 pm
2813 reached and so far barely holding on to the 12.50-11.50 zone, and should hold and are a decent bounce back to at least the 18.50-19.50 area, or not out of trouble and can continue its trend down move

31 Jan 2018 03:00 pm
21.50 point drop from the pop-up to 34.50 on the Fed release down to 13 so far and 2 ticks above the next major zone for today. That area SHOULD hold, and with the reversal starting at 2:50 PM probably needs to get back over 20 area, and not get turn

31 Jan 2018 03:06 pm
ES dropped 28.75 points from its top and 26.75 from today's top so far, this move could go down to 11 and then would need an immediate turnaround otherwise holding under 19.75 new pivotal area needs broken to avoid consistent downside

31 Jan 2018 03:09 pm
attempting to hold 13 and turn it into a double bottom but would need a bounce back above 19.75 in order to be out of trouble for today anyhow

31 Jan 2018 03:14 pm
double bottom just above support for a potential bottom if a move back over 19.75 sticks. If a retest for a third time down there, could be a token lower low around 12.50-11.50 but would need to still get back over 19.75 area with some gusto

31 Jan 2018 03:20 pm
another dip bought again this time at 14 so holding the 14-13 area can keep the market from further damage today and going back up through 20 and not turning down could open the door to test 24-25

31 Jan 2018 03:21 pm
if the ES cannot get over 20 and stick, then another push lower could occur but likely not break through the low and hold.

31 Jan 2018 03:25 pm
still holding on dips and almost up to the 19.75 level and going over 20 needs to stick or just a tiny pullback for a possible run towards 24-25, instead of failing and coming back towards the lows

31 Jan 2018 03:35 pm
almost to the 24.50-25.25 area which is about 50% retracement and also where breakdown accelerated and should not go under 20.50-19.50 the remainder of the day to avoid another late drop.

31 Jan 2018 03:37 pm
important low short-term, major area for the day below the 23-22 zone. Have a great rest of the day! I will catch you here tomorrow before the open. Take care!

 

INTRADAY LOG FOR TUESDAY - JANUARY 30, 2018

30 Jan 2018 09:12 am
good morning. I should have given more support the numbers because I thought this was going to happen. Holding under 41.50 leaves the gap unfilled. 30.75 area major now today

30 Jan 2018 09:18 am
with that ES about to open under last listed support, and possibility of it being a bad day I'm going to need to cancel today's live session so those are not able to attend still get some guidance

30 Jan 2018 09:21 am
my apologies and will update here today. Current downtrend resistance is at 34.50 but bounces should have a hard time holding with the ES breaking it parabolic uptrend line on daily chart

30 Jan 2018 09:25 am
31 low pre-open low at 31-31.50 is last week's low area and then 28-27 area and then 23-22 major

30 Jan 2018 09:28 am
will need to at least break and hold 34.50 and hold 34 in order to break steady downtrend on one minute chart and also last listed support

30 Jan 2018 09:34 am
need to hold 34 area for a tiny bit lower and turned up and take out 40-41 in order to attempt a decent bounce and not get turned right back down

30 Jan 2018 09:38 am
backing away from under 40-41 and needs to bounce from 37 were could go down towards 35 or more

30 Jan 2018 09:39 am
still can poke down there holding under 28

30 Jan 2018 09:43 am
38 area would need broken through and held to get a move above 40-41 which is needed to attempt a bounce back of some sort and avoid potential test of 32 or lower to the low or new low

30 Jan 2018 09:46 am
should make a token lower level and then bounce but if not then breakdown to or through 27-26

30 Jan 2018 09:49 am
has to get over 31

30 Jan 2018 09:52 am
27-26 is a zone from earlier in the month and must not be broken and take out 32.50 and hold to attempt getting out of trouble, but breaking through that support could mean 23-20

30 Jan 2018 09:56 am
sold needs to get above 32 area to get a low in place and not just a feeble bounce that fails under that level

30 Jan 2018 09:58 am
Econ data initially sold and also a change if it holds under 30.75 low from last week

30 Jan 2018 10:00 am
it stays under pressure as long as it's not above 30.50

30 Jan 2018 10:05 am
pressure stays on holding under 28 now down to the 23-22 area next and under that 18-17 minor

30 Jan 2018 10:05 am
right through 22 and stays under pressure holding under 24 now

30 Jan 2018 10:06 am
this is the parabolic move finally unwinding

30 Jan 2018 10:07 am
19.25 low so far and 18-17 key area next that should be broken to go down to the 14-12.50 area next

30 Jan 2018 10:09 am
has to bounce from 18.50-17.50 area and takes out 24-25 in order to have a turn around attempt and possibly low at that 18-17 support

30 Jan 2018 10:17 am
24.75 bounce high and needs to get over 24.50 and hold in order to attempt a move over 29 area

30 Jan 2018 10:19 am
if there is a lower low then the 17 area needs to hold otherwise air pocket down to 15 and maybe take out 2810

30 Jan 2018 10:22 am
double bottom/123 bottom of sorts and the upside should take out 24.50 but will need to keep on going through 28-29 and then hold over 24.50-24 afterwards

30 Jan 2018 10:27 am
24.50 held so far and could be a pivotal area down here to hold above to avoid potential move back towards the lows, likely higher low, but should keep going above 29 and especially 31 and stick

30 Jan 2018 10:29 am
NOTE: no live session today due to market action without support numbers to trade below 34 last listed below last night. My apologies. –

30 Jan 2018 10:33 am
should hold over 25-24.50 area on a pullback if there is one that goes out our again. 31 broken through and now need to hold 30-29 area, 25-24.50 should be broken/held again or low would be in jeopardy

30 Jan 2018 10:38 am
unless this is going to be a high of some sort at 34 that ES should turned up from the 31-30 area and then take out 34 to continue pushing higher from here

30 Jan 2018 10:43 am
holding and 30 so far but so under some pressure under the level double top at 33.75-34. Could still see 28-27

30 Jan 2018 10:46 am
28-27 needs held or else 24.50-24 pivotal area could be next

30 Jan 2018 10:49 am
27.75 pullback low so far and can take that out holding under 30 area and not touching or poking above and turning right back down

30 Jan 2018 10:56 am
bounce came from 26.75 and needs to keep going up through the 34 area if going to have a strong bounced back to day

30 Jan 2018 10:59 am
token higher high can be sold but not go too far if this is going to try getting back to or through 40-41 area

30 Jan 2018 11:08 am
gap down open and bounce high at 37 so far nowhere near filling the gap from yesterday, on the ES and Dow there is a lot of work to do to get back up to yesterday's lows, and may not given parabolic break. Must bounce from 30 area

30 Jan 2018 11:10 am
30 held and now if there happens to be another move strong enough to take out 37 bounce high then 39.50 high of the day session should be tested/broken with 41 resistance just above

30 Jan 2018 11:11 am
a failure under 37 would need to hold around 34-33 or else could go back down to or through 30 area even if a small bounce after break 33

30 Jan 2018 11:16 am
came down and reached 30.75 updated support area and popped back up again, and needs to make a higher high or else could begin to break down again by going back down to or through 30.50 area

30 Jan 2018 11:20 am
pressure on holding under 34.50-35 at the moment

30 Jan 2018 11:21 am
but still needs to break 32 again if going to have another push to the downside

30 Jan 2018 11:22 am
34.25 updated resistance sold and should be breaking down further as bounces fail under 37 now

30 Jan 2018 11:23 am
should fail under 34 area at the highest at the moment and keep coming down through 30.75 on a fourth test in order to get bigger breakdown

30 Jan 2018 11:30 am
should keep going down to test or break the last swing low area a little below at 26.75 as long as 32 area not broken on a bounce attempt

30 Jan 2018 11:35 am
just reached 27 and just 1 tick above the 26.75 prior swing low but needs to keep going back above 32 otherwise another leg down

30 Jan 2018 11:37 am
should get through 32 in the next 2-3 minutes most if it's going to and not roll over again to a test/break under 27

30 Jan 2018 11:39 am
stop right at 32 so and go back to or through 27 if this can cut through 28.50 without turning right back up with some gusto

30 Jan 2018 11:40 am
fast action today and considering just trying to point to what bigger trend is right now and just look for bounces to sell given this could be a rare 1% down day with some more weakness. so, bounces shorts at or under 32 right now

30 Jan 2018 11:41 am
and needs a break under 27-26.50 if the downside going to break and then 24.50-24 area would be a key

30 Jan 2018 11:45 am
made it through the 32 bounce high and should keep going towards 36-37 Another small pullback can get turned back up from around 32 again

30 Jan 2018 11:48 am
ES has been going in a choppy sideways action along with the Dow cash and getting over 26,213-215 and sticking is needed on the Dow and 36.50-37.50 on the ES, or back to 26,135-133 and 27.50-26.50 on ES

30 Jan 2018 11:49 am
going to need to bounce from around 30 on this move or else risk a breakdown to the bottom of 27-26.50

30 Jan 2018 11:52 am
if this happens to break down towards the low of the day at 18.50 then 17 would be major area to hold in order to avoid bigger drop under 2810 most likely

30 Jan 2018 11:56 am
would be recommending a swing trade for a move back to or through 18.50-17 area if not for State of the Union address and then a Fed decision on interest rates with it being Jannette Yellen last hurrah tomorrow, could make for very important day agai

30 Jan 2018 11:58 am
third time to the 27.50-26.75 area and if no good bounce then could continue down through that area towards 24 next and maybe the low

30 Jan 2018 12:06 pm
if there is a break under 26 that holds then the door is open for a retest of 18.50 low, and would need to hold 17 area and turn up or else bigger trouble down to either 12 or 2808 area

30 Jan 2018 12:07 pm
also keep an eye on 26,087 on the Dow cash as if it breaks that area it's little double bottom breaks also and could help push that ES down if the Dow has followed through on a break of its low

30 Jan 2018 12:10 pm
the ES just tested the 24.50-24 updated support and is attempting a bounce that needs to get back over 29.50-30.50 and stay up there in order to ATTEMPT making a noontime low and decent bounce. Breaking 24 could mean 18.50-17 area next

30 Jan 2018 12:14 pm
26,093-26,087 area on the Dow cash equivalent to the 24.50-24 area that should be taken out if this holds under 29.50-30.50 new bounce resistance that needs cleared/held

30 Jan 2018 12:22 pm
looks like ES has to retrace more than half of the drop from 34.50 down to 24.75 just to get into neutral in that range which is 29.50 area and still holding under 29.50-30.50 should keep pressure on – 25-24 same as Dow double bottom at 092-087

30 Jan 2018 12:24 pm
I will be away until around 1:15-1:20 but will update when I am free ASAP. Right now two-sided action and needs to take out 29.50-30.50 and stick for a shot at 34 and possibly 37. If failure then back to 26 at least

30 Jan 2018 12:47 pm
if bounces cannot get back above 29.50 on the ES and 6948 on the NQ then both are in some trouble this afternoon and heading down to test or break the low on the ES next as the Dow has broken its low

30 Jan 2018 12:49 pm
only way this can have any kind of rally now would be in the last 90 minutes or maybe last 45 minutes, otherwise still going to drift lower would small bounces failing.

30 Jan 2018 12:52 pm
if by chance you happen to buy the VXX back when I was talking about it, and still happened to be holding, you should cover half of your position and hold on for it to test 31.50 area if the VIX and built up over 15 and keep going to its 15.42 high.

30 Jan 2018 01:04 pm
ES would need to have to take out 26.50-27.50 area, and with enough gusto that it can hold on a dip after that. Otherwise, ugly market for longs and on the way to or through 18.50-17 zone

30 Jan 2018 01:14 pm
it looks like a pullback low could be in place at 20.50, along with the 20.00 low at 10:25 and 18.50 low of the day. So should hold that area around 20.50-18.50 now,

30 Jan 2018 01:15 pm
if it goes back under that 2 point zone then a bad day and not the "normal" bounce it has always gotten before parabolic move until possibly last hour some time and bounces keep failing

30 Jan 2018 01:22 pm
a bounce needs to get over 26.50 at a minimum to attempt any out of trouble and avoid potential retest or break of 20.50 18.50 area,

30 Jan 2018 01:30 pm
double bottom with a double bottom right now still need to avoid a break under 20.50-20 area without getting turned right back up from 18.50 or higher if it is broken. Bigger breakdown/trend down day taking out 20.50-18.50, and then 17 major just und

30 Jan 2018 01:32 pm
all averages currently down 1% for the day, and I think we only had one of them last year, and not more than a 3% correction all year if memory serving. Closing down here will do that. A good bounce from this support needed to avoid that

30 Jan 2018 01:37 pm
all of these pop-ups have been sold into today, but this may have the best chance of sticking with it making a double bottom at 20.50 @1:07 and 1:25, and 20.00 at 10:20 AM. Should not go under that the rest of the day

30 Jan 2018 01:40 pm
the market has been able to rebound from every decent selloff it has had for more than a year now and this needs to be the start of one, take out 25.50-26.50 at a minimum if knowing to go much higher to 29.50-30.50 area

30 Jan 2018 01:45 pm
today's lows at 20.50-18.50 on the ES and 6906-6903 on the NQ, along with the 26,028 level on the Dow cash, all should be lows for the day and if not, market could close poorly instead of good rallied back as "normal"

30 Jan 2018 01:47 pm
should hold 25-24 area at worst now and turned up to keep this going up to or through 30 area instead of reversal attempt

30 Jan 2018 01:55 pm
uptrend stays intact as long as a hold over 27.50 area now and should keep pushing higher unless there is a break under 27.50-27 that is turn right back up

30 Jan 2018 02:00 pm
today's internals are very poor again, so my internal gauges reaching at across-the-board extremes. Along with the VIX being very high. Market acts poorly if this bounce also fails at 29.50-30.50 and set up going through after small pullback

30 Jan 2018 02:05 pm
we will see how this finishes today but if internals are this bad around the close and the VIX dropped some, fumes in the air for a good rebound today "front running" the indicators. Anyhow, right now uptrend still intact unless a break under 28 at

30 Jan 2018 02:08 pm
that's going to be a cop and especially breaking 28.50-28 on a dip

30 Jan 2018 02:09 pm
still poor action by not getting about 30 and another pop-up should fail at or below 30.50 on this bounce if it's going to begin to roll over from up here

30 Jan 2018 02:13 pm
bounce off of 27.25 and doesn't break down in less there is a failure to get over 30.50 and hold 27 again on a pullback

30 Jan 2018 02:18 pm
with this rally starting around 1:30, it might have started to soon. The ES just reached 32.25 and the 60 EMA also and backed away, making the 32 area strong resistance to get through to avoid another decent drop this afternoon

30 Jan 2018 02:30 pm
if this comes back down through the 26-25 area then it could be breaking down towards the low again. A chance for one more run up if this gets back over 29 and sticks, it's vulnerable for more downside otherwise

30 Jan 2018 02:36 pm
in 2 days the ES dropped 56.75 points (so far) and the Dow 518 points as today's gap down open broke the parabolic uptrend line and it looks like this momentum will be hard to get turned around no matter what happens tomorrow. Lots of resistance abo

30 Jan 2018 02:41 pm
only get a reversal attempt if 25.50-26.50 is broken instead of being rejected and staying in the downtrend

30 Jan 2018 02:42 pm
headed for the 20.50-18.50 area where it must hold or else take out 17 and see if there is a reversal or air pocket drop from that area

30 Jan 2018 02:52 pm
a feeble bounce failed after a 2:40 PM and will stay under pressure to test or break the low 24.50 area now, could be pivotal at the end of the day and bearish below here

30 Jan 2018 02:57 pm
another reversal from 22 this time and now 22-20.50 must hold in the last hour to avoid bigger breakdown that could take out the lows if this bounce fails to get above 27.50-28 soon

30 Jan 2018 02:59 pm
selling pressure still holding on with bouts failing at the 26.50 updated resistance so far. Still could break the lows unless that 26.50 broken then held

30 Jan 2018 03:07 pm
still holding under 26.50 will keep pressure on for a breakdown in the last hour

30 Jan 2018 03:09 pm
low was made very late in the day yesterday and with the double/triple bottom at 20.50-18.50 will have a chance of being broken if 26.50 area not broken above and then held after that

30 Jan 2018 03:20 pm
the ES should not go back down to the 22 area again at the end of the day or else there is a chance that it could break down and up day. A move back above the 28th area that can hold on a small pullback needed to attempt reaching 29.75 where the 60 E

30 Jan 2018 03:29 pm
made it over the 28 level to the 28.75 level and immediately turned back down but shouldn't come back down to or through the 22 level or else potential breakdown. Still needs to get above 60 EMA currently at 29.50 roughly and not get turned away agai

30 Jan 2018 03:31 pm
in the last 30 minutes the ES should try to push higher and make it back up to or through the 32 area to finish well. However a failure and drop from around 29 zone could mean a pullback to or through 26 area which is becoming pivotal today

30 Jan 2018 03:37 pm
with internal gauges at extremes and state of the union address tonight along with Fed tomorrow at 2 PM, today's lows are going to be very important in plenty of resistance to get through – but dips should hold end day now

30 Jan 2018 03:37 pm
have a great day. I'll meet you here in the morning and we will go online tomorrow. Look for the nightly update and then I'll meet you here in the morning. Take care!

30 Jan 2018 03:41 pm
that ES just back away again from 31.75 and has to take out 32 and be able to stick if it's going to finish strongly, not come back down to or through the 28 area which should be a key end of the day

 

INTRADAY LOG FOR MONDAY - JANUARY 29, 2018

HOW OUR TRADING DAY WENT: I fumbled around the old support turned new resistance, so here are the zones: 2867.00-2866.50, 2860.50-2859.50 and 2853-2852. The ES bottomed at 2851.50 in the final minutes today. CLICK HERE for a quick video recap!

29 Jan 2018 09:09 am
good morning. The ES should be headed towards 60 area and needs to hold around there are in some bigger trouble early

29 Jan 2018 09:29 am
large overnight ranges with the ES topping at 78.50 initial resistance and just bottomed 63.50, and bounce should be sold into at or below 68-69 at highest

29 Jan 2018 09:32 am
need to keep going up above at least 67.50-68.50 and stick at or above that 67 area or under pressure to the 63.54 more

29 Jan 2018 09:37 am
64.50-63.50 needs to continue holding and keep going up through 68 and hold over 67 area after that to have a low in place for a while, but still fail around 72 if it's going to have another pullback/sell off today

29 Jan 2018 09:44 am
need to hold 69-68 or else another pop-up after that likely to be sold. And 72.50 some resistance here just above that should be hard to get through

29 Jan 2018 09:46 am
if it does then 70 would need to hold after getting through 72.50 otherwise reversing.

29 Jan 2018 09:48 am
could be a top holding under 71.50-72.50 and then coming down under 69-68

29 Jan 2018 09:53 am
rolled over from a stall at 71 and 67 needs to hold otherwise break down to or through 64-63.50 area or more, should be important support this morning now if reached

29 Jan 2018 10:00 am
67 area will be pivotal now and another pullback from under 71-72 area would need to hold 67 area or continue down. a move over 71-72 still should have trouble holding or else could go up to 73.50 and possibly 75.25 Friday high next then

29 Jan 2018 10:02 am
could be another pop-up attempt but top should be in for a while otherwise would be a shot at 72 or higher but likely breaks through 63.50 and test 60.50-59.50

29 Jan 2018 10:05 am
a bounce should have a hard time getting over 67 and holding now

29 Jan 2018 10:07 am
64.25 the low on the open and pullback low to the upslope and 60 EMA for the first time and needs to continue holding or else bigger uptrend could be turning

29 Jan 2018 10:12 am
as to get back above 67.50 area and hold above 66 to get a try for the high area or a little bit below, otherwise breakdown to another lower low possible

29 Jan 2018 10:14 am
67 area still is going to be pivotal this morning it is looking like and unless broken through with some gusto the 63.50 area should be tested or broken through to the 60.50-59.50 area possible

29 Jan 2018 10:17 am
closing in on 60.50-59.50 and needs to hold that area or else market could be in some bigger trouble for today

29 Jan 2018 10:22 am
so far held 1 point over the 60.50-59.50 zone and could still test or break that area without a good bounce back above at least 64.25 and especially 67.50

29 Jan 2018 10:29 am
ES held 1 point above an important support area and needs take out 67 and then hold after a tiny pullback and turned up if going to get through 67. 60.50-59.50 major and must hold

29 Jan 2018 10:33 am
66.25 bounce high just 1 tick below 66.50-67 first support and would need to take that out and stick, or else pressure stays on to test or break down to 60.50-59.50 important support

29 Jan 2018 10:35 am
as long as 66.50-67 area is held below this can go down to or through 60-59.50 major uptrend support coming into the day and put more pressure on for a better down day and another bounce sold into

29 Jan 2018 10:38 am
like a magnet got pulled right down through 59.50 and could pop back up again but should hold under 62-63 to keep pressure on for a break and hold under that zone possible

29 Jan 2018 10:43 am
would need to get back over 61-61.54 else continue breakdown and taking out 55.50 good open this to go right to 53-52 area

29 Jan 2018 10:48 am
bounce from just above 55.50 needs to take out 60.50 area, and if so then hold at or over 59.50 and turn up or still had a lower

29 Jan 2018 10:50 am
has to avoid stalling out at 59.50-60.50 area and rolling over again or else test or break the low area possible

29 Jan 2018 10:59 am
15 point drop from bounce to 71 and stall and down 19.50 from Friday's all-time high and with this making it back to 61.25, must get over 61.50 and hold 60.50-60 at worst or not out of trouble yet

29 Jan 2018 11:03 am
need to come down through 56 and not have much of a bounce. Would put the market under Fridays 10:40 AM low and afternoon breakout area

29 Jan 2018 11:03 am
53-52 important support under the lows

29 Jan 2018 11:10 am
test of below only a feeble bounce attempt so far and still needs to get over 61.50 or else can head to target at the 53-52 area and it could go lower

29 Jan 2018 11:13 am
53-52 is not just a chart area but also 50% retrace of the rally from last Thursday's 30.75 low, should continue moving down there or more

29 Jan 2018 11:15 am
may not get down there now with this quick reversal up from 54.50, and a move over 58.50 likely means that another pullback will be bought

29 Jan 2018 11:26 am
with 61.50 mean reached in broken that ES broke the pattern of lower highs and lower lows and should pullback some but not go past 59-58.50, and not keep going through 57, or else the low could be tested or broken if that happens

29 Jan 2018 11:31 am
bounce off of 58.50 updated support and needs to keep going up through 62 on this move, otherwise go back down to or through 58.50-57.50

29 Jan 2018 11:39 am
the VIX made a couple decent moves today, the last coming down from an extreme at 13.21 and up 15%, and going under 12.66 could be bullish signal. ES should get over 62.75, 50% retrace of day session range

29 Jan 2018 11:42 am
62.75 would be 50% of today's range, my miscalculation and was missed by one tick so far and should be hard to get over and stick or else would have a chance to get back to the 66-67 pivotal area but doubt that unless that happens in the afternoon

29 Jan 2018 11:45 am
another quick and strong reversal up from 59.25 this time, and will need to hold the 60-59.50 zone now on any pullback for this to continue working higher and not have a breakdown

29 Jan 2018 11:46 am
66.50-67.50 area still should be pivotal and could get a pullback of some sort from that area if not broken through and sticks up there

29 Jan 2018 11:49 am
should not go back under 60.50-59.50 or else reversing again and another bounce after should fail. Should bounce from 62.50 if going to the strong

29 Jan 2018 12:00 pm
coming down from the 65.50 downside and going back under 61.50 and not getting turned right back up could keep going down to or through 59.50 and then holding under 61.50 could keep pressure on again to keep going back towards the low areas. At the m

29 Jan 2018 12:02 pm
should continue to fail on bounces under the 59.50-60.50 area and unless broken and held this afternoon the ES has a chance to test or break the low and 53-52 must hold on a break to avoid potential sizable selloff today

29 Jan 2018 12:04 pm
pop up from 59 needs to hold at or below 61.50-60 2F going to keep going down to at least 57.25 and possibly through that area

29 Jan 2018 12:09 pm
bounce from 59 would need to take out 66 as both are pivotal areas it appears and better shot at breaking down through 59 again

29 Jan 2018 12:20 pm
this move up needs to go through the the 66.50-67 initial support/new resistance for this to have a shot at breaking this current trading range on the upside, but would need to hold a small pullback and up afterwards

29 Jan 2018 12:24 pm
needs to turn up from 62.50-62 or else keep on coming down from potential double top of some sort and could test or break 60-59 again

29 Jan 2018 12:27 pm
I will be away until around 1:20 but well update if if it is necessary ASAP, although maybe caught on a view phone calls. this has been two-sided action and right now middle of trading range and the days range

29 Jan 2018 12:57 pm
after coming off of the lows the pullbacks have been better bid back up with gusto than they have been aggressively sold off of highs, and has a shot at getting back to or through the 66.50-67 area then going under 60.50-59.50 pivotal areas

29 Jan 2018 01:03 pm
so look for another pullback from 66.50-67 prior support to hold at or above 64 area or else keep going back towards 60.50-59.50 again – really should bounce from 64 is going over 66.50-67

29 Jan 2018 01:19 pm
just a poke above 66.50-67 new resistance and will continue in an uptrend as long as a hold over 66-65.50 at worst and now and could keep going towards the 71 high and possibly 72.50 if reached and not reverse,

29 Jan 2018 01:22 pm
pop-up not sticking and going back under 66-65.50 would mean another bounce should also fail but at the moment pressure still on under 68

29 Jan 2018 01:36 pm
ES beginning to roll over from a brief poke above 67 resistance and if 64 does not hold then a chance of coming back down towards 61 or take out 59.50 if a bigger breakdown

29 Jan 2018 01:45 pm
64.25 is a "last trapped" shorts before pullback to 60.75 started quick run up and poke up to 68.25 and going down through that 64.25 should mean continuation to/through 63 area

29 Jan 2018 01:48 pm
the VIX made some big moves today and went all the way up to 13.21 and came down to 12.82, bounce back to 13.10, back to 12.82 again and further breakdown could pop it up over 13.10 again, up 15% today

29 Jan 2018 01:56 pm
appears that this is going to attempt another run up towards 66.50-67 area and should get turned away unless is going to keep going up through 68.25 and stick

29 Jan 2018 01:58 pm
any kind of pop-up should holds at/ below 65.50 for this to break lower instead of higher

29 Jan 2018 02:04 pm
run up to 66.25 turned away and needs to get over 66.50-67 without turning right back down again or else stays vulnerable to another decent pullback and under 63.50 can keep going to court through 60.50-59.50 again

29 Jan 2018 02:08 pm
63.50 held so far by 1 tick and becoming an important area to hold to avoid a pullback again to the 60.50-59.50 area possibly, so needs to get over 66.50-67 or else still could break 63.50 and keep going

29 Jan 2018 02:11 pm
finally going to break down now and should stay under 65 area now to keep the pressure on

29 Jan 2018 02:15 pm
appears to be a bigger trading range, not going to break down very far at least not at the moment, but does have a shot at making another push higher towards the 66.50-67 area or a bit higher

29 Jan 2018 02:25 pm
can get another bounce attempt from a move down to 62.50 area, but right now pressure is on holding below the 65 area

29 Jan 2018 02:29 pm
could keep coming back down to the 61-60 area, and would avoid trouble as long as the 60-59 area is not broken. If it is then could be going back down to test or break the lows

29 Jan 2018 02:31 pm
bounces should continue to fail with this working its way a bit lower before a bounce can happen

29 Jan 2018 02:35 pm
headed down to or through the 60.50-59.50 area and if broken through then to the lows is possible

29 Jan 2018 02:42 pm
59.25 reached so far and would need to go under 59 and then hold under 62-62.50 and turned back down again if this is going to keep going towards the low areas of the day

29 Jan 2018 02:48 pm
so far bounces from the 59.25 target/support made it up to 62.25 and shouldn't go through 62.50 without getting turned away, otherwise that will be an important low the rest of the day

29 Jan 2018 02:56 pm
turned away at 62.50 however holding 60.75 and just above a support zone at 60.50-59.50 should hold to avoid breakdown through that support area, and attempt a better bounce before another pullback occurs

29 Jan 2018 03:00 pm
the most important zones are at the 59.50-59 and 66.50-67.50 on the upside this afternoon. 63 is the middle of the days range from 71 to 54.50, and could be pivotal in between the two. Bearish unless broken

29 Jan 2018 03:13 pm
there is a chance this can work its way a little bit higher, but should have some trouble getting above the 63.50-64.25 area on this bounce, and staying there after just a tiny pullback. Can chop back down towards 60.50-59.50 and possibly more if tha

29 Jan 2018 03:17 pm
ES has reached 63.75 and now looking like it could chop higher instead as long as a pullback does not come back down through 62.50-62 and not bounce right back like the other little pullbacks are doing

29 Jan 2018 03:21 pm
rolling over from 64 and has a shot of taking out 59.50-59 area and if that happens it either will give a small bounce or else pick up some steam on the downside

29 Jan 2018 03:23 pm
amazing that the VIX is up more than 17% and over the 13 level, and it's not "fear" making it move like this. Market expecting some big volatility coming – and probably not on the upside as parabolic run up unwinding

29 Jan 2018 03:25 pm
bounces should continue to fail as long as the ES doesn't get back above 64 and hold up there. That needs to get over 64 and then hold 63 after and to up again

29 Jan 2018 03:26 pm
otherwise could go right through the 59 area on this move and not be able to get turned around, especially if the Dow sells off to its last swing low or more

29 Jan 2018 03:36 pm
would need to have a strong run up over 61 at most and stick now to get a turn around attempt, but likely not go very far if it does get up there.should keep coming down to its low area

29 Jan 2018 03:38 pm
at the moment we have a break and they hold under the 59.50-60.50 zone and need to get over 60.50 at a minimum and be able to hold or else keep going to the lows or lower and reach 52-53 if 54.50 is reached in not able to hold

29 Jan 2018 03:44 pm
in the last 20 minutes the ES will need to hold 53-52 area and get back over at least 59.50-60.50 area to close well and not on or near its lows for the day

29 Jan 2018 03:45 pm
have a great afternoon/evening. Catch you tomorrow morning after you have read the update. Take care

 

INTRADAY LOG FOR THURSDAY - JANUARY 25, 2018

25 Jan 2018 09:05 am
Good morning. this is amazing. The ES dropped just under 30 points yesterday and already within a couple points of the high yesterday, and really should have a hard time taking out 55 and stick

25 Jan 2018 09:11 am
looks like 48 maids to hold on a pullback or else much lower than might not be so easy to come roaring back up

25 Jan 2018 09:16 am
drifting lower here and could keep coming down staying under 51.75

25 Jan 2018 09:19 am
probably won't see a run up on the higher open like yesterday and need to get over 50.50-51.50 and stick. Has to be a strong run up from over 48

25 Jan 2018 09:21 am
unless they get over 51.50 and keep going which looks doubtful right now, the pullback could go down to 45.50 area and needs to turn from around there or else could be something like yesterday

25 Jan 2018 09:24 am
top is likely in and short bounces under the 54-55 area today it shouldn't be broken unless a try for bigger run out. I'll update after the open and then online the same time today

25 Jan 2018 09:31 am
should be pressure on unless 50.50-51.50 is broken above and held down to 46-45 first support

25 Jan 2018 09:35 am
46.50 reached and bounce attempt so far holding under 51.50-51.50 and needs to be taken out and then hold 50.50 on a dip if there is going to be a test or break of yesterday's high for coming down again

25 Jan 2018 09:37 am
next support under 46.50-45.50 is at the 42-41 area if a decent push lower. Still stays bearish unless 50.50-51.50 gets taken out and held on this bounce or holding 46 one more time and going up there

25 Jan 2018 09:46 am
42-41 target/support held and needs to get over 48 now and only a small pullback after to break current downtrend and avoid test or break of the low area. Back later

25 Jan 2018 10:01 am
34 key S 31.50 big R

25 Jan 2018 10:15 am
42 pivotal

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25 Jan 2018 12:02 pm
after dropping 16.75 points in the first 30 minutes that ES bounced back 13.50 points so far and needs to hold 43.50 area or else could begin another move lower. Otherwise must get through 47.50-48.50 and not turn right back down, or still vulnerable

25 Jan 2018 12:09 pm
tests of 47 was rejected and unless 47.50-48.50 is taken out that area is still likely to be sold as they don't like them up there so far at least this morning

25 Jan 2018 12:11 pm
if this can keep going through the 47.50-48.50 area, then a small pullback should hold and get turned back up to get up to the 50.50-51.50 resistance and token higher high

25 Jan 2018 12:16 pm
this afternoon that ES has a shot at going up to the high area and either a little bit lower or a little bit higher before a pullback of some sort, and as long as pullback doesn't break 45.50 and especially 43.50, turned up, avoids reversal

25 Jan 2018 12:17 pm
I will be away today until around 1:15 roughly but will update if necessary and I am not caught up on a phone call or something ASAP

25 Jan 2018 12:36 pm
second pullback from the 47.50-48.50 updated resistance and could have a reversal if 43 is broken on the ES along with 26,392 level on the Dow, where it broke out over yesterday all-time high and holding there

25 Jan 2018 12:49 pm
so far 43 area holding on pullbacks and 47.50 on the top and now 45.50 needs broken or else it could be another fail and maybe though down to the 42-41 area and/or 26,392 area

25 Jan 2018 12:54 pm
should see any kind of bounce from here fail now and had lower to the bottom of this strange to or through 41.50 area

25 Jan 2018 01:01 pm
token lower low at 42.50 so far and this bounce needs to fail again at or below under 45-46 area and then come down to 41.50 or more. The NQ in a steady downtrend, and the Dow close to 26,292 must hold breakout area

25 Jan 2018 01:05 pm
selling pressure will stay on as long as holding under 43.50-44 area at most on a bounce attempt now with the Dow at its breakout support

25 Jan 2018 01:24 pm
bounce from 40.50 had another failure at the 44.50 resistance and should come back down to test or break 40.50 and the Dow cash under 26,393-385 area

25 Jan 2018 01:31 pm
43.50-44.50 now new resistance to clear and hold over otherwise at least test 41-40.50 and unless turned back up with some gusto can keep going down to/through 37-36 again

25 Jan 2018 01:42 pm
bouncing from a model double bottom made at 40.50-41.25 and needs to keep going up through 44.50-45.50 and could pullback but if not then a shot at testing the high before coming back down again

25 Jan 2018 01:55 pm
bounce from mid-range double bottom on ES and the middle of the 26,392-26,385 updated support and breakout area this morning.if they get back up to 47.50-48.50, should be hard to get through without pullback first

25 Jan 2018 02:00 pm
could end up being a top of some sort and another decent pullback if this holds at or below 46.25 and takes out 44 area– with a little momentum would help

25 Jan 2018 02:10 pm
only a small pullback turning up from 43.50 and should hold at or above that area on any other pullback or else could test/break 41.25-40.50, instead of attempting 47.50-48.50 area

25 Jan 2018 02:11 pm
should begin to break down towards the 41.25-40.50 area and breaking through opens the door for a bigger pullback blasting about 5-10 minutes

25 Jan 2018 02:14 pm
38-37 must hold or else could go down to test or break the 33.75 early low. Bounce resistance is around 42-43

25 Jan 2018 02:16 pm
only a 5 minutes selloff so far and should continue towards the lows if another bounce attempt fails at or below 42 area

25 Jan 2018 02:29 pm
bounce attempt turned down at 41.50 and unless that is taken out and then can hold after that, should and up taking out 38-37 and test/break 34 low area

25 Jan 2018 02:36 pm
with this holding under 41 and rolling over again it should go through 38-37 and attempt 34-33 or lower

25 Jan 2018 02:36 pm
or at least it opens the door for that to happen. Now must stay under the 40-41 zone at most to keep pressure on

25 Jan 2018 02:41 pm
can bounce from 35.50 but under pressure holding under 38.50-39 area at maximum right nowto keep going towards 34-33 or more

25 Jan 2018 02:44 pm
could be a low for a little bit if there is a bounce with some gusto back over 38.50-39, but not get back over 41.50 if coming back down here again

25 Jan 2018 02:52 pm
32.50-31.50 could be broken and if so would open the door for yesterday's 25.50 low area. Would need to have strong reversal takes out 37-38/stick above or steady downtrend continue

25 Jan 2018 03:02 pm
bounce failed at 37.75 resistance and turned down and another push lower through 32.50-31.50 needed to keep going towards yesterday's 25.50 low. Bearish under 37-38 still

25 Jan 2018 03:05 pm
32.75 low 1 tick above support, a chance it could be a low but needs to get over 37.50-38 to get into neutral territory

25 Jan 2018 03:11 pm
still making lower highs on bounce attempts and unless that ES can get back above at least 36.50 and especially 38 or else could keep going lower until getting to or through the 25.5 area possibly

25 Jan 2018 03:17 pm
parabolic run up unwinding with this being the second leg down and has a chance to make pattern somewhat similar to 1987. new low at 30.75 quickly turned up again, now still needs a move over 36.50 and not roll over

25 Jan 2018 03:19 pm
support broken by 3 ticks then quickly turned up in held 31.50 after that and starting this for on up at 3:15 PM. Should be a low and a shot at taking out 38 area

25 Jan 2018 03:25 pm
made it up to the 38.25 level and has two hold 36 at a minimum and/ or get back over 38 and hold 37-36 in order to avoid a late pullback, attempt bounce back up to 41-42 area and possibly more

25 Jan 2018 03:32 pm
with the way that the market has been going up and down today, mostly down in the afternoon, it looks like the 38-37 area could become pivotal. If broken/held then another push lower underway

25 Jan 2018 03:32 pm
if it goes back up through 38, then has a shot at making it up to the 41.50-42.50 area and a chance of going a bit higher

25 Jan 2018 03:33 pm
have a great rest of your day! I'll meet you here tomorrow morning before the open. Take care!

 

INTRADAY LOG FOR WEDNESDAY - JANUARY 24, 2018

24 Jan 2018 08:59 am
have a great rest of your day! Update this evening and then I'll meet you here in the morning. until then, take care!

24 Jan 2018 09:03 am
Good morning. Opening up here would be another gap up open into new all-time high territory and would not be able to stick and come down to 44 area before bounce

24 Jan 2018 09:19 am
at yesterday's high the ES was up 172 points for the year already, doesn't count today and still 6 more trading days. don't expect this bounce to stick

24 Jan 2018 09:24 am
it looks like 46.50 area is going to need to hold laurels come down to at least 44.75 and fill the gap at yesterday's high

24 Jan 2018 09:28 am
I will update about five minutes or so after the open

24 Jan 2018 09:33 am
holding over 46.50 needed to avoid the pullback

24 Jan 2018 09:34 am
don't expect 50 to be broken and held. Should take that out and drop to around 44.75 or more

24 Jan 2018 09:38 am
should be hard to get over 49 and hold now and come down to or through 44.75 to fill gap

24 Jan 2018 09:39 am
can bounce from above that level but work its way back down is 49 not taken out

24 Jan 2018 09:43 am
48.25 should not be broken through and hold very long if coming back down again from under the high

24 Jan 2018 09:45 am
backed away at 48 but has to at least go back under 47 and then hold under 47.50-48 on any kind of bounce attempt

24 Jan 2018 09:46 am
I will meet you online and just a little bit.

24 Jan 2018 09:48 am
another quick pullback from just over 49 and I don't think the ES is going to like it over 50 different even happens to get there but should have highs in place right now if this takes out 47 without turning up with some gusto

24 Jan 2018 09:51 am
meet you online and just a little bit

24 Jan 2018 09:58 am
it will stay parabolic unless the higher low at 46.25 is broken for a reversal, and now needs to take out 51.50-52.50 and then hold around 51 and turn up after that to keep going straight up

24 Jan 2018 10:02 am
50-49 area will be important melt up support and would need to be broken and held or else 57-58

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

24 Jan 2018 11:59 am
at today's highs the ES was up 182 points already this month and the NQ up 704 points already for the month! Reversal that broke and then held 51.50 started the drop and

24 Jan 2018 12:01 pm
holding under 42.50-43.50 will keep pressure on to test or break the 33.75 low possibly testing or breaking 32 low from yesterday for in "outside day" which Barry bearish at new all-time high

24 Jan 2018 12:01 pm
be short something or long the VXX

24 Jan 2018 12:10 pm
pullback held 36.25 so far and unless 39.50 close from yesterday is broken/held then could come back down to or through 37-36. if 39.50 broken,instead, 41.50-42.50 needs taken out next

24 Jan 2018 12:21 pm
this has been going sideways but holding under 41.50 on bounce attempts and unless broken it still vulnerable to test or break through the 32 low from yesterday

24 Jan 2018 12:22 pm
and if that happens and not a good bounce right away it will open the door to test 28-27 area where it may or may not turn so needs to be watched for stall or quick turn up instead of going right through

24 Jan 2018 12:25 pm
I will be back around 1:15 roughly, but will update ASAP if/when necessary as soon as I can either get off of the phone or from wherever I might be. As stated earlier be short something more along the VXX

24 Jan 2018 12:41 pm
the ES cut the 32-31 zone and has an outside day that could get ugly euphoric buyers the last few days at least with 28-27 and maybe to or through 23-22 possible

24 Jan 2018 01:10 pm
and another new low so far reaching 28-27 support zone and unless a move back over 37 needed or else the door open to reach 23-22 next

24 Jan 2018 01:13 pm
a bounce needs to be more than 4.50-5.50 points and only a small pullback after that to have a decent bounce underway, not be able bounce that fails again

24 Jan 2018 01:27 pm
a tiny double bottom was made at 25.50 and now a move above 32 area could mean a low in place and less this is going to be a trend down move and makes a lower level from under 32-33 area

24 Jan 2018 01:30 pm
finally there seems to be a decent bed under the market, so if the 29th level holds at worst then this has a shot at taking out the last swing high at 35.25 and be bought on a small pullback after if turning around

24 Jan 2018 01:41 pm
made it back to the 38 prior initial/pivotal support and backed away but unless the ES goes back under 32 close from yesterday and sticks this bounce could go a bit further towards 40 which is halfway back from top to bottom. 38 should be tough to g

24 Jan 2018 01:49 pm
pullback held and bid up from the 35 area which needs to hold 36-35 now otherwise could be another move down to a higher low most likely, 32 IF broken. Getting back up above 40 to the 41.50-42.50 area if no break/hold of 36.50 uptrend support

24 Jan 2018 01:59 pm
pullback from just under 40 held at 37.25 and made one more push up to the 41.50 level which was a bounce high also just before noon and 40.75 a little after. Must hold around 37-36 or else bigger move underway

24 Jan 2018 02:15 pm
so far holding the 37 first support and needs to get over 39.50 close from yesterday and hold, otherwise can come back to or through 37 area, which looking like important support now to hold to avoid going back to/through 33-32 – now MAJOR especial

24 Jan 2018 02:24 pm
if the ES is strong enough to get back above 2843-2844 and stick, then it will be making another "V" bottom and could keep going all way up to 47-48 again. If NOT broken and goes back under 37, market back in some trouble

24 Jan 2018 02:25 pm
need to be away about 10 minutes and update after that

24 Jan 2018 02:32 pm
holding the 40 area probably necessary for this to be strong and avoid another decent pullback of some sort. And getting over 43 needed to attempt one more push higher. Range likely would break 40, test 37 area if so

24 Jan 2018 02:35 pm
40 touched and turned up, maybe for a running start at the 43 area. Not much momentum either way here, needs good breakout over 43 otherwise still vulnerable for some sort of pullback/breakdown

24 Jan 2018 02:35 pm
if 37 easily broken through

24 Jan 2018 02:51 pm
the ES just broke out after 25 minutes of sideways action like it had been all the way up, before making its top. With 45 being reached, should stay over 42-41 the the rest of the day to keep reversal move from dropping back down through 42-41 area a

24 Jan 2018 02:58 pm
most hold at/above 40 at worst it appears and turn up and take out 46.50 minimum without backing off, or else could retrace 50% back towards 35

24 Jan 2018 03:07 pm
reached 39.50 and turned right back up and will need to continue holding above 40 otherwise another move a lower would test 37 and possibly 35 middle of move from low to bounce high

24 Jan 2018 03:18 pm
29.75 point pullback followed by a 19.75 point rally, and with these pop-ups being sold into should keep on dropping to or through 37 area and could start continue breakdown if 35 not able to hold

24 Jan 2018 03:20 pm
this bounce from a lower low at 38.75 needs to hold the 38-37 zone to avoid a further late day breakdown. Would need to get back above 41.50-42 and hold up there to attempt decent move higher, rather than rather than breakdown

24 Jan 2018 03:36 pm
that ES has been churning with the pop-ups being sold, but the dips being bid right back up from the 38 support so far. Needs to hold 38-37 if there's going to be late day bounce attempt again

24 Jan 2018 03:38 pm
have a great rest of the day. update this evening and then I'll meet you here sometime before the open. Until then, 38-37 needs held to avoid potential late day break. Take care!

 

INTRADAY LOG FOR TUESDAY - JANUARY 23, 2018

HOW OUR TRADING DAY WENT: A VERY good shorting opportunity again at the 9:50-10:10 timeframe. A reversal from the 2841.50 resistance started a 9.50 point drop in 10 minutes. Then, after my resistance was obviously off, we adjusted and new resistance at 2843.50 was sold with target at new support. CLICK HERE for a video recap!

23 Jan 2018 08:53 am
have a great rest of your day. I'll update tonight and then meet you here tomorrow in the morning. Take care!

23 Jan 2018 09:16 am
Good morning. the 31.50 level is a level that shouldn't be broken unless topping out for a while at least. charts are all straight up, something I have never seen like this at new all-time highs

23 Jan 2018 09:21 am
I will update a little bit after the open

23 Jan 2018 09:25 am
right around all-time high on the open for the ES and watch for a poke over to the 37-38 area to be turned down otherwise they chance at the 42 area

23 Jan 2018 09:29 am
looks like 34 needs broken and hold under 35 if going to the 32 initial support that needs to hold

23 Jan 2018 09:35 am
37-38 needs broken and hold over 36 at worst after that otherwise topping out and especially taking out 34

23 Jan 2018 09:37 am
hi could be in place – 36 needs to hold or else could be a top with the bounce that follows gets sold

23 Jan 2018 09:40 am
held right at 36 so far and needs to go under that and not turn right back up for a reversal attempt otherwise a shot at the 41.50-42.50 before pulling back

23 Jan 2018 09:42 am
keep an eye on 36 as that will be key support now or else could be rolling over and also should have a really hard time getting over 41.50-42.50 if it's reach, or parabolic move

23 Jan 2018 09:42 am
I will meet you online and just a little while

23 Jan 2018 09:56 am
top in at 2841.50-2842.50 holding under 37

Tuesdays, Wednesdays, and Thursdays from 10:30am-12:00pm Eastern Time are our Live Audio/Visual Trading Sessions. These sessions include visual of Mike's charts and audio. Mike gives his market bias and new dynamic support/resistance, along with pointing out setups that are in Mike's e-book. This is an included perk in a "real time" subscription.

23 Jan 2018 11:59 am
since topping that ES has been sold on every bounced so far back down to the 37.50 support, and that is as far as that should go or else a chance to to the 32 low at support earlier

23 Jan 2018 12:03 pm
if the downside is going to get turned around and try for another bounce then the 40 area needs cleared with only 90 pullback and then must going through 42.50

23 Jan 2018 12:10 pm
and breaking under 37.50 should mean continue downside with bounces failing under the 41.50 area

23 Jan 2018 12:12 pm
would need to take out the 41.50-42.50 area and hold 41.50 after that if there is going to be further parabolic run up instead of this slow unwinding of this mornings move at the least. If break under 37.50 and it sticks under 38.50 afterwords

23 Jan 2018 12:22 pm
at the moment the ES has a little double bottom at the 37.50 prior resistance/new support and is bouncing the second time and could get to the 41.50-42 area if 40 not rejected immediately

23 Jan 2018 12:25 pm
in any case, at the moment two-sided action with bounces failing due to parabolic run up being unsustainable – 9.50 point drop then 12.75 point rebound sold off 7 points and likely should go more with 40 being immediately rejected

23 Jan 2018 12:29 pm
I will be away until around 1:15-1:20 and a chance I will be tied up a good part of that time, however I will update if necessary just ASAP and also if I'm freed up. NOTE: 2-3 pops from new support,but need move over 42 major

23 Jan 2018 12:51 pm
too many failed bounce attempts from 38-37.50 that held at/ under 40 and should be headed down to or through the 33-32 area or more

23 Jan 2018 01:13 pm
well, a very quick turnaround from 36.75 made it back up through the 40 level and quickly backed off from 41.00. Needs to hold and push over 41.50-42.50 and STICK, not come back down and break through 41.50 again.

23 Jan 2018 01:14 pm
pullback support on this move is around the 39.50 level which shouldn't be broken or else could be another air pocket down to around the 37 area again

23 Jan 2018 01:21 pm
the early run up and 9:50 reversal from 41.50 resistance and a 9.50 point drop in 10 minutes turn right up from 33-32 first support the best set up, mostly scalper market since then.

23 Jan 2018 01:27 pm
unless holding long from low or short from top as as the 38.50 right here is right in the middle. bounces are holding, pullbacks being bought. Another dip needs to hold at or above 38-37 prior resistance/new support to avoid 35 or more

23 Jan 2018 01:31 pm
if a move over 41.50 not turn right down then could keep on going to or through new high, and if it is through 45 new high then to 47.50-48.50 and come back down.

23 Jan 2018 01:49 pm
needs to take out 42.50 and then hold and turned up from around 41.50 otherwise could end up with a top in this zone instead of potential test of the high

23 Jan 2018 01:55 pm
holding 41.50 and has a shot at the 44.75 high area, a possibility of more, however cannot stop at the 43.25 area as that is where 2-3 pop-ups were rejected before the drop to 37.50 happened

23 Jan 2018 01:59 pm
could be a top at 43.25 again if this comes down under 41.75 area which was its breakdown area before also

23 Jan 2018 02:04 pm
breaking down again from the 43.25 pounds high area, and a double top on the NQ. Would need a strong move over 43.25 or else stays vulnerable

23 Jan 2018 02:10 pm
if there's going to be a chance of getting back up to the highs then the ES needs to hold on this small pullback and hold 40.40 area and turn up at the very lowest and turned up again. If that is taken out instead, then can go back at least to 39 and

23 Jan 2018 02:15 pm
probably a good short to hang onto for a while under the 43.25 level, unless the action changes in gets above that level it can keep on coming down to 39 at least and could test or break 38-37 new support area which would be even more bearish

23 Jan 2018 02:20 pm
down to the 38 level so far and continuation through 37 that does not get turned up quickly can open the door to continue down to test or break through the 33-32 low at support area next

23 Jan 2018 02:24 pm
trying to bounce from 37 and in order to avoid a break under that area a bounce at least needs to take out 38.50-39 area and hold over 38.50 at the lowest – keeps dropping towards 33-32 low otherwise

23 Jan 2018 02:29 pm
reversing up from 37 new support and needs to keep going and get back over 40-40.50 and stay over 40 otherwise come back down again and break through this new support instead of trying 443 again

23 Jan 2018 02:44 pm
base to keep going through the 42 area to test or go on up through 43.25– which has been a high area twice before coming down to the 37 area. Stays in a range between those two areas otherwise, dropping down again

23 Jan 2018 02:47 pm
need to be away about 10 minutes and will update ASAP when needed here. Another top around this 41.50-42.50 resistance likely, if not then 43.25 could be tested or broken on a run up of some sort

23 Jan 2018 02:58 pm
43.25 taken out by 1 tick before pulling back, and if this pullback is small and holds 41-40.50 and can't get turned back up then it might have a shot at testing or breaking 44.75 high of the day

23 Jan 2018 02:59 pm
will need to also get the Dow back above 36,229 so it has a chance of testing or breaking its high

23 Jan 2018 03:01 pm
should began to selloff again and possibly back down to or through 38-37 if this cannot hold the 40.50-40 area

23 Jan 2018 03:07 pm
two-sided day in headed for the lower end of the range down at the 38-37 area and if that does not hold in the last hour then instead of bouncing back it could go back down to 33-32 initial support and low for the day, although doubtful

23 Jan 2018 03:14 pm
feeble bounce attempt failed and headed towards 38-37 which will need to hold or else continue the skid down to 33-32 possibly. There were air pockets below earlier in the day

23 Jan 2018 03:22 pm
bounce from 38.25 needs to take out 40.50-41 to avoid another pullback to or through 38-37 area. If 38.25 is taken out with some gusto instead, then another run up towards, but likely below, top of range most likely

23 Jan 2018 03:27 pm
market has had a tendency to want to close at its new all-time highs but don't think that's going to happen today, and if not could end up making another push lower which could get back to or through 38-37 before the end of the day

23 Jan 2018 03:33 pm
turning back up after holding just above the bottom of the 38-37 old resistance/new support that has been tested 4 times now, and must hold that area or break down further end of the day

23 Jan 2018 03:35 pm
the market has been going two-sided between 37 and 43 for the most part this afternoon, and unless there is a move below or above one of those levels that sticks it stays range bound, instead of breakout higher or down lower – more likely

23 Jan 2018 03:40 pm
have a great rest of your day! Update this evening and then I'll meet you here in the morning. until then, take care!

 

INTRADAY LOG FOR MONDAY - JANUARY 22, 2018

22 Jan 2018 09:12 am
Good morning. looks like early pop-up should hold under 12-13 if coming down to or through 2807-06 at worst or else might be a high in place for a while

22 Jan 2018 09:18 am
probably shouldn't get back over 2809.50 pivotal area now or else could pop up towards 12-13 instead of dropping to or through 2006

22 Jan 2018 09:23 am
a bounce from 2007-2806 still needs to get over 2812-13 or else could keep going lower down to 2802 or more. Update after the open

22 Jan 2018 09:30 am
2807-2806 should be important early now and must hold again this test on first pullback

22 Jan 2018 09:32 am
has to keep going through 12-13 – so far rejected just under that area

22 Jan 2018 09:34 am
needs to turn down from 12-13 and break under 2909.50-2909 pivotal area through 2907 and not get turned back up.

22 Jan 2018 09:39 am
another rejection at 2812, and break of 2809.50 and not turn right back up with gusto will reverse this to or through 2807-2806

22 Jan 2018 09:43 am
a chance of testing 2812-13 now that a bounce from just over 2809.50 and it's broken then 2810 area will be key support on any pullback

22 Jan 2018 09:46 am
would need to break 13 and then hold 11 area afterwards or else top possible but still strong resistance there to clear/hold

22 Jan 2018 09:49 am
poking through resistance and will stay in an uptrend now as long as 12-11.50 is held

22 Jan 2018 09:52 am
could be a high in place for a while if a break under 12-11.50 with this reversing at the start of the 9:50- 10:10 timeframe

22 Jan 2018 09:56 am
need to go under 11.50 and not turn right back up from 2810-2809.25 area. a chance to pop up around 15 area before reversing otherwise

22 Jan 2018 10:00 am
poke over 15 being sold first time up there and going under 14 could be a reversal of the trend

22 Jan 2018 10:03 am
if no break back under 14 soon the door is open to get to the 17.50-18.50 area next where this should have a reversal if it gets that far

22 Jan 2018 10:07 am
13.75 reached so far and need to hold their and make another higher high or else began to get top-heavy

22 Jan 2018 10:12 am
straight up to the 17.50-18.50 zone and now should hold over 16.50-16 or else parabolic run up could be reversing/starting a pullback

22 Jan 2018 10:15 am
to keep this parabolic run up going should not go back under 18-17 at the very lowest if headed up to the 22.15-24 area and parabolic move higher morning

22 Jan 2018 10:20 am
22.50-24 area is straight up and second to the last area for today, the next way up at 32-33. Should see some pullback, soon from this area

22 Jan 2018 10:22 am
per the e-book, the 18 EMA on 1 minute chart holding all the way up so far and currently at 19 in breaking that breaks strong parabolic uptrend. Could bounce, but likely not stick

22 Jan 2018 10:26 am
now needs to hold around the 19.50 area at worst to avoid breaking up trending EMA's and up trending guide since the open

22 Jan 2018 10:30 am
upside appears to have run out of some steam and near breaking uptrend support after straight up move and under 19.50 would be the 17 area that would be next and if broken then 14 area important under the

22 Jan 2018 10:36 am
dynamic support on 1 minute chart finally broken the bouncing from 19.50 and looks like 19.50-18.75 could be pivotal area and if held could make a higher high possibly just over 22.50 to around 24 top of that area

22 Jan 2018 10:38 am
double top at resistance right now and should be bearish right now under 22.50 area at least to test/break 19.50 area

22 Jan 2018 10:41 am
held just above 19.50 so far by 1 tick and turned up but still needs to take out the double top at 22.25-22.50 and keep going up through 24 and hold 22 Upside going to keep going higher

22 Jan 2018 10:51 am
going sideways between 22.50 resistance and 19.50 new support with parabolic run up is resting and needs to either run up over 22.25-22.50 with gusto, or else come down through 19.50 area and potential break to 17 or more

22 Jan 2018 10:56 am
another top at 22.00 on last bounce attempt and just reached 19.50 and unless 22.50 broken soon with some gusto than should break 19.50 and see 17 or lower

22 Jan 2018 11:01 am
if 17 is reached then needs to bounce back over 19-20 or else have another pullback test were break the 15 area.

22 Jan 2018 11:04 am
would need to get back over 19.50-20 and stick in order to avoid one more push lower to or through 17-16 area. Update and about 8-10 minutes if necessary

22 Jan 2018 11:17 am
20.25 twice holding at 18.25 and as long 20.25 holds it can still get to 17 area or more

22 Jan 2018 11:24 am
right now with the strong upside momentum still, ES should avoid trouble unless a break under 18 that sticks

22 Jan 2018 11:25 am
17.50-16.50 prior resistance should be good new support on a pullback if this is going to stay in strong position today

22 Jan 2018 11:28 am
good selling on the bounce attempt at 20.50 area and now has a shot to break through 18 and if so by enough that it holds after being in the 17.50-16.50 zone or more

22 Jan 2018 11:28 am
or basically just a short under 20.50 at the moment

22 Jan 2018 11:46 am
bounce off of 17.00 new support came right back up to 20.50 where it has stopped once or twice already, needs to go above that and take out 22.50-24 area and then hold 20 afterwards to extend upside and not topping out instead

22 Jan 2018 12:02 pm
breakout over 20.58 race Sprint up to a token higher high and should stay above 22.50-22 in order to keep this move grinding higher and try for a move over 24 next, and open the door to attempt going a bit over 30 before end of the day. If it comes b

22 Jan 2018 12:03 pm
just missed 24 so far and should make a token hire high at that level at least if this holds above 20.50-20 and turns up

22 Jan 2018 12:10 pm
still a new high at 24.50 and this could keep trying to climb higher but not much as it appears that buyers are going to be backing away at new highs,and going back under 21.50-20.50 could mean topping action coming

22 Jan 2018 12:11 pm
I need to be away until around 1:10 PM or a little after today. I may not be able to update until then. But if possible then I will ASAP. Bullish action, pullbacks should still hold

22 Jan 2018 12:57 pm
after taking out 2824 and holding 22.50 it was a steady climb to the 2828 level and that number is a good number for a high of some sort to be made so could be the start of pullback towards 24-22.50 again

22 Jan 2018 01:11 pm
so far a pullback to 24.50 held and has turned back up and with the Dow cash only making a token new all-time high, while ES and NQ WAY over there previous highs, need Dow to get upside going or else be sold around the high again

22 Jan 2018 01:16 pm
potential for a double top or a lower high get turned down, and if so then 24.50 needs held or else keep going to or through 22.50 bottom of prior resistance that was held once broken through earlier

22 Jan 2018 01:20 pm
123 type of top can be made it this pops up to a slightly lower high and then breaks the low of the high bar on the 1 minute chart should mean reversal attempt starting

22 Jan 2018 01:31 pm
the Dow cash made a token new all-time high and then pulled back and now holding just under previous all-time high, and both would need to take out their highs soon or else ES go back to 24-22.50 and Dow cash go under 26,133

22 Jan 2018 01:48 pm
so far the Dow went to 26,132 and turned up and the ES is holding around 26 and should continue holding to get another higher high or keep going towards the 32-33 area, by taking out the 28 top and only another small pullback turned after that

22 Jan 2018 01:54 pm
with the Dow backing away from its all-time high and the ES just missing its high and turning down should mean a top in place now and downside coming even if a bounce now it's likely

22 Jan 2018 02:00 pm
this bounce needs to take out 27.50-28 area and then hold at 27 at worst and turned back up after breaking out if there's going to be more upside. And should not go back below 24.50 area if it's going to try that

22 Jan 2018 02:09 pm
looking like 28 is going to be a top area to get through, along with the Dow cash getting back above at least 26,150 if going to push higher on this move from 25, and holding just over the 24.50-24 new support which could leave a top in place for a w

22 Jan 2018 02:19 pm
going to need to break under 24.50-24 area if there's going to be a break of the range from the 12:55 top and 1:05 low. could drop as far as 21.50 if a break under the bottom by much, but would need to turn there

22 Jan 2018 02:25 pm
getting the bigger breakdown and needs to hold 22.50-21.50 area at the worst if there's going to be a bounce back that is decent before coming down again

22 Jan 2018 02:26 pm
should be good resistance at the 25-25.50 breakdown area and roll over again if there's going to be more downside to or through 22.50-21.50

22 Jan 2018 02:39 pm
made it up to 25.50 so far and should it go any higher or else another dip will be bought, and likely will anyhow, as long as it holds at or above 24-22.50

22 Jan 2018 02:44 pm
the ES has had pullbacks of five points 50 points and 5.25 points so far today and 22.50 prior resistance/new support so far needs broken if the market is not going to bounce back so easily

22 Jan 2018 02:49 pm
it's looking like the ES could be staying up in this area for a while as long as 22.50 is not broken through this afternoon and not able to reverse from that. Should be buyers ready on all of these pullbacks <= 5.25-5.50 points

22 Jan 2018 02:57 pm
back up to the high area again on the ES, and with the Dow making a U-turn and attempting to move back up towards its high also, and still can see some small pullback bought, right now needs to hold at or above 25.50-25 at the very worst otherwise co

22 Jan 2018 03:00 pm
coming off of yet another top and at 25.25 and if it cannot get turned around here then back towards 22.50 area possible and that would be major in order to avoid breakdown

22 Jan 2018 03:02 pm
quickly turned up from that support, so unless the 25 area gets taken out and drops towards 22.50 it has a chance to test or break through 28 high and attempt 32 area if that happens

22 Jan 2018 03:10 pm
going to need to push through 28 high of the day pretty soon and not come back down to or through the 25 area otherwise this could end up with a late day drop rather than a run up that could test 32 area. all afternoon 28 has been a tough area to cra

22 Jan 2018 03:16 pm
that ES needs to push to 28 in the last 45 minutes if it's going to have any kind of chance of poking its head over 30 instead of rolling over like it likely will benefit just stalls out a little longer. 25 potential breakdown area, must be held if a

22 Jan 2018 03:22 pm
the ES opened at the 2809-2809.50 initial pivotal support and kept going with 2 pullbacks of 5.50 and 5.75 points along the way and at the end of the day needs to try for the high and not go back to or below 26-25 and not turn right back up

22 Jan 2018 03:24 pm
heading for the 32-33 area possibly, if it doesn't get turned back from the 30 area, and should not pullback more than 3.50 and especially 5.50 points off of the high end of day or else things will be changing

22 Jan 2018 03:28 pm
only a token higher high by 1 tick so far over the 28 level and looks like it needs to get to at least 30 and then hold the 28-27 area afterwards and turn up again. If the ES happens to drop >5.50 points then a top of some sort should be in place

22 Jan 2018 03:30 pm
even though trend and momentum are up, I'd be careful buying new highs up here as they have not been able to hold for very long, and could see the rug get pulled out from underneath the market at any time.

22 Jan 2018 03:34 pm
reversal from a token higher high a little bit under the 30 level, and in the last 30 minutes a pullback >5 points or more could mean that a top has been made short-term.

22 Jan 2018 03:35 pm
have a great rest of your day. I'll update tonight and then meet you here tomorrow in the morning. Take care!

 


 

TradeStalker.com, Investment Advisory Service, Fort Wayne, IN

 

 


Disclaimerr:
The financial markets are risky. Investing is risky. Past performance does not guarantee future performance. The foregoing has been prepared solely for informational purposes and is not a solicitation, or an offer to buy or sell any security. Opinions are based on historical research and data believed reliable, but there is no guarantee that future results will be profitable.

We are not advocating trading futures. The prices and contracts in the TradeStalker's RBI Updates specify a manner in which you could trade. We occasionally mention the SP500 and Nasdaq futures markets because it is extremely liquid and tends to lead the other markets. This is not an endorsement or recommendation of the SP500 and Nasdaq futures markets. The risk of loss in futures is substantial. You can lose more than your original investment. We are not Registered Investment Advisors or Commodity Trading Advisors.


 

 

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