I will update around 6:55 a.m.
After Wednesday triggered a sell signal on the daily chart, yesterday was a bad follow-through day for the bears. The bears were hoping for a 3rd consecutive bear trend bar on the daily chart. If they got that, it would have increased the odds of at least 2 legs down. It did not. This therefore makes the Emini neutral going into tomorrow’s budget reconciliation vote and the upcoming vote on the Trump tax cuts. Today will likely continue yesterday’s trading range trading.
The Emini is down 1 point in the Globex session. After 2 big bear days, the Emini was in a trading range yesterday. With tomorrow’s budget vote to continue to fund the government, the odds are that it will be mostly neutral again today. However, day traders will always be ready for a strong breakout up or down. They will trade the trading range until there is a breakout.
Here are several reasonable stop entry setups from yesterday. I sometimes also show limit order entries and entries on the close of bars.
Add a Comment
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.