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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 - AUGUST 23, 2018

23 Aug 2018 09:02 am
Good morning. The market is going to be sold down to 57.50-56.50 area if 60.50 doesn't hold or turns down from 63-63.50 area or lower

23 Aug 2018 09:05 am
we have a couple of tops in place at yesterdays high area and 73-74 all-time high area, should not go over 68.50 or else then breaking double top possible but not likely

Tuesdays, Wednesdays, and Thursdays from 9:30am-11:30pm Eastern Time are our Live Audio/Visual Training 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 Aug 2018 11:47 am
reversal from a quick poke over 69 that came right back down and the market as then under pressure since then and stays that way unless the ES gets over 59-60 and not turned down right away

23 Aug 2018 11:50 am
with this going sideways at the moment it needs to take out 56 and not get turned right back up for another push on the downside

23 Aug 2018 11:54 am
has to take out 59 and hold 58 after in order for a decent bounce instead of a instant failure

23 Aug 2018 11:58 am
still going to fail at or under 60 and if so would need to come back down through 57.50-57 to reversed back down to or through the lows

23 Aug 2018 12:01 pm
the VIX went all the way down to 11.65 and reversed right around the same time that the ES topped out – a third high should be in place and should not go back up above 68-69 again – but if it does it likely would not stick

23 Aug 2018 12:06 pm
going sideways at the moment and needs to hold 56.50 area on the downside or else take out 59-60 area on the upside and stick either way to break it and not be a fake out move and reversed

23 Aug 2018 12:08 pm
sold just under 59 again but quickly turned up and now unless 59-60 is taken out aanother pullback then be for a better bounce attempt

23 Aug 2018 12:11 pm
with 59 touched and rejected, needs to be be broken at a minimum and then held otherwise still bearish down to the lows possible. However if 57 holds and 59 is broken, another pullback needs to hold 57 to avoid with the breakdown

23 Aug 2018 12:28 pm
The ES is finally breaking out on the upside the ES the ES broke out over 5960.50 resistance and pausing and 59-68.50 and needs to to take out 61 and not top out up here

23 Aug 2018 12:32 pm
the ES should have trouble around 60 to if it is reached and instead of turning down from 61.25 as that is the middle of today's range with a high and low in place it appears. Better odds of a lower low than higher high

23 Aug 2018 12:35 pm
up in this area is where a pullback should come from, just above 61.25 close yesterday, and hold under 61.50 and order to have a decent pullback from this bounce

23 Aug 2018 12:37 pm
would need to also come back down under 59 area again and not get turned right back up need to take out 59 current uptrend support pretty soon but stays bearish under 61

23 Aug 2018 12:40 pm
could be a bounce high in place. I will be back at around 1:30 hopefully at the latest but a few things need to be done during my break. I will update ASAP if something changes, but polling back again and 59 area pivotal area up here

23 Aug 2018 12:51 pm
pop-up and rejection just set up a good short if you thought that and another pop-up from 59 needs to happen although it should also be sold at a lower high most likely

23 Aug 2018 12:53 pm
59 still pivotal area on this pullback and should be broken through and if so need to hold at or under 60.50

23 Aug 2018 01:01 pm
would need to take out 60 and hold otherwise will go through 57.50-56.50 support area again and maybe lower

23 Aug 2018 01:16 pm
quick note that we have further breakdown going through 56.50 would be a breakdown area if this is going down to test or break 55 and possibly 52.50-51.50, maybe more

23 Aug 2018 01:28 pm
with the ES holding the 56.50 bottom of support zone after going above it around 11:50, should be even more important with that level holding 3 times.however all of the bounces are failing so far and another one should do the same if a run-up occurs

23 Aug 2018 01:35 pm
with a pop-up reversing from just under 60 it keeps pressure on to test or break the lows holding under 60 and taking out 56.50 support for especially. But expect pop-ups to fail and prices go lower

23 Aug 2018 01:42 pm
another pop-up from 57-56.50 support, however this bounce should also be sold at or under 60.50

23 Aug 2018 01:44 pm
bounces have then sold since the first hour of trading and that should continue although pullbacks also should keep holding over 56.50, but looking like it will break if reached on yet another trip down there.

23 Aug 2018 01:47 pm
yet another yet another run-up stopping at 59-60 area and coming back down again for at least a good scalping opportunity but could turn out to be more if 56.50 is taken out pretty soon

23 Aug 2018 01:57 pm
pop-up have been failing at the 59 updated resistance and pivotal area and unless the broken should test or break 56.50 with that being either the fourth or fifth time down there

23 Aug 2018 02:02 pm
good buying came in on the touch of 57.50 and another run-up to the 59-60 area but should hold now at or over 57.50 and turned up if it's going to avoid breaking down and attempting to breaks out higher instead

23 Aug 2018 02:15 pm
this pop-up made it to 60.50 prior pivotal support and this isalso 60 EMA, so far held 59.50 and what going back under that should mean a high in place and going back towards 57 possible

23 Aug 2018 02:18 pm
should take out 59.50-59 area on a pullback in order to break current uptrend and breakout area. It does not reverse unless comes down from 61 through 59.50 area

23 Aug 2018 02:20 pm
top in place with the stalling out and now breaking 59.50 and will stay under pressure holding under 6 feet area now, but have buyers comment on a somewhat shallow to around the 58.58 area but more than that and it could be headed to the lows again

23 Aug 2018 02:25 pm
ES turned up from the 57.50 support with some gusto and holding 59 prior high/pivotal level has been holding but right now bounces should still fail and there could be a decent sized pullback yet

23 Aug 2018 02:33 pm
need to keep making higher highs and go above 60.50 area and not get turned right back down, otherwise holding under that level has this and a vulnerable position for a breakdown if 60.60 is not broken in the next minute or two

23 Aug 2018 02:37 pm
pullback underway after the stalling out and breaking 59 and then holding at or under 59.50-60 gets the downside going a bit more at least

23 Aug 2018 02:39 pm
has to go up now and take out the bounce high area around 60-60.50 area or else have one more push to the downside that could get bid back up again

23 Aug 2018 02:42 pm
60 was rejected and as long as it's under 60-60.50 then pressure is on the downside at the moment and likely hold around 58 area if reached and turned up from that area

23 Aug 2018 02:45 pm
with this holding on a small pullback to the 59 breakout and pivotal area, beginning to get a better run-up and the 62.25 area is the middle of today's range which already has its high and low in place by all appearances

23 Aug 2018 02:48 pm
61.50 rejected back down to the 60 level so far and now need to bounce from 60-59.50 otherwise another pop-up is going to be sold into also. Should be if it holds are not

23 Aug 2018 02:52 pm
bounce high in place and any other bounce would only set up a good short as long as 61.50 bounce high is not taken out, and especially able to stick if it does. Should fail about halfway up

23 Aug 2018 02:55 pm
update in about 10 minutes, but any kind of bounce attempt from this 58.50 low and should go down to at least 57.50 top of 57.50-56.50 major zone again

23 Aug 2018 03:06 pm
another bounce failing and they all should keep doing this should still be having a quick pullback from around a bounce high, and then bid back up after pullback over. One of these could see buyers back away or begin selling their long positions

23 Aug 2018 03:09 pm
that looks to be the case more so on the NQ, as it has been having some pop-ups that get sold right back down again but still refusing to break down under 7438-7435 also and grinding higher at the moment

23 Aug 2018 03:12 pm
the ES has had two-sided action this afternoon between 56.50 support and 61.75-61.50 double top, and should take out and try to hold that area to avoid potential reversal

23 Aug 2018 03:15 pm
token higher high was sold so far and should not go back under 60.50 area and stick otherwise heading back to the down side and not another higher high

23 Aug 2018 03:19 pm
pullback needs to hold and bounce with some gusto from 59 prior breakout/pivotal area up here otherwise bigger pullback will, late in the day and likely will anyhow

23 Aug 2018 03:23 pm
this is more than just say small pullback like the others most likely, it should keep pushing lower and test or break the 59.50 low area and if that is also broken then 57.50-56.50 is major at the end of the day

23 Aug 2018 03:28 pm
still having two-sided action this afternoon between the 57.50-56.50 support and 61.50-61.75 area, and odds favor a late day breakdown instead of something on the upside that would actually hold. Bounces should still be sold and eventually have a bre

23 Aug 2018 03:31 pm
I will update this evening, and then catch you here tomorrow morning before the 9 AM open for regular trading hours. Until then take care and expect a token higher high to be sold or rejected and on the downside must bounce otherwise buyers back away

23 Aug 2018 03:38 pm
end of day roll over underway and a break and hold back under 57.50-56.50 area would be a bad finish to the day. That is a key support where there must be a good bounce to avoid further breakdown, which looks more likely anyhow

 

INTRADAY LOG FOR WEDNESDAY - AUGUST 22, 2018

HOW OUR TRADING DAY WENT: on Tuesday we nailed the all-time high. CLICK HERE to see a video recap that Ian did last night.

22 Aug 2018 08:52 am
Good morning. it looks like any lower open will be bought. But , but ideally at the 52.50 area and then would have 57-58 to get above and hold. If unable to do that, could go to around 52.500 or higher

22 Aug 2018 09:04 am
yesterday there was a perfect double top on the S&P 500 cash and a reversal day, so should have a hard time getting back up there so unless 63.50 broken and held there should be pressure on. Taking out 57-58 and holding needed first

22 Aug 2018 09:05 am
I will meet you on line around 9:30 and then update here a little bit after it is over.

Tuesdays, Wednesdays, and Thursdays from 9:30am-11:30pm Eastern Time are our Live Audio/Visual Training 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 Aug 2018 11:44 am
The ES made a double bottom around the 58 area and then broke and held 63-64 on the way to 68.50-69.25 and must break and hold over that zone to have a shot at yesterdays major high area

22 Aug 2018 11:47 am
the ES has been in a choppy but steady move higher went just a 2.25 point pullback after bottoming and turning up from 58, and should not go more than that on a pullback to have a shot at 73-74 area again, and instead of a top at this resistance, cou

22 Aug 2018 11:56 am
a test or break of 66 can turn this into more than just a scalp short and turn into a bigger move then we have been getting, so need to hold and bounce with gusto from that level or higher to another new high soon or bigger pullback underway towards

22 Aug 2018 12:00 pm
needs to make a higher high on this move at resistance or above to keep this move going and have another small pullback after again

22 Aug 2018 12:04 pm
bounce from 66 key support needs to make a higher high and still hold 66 or a little higher in order to keep uptrend intact and not more than just a ~2 point pullback

22 Aug 2018 12:06 pm
potential 123 top on a break under 67 not immediately turned up

22 Aug 2018 12:06 pm
I am shorting up here and stop above the high for now

22 Aug 2018 12:09 pm
the ES has a 123 top made just under resistance at 68.25-68.00 and unless broken and only a tiny pullback holds around 86.50 or higher good meeting continuing a grind higher, otherwise could be rolling over if 66 area broken

22 Aug 2018 12:10 pm
38.50-39.25 area needs cleared and only have a small pullback hold at or above 67.50 area after that, or is going to top out for a pullback of some sort up here

22 Aug 2018 12:14 pm
coming down through 64 without a strong rebound keeps this as a top and a bounce that follows should also fail. The ES and the Dow cash are finally in sync heading lower

22 Aug 2018 12:16 pm
noted it was a short with a stop under the high and 64.50-63.50 area a target and pivotal support as they break and hold under that area can start bigger pullback and transition back to the downside

22 Aug 2018 12:18 pm
I am going to be oh way until around 1:15 for a little after, but will update if necessary if not on a call or otherwise tied up. Bounces should keep failing at or under 68.50-69.25 resistance, and really should not see the high at again before going

22 Aug 2018 12:18 pm
I will update again around 1:15-1:20

22 Aug 2018 12:39 pm
a bit like at yesterdays highwith the ES making a 123 top and turning down and can get more mmomentum taking out 64.50-64 and not getting turned right back up and test or break 61.75 where good buying came in earlier

22 Aug 2018 01:08 pm
this is about to roll over again and test or break 63.25-62.75 area which would be a breakdown area further if not able to go back over 65-66 after that at the very highest. Under pressure under 66.50 right now

22 Aug 2018 01:19 pm
the Dow cash just made a double bottom, so far coinciding with a low 1 tick over the 61.75 support and is trying to get turned back up. Need a move back over 65-66 area otherwise topped out just under resistance. we get the the Fed minutes in just un

22 Aug 2018 01:28 pm
needs to keep going up through 65.50-66 area and then a hold 64.50 after in order to have a chance of going back up towards the highs and not another pullback from top of this range

22 Aug 2018 01:33 pm
need to stay above 64.50 otherwise could be another pullback to test or break 63 area instead of continuing up over 66-66.50 before a reversal of some sort

22 Aug 2018 01:42 pm
with 20 minutes before the Fed minutes get released, needs to get over 66 and not get turned right back down to avoid a top of some sort by taking out 64.50 and holding under 65-65.50 area on a bounce after that

22 Aug 2018 01:48 pm
going with the Dow cash which has been weak all day and the ES should stay bearish holding under 65.25 area now

22 Aug 2018 01:50 pm
the Dow cash has been happening a trend down day and the only average that's down so far and overbought extremes on indicators still coincide with the all-time highs yesterday and this should be a bounce that is failing around 75% retracement

22 Aug 2018 01:52 pm
new lows on the Dow cash, the ES should follow holding under 65-66 area on any bounce attempt – that breaking and holding over unless headed to work through 68.58-69.25 area and then coming down the again. Fed minutes and about 7 minutes

22 Aug 2018 01:56 pm
after the Fed minutes are released the Dow cash will need to go over 25,788 area in order to break its downtrend, and it should keep at/under the ES under 68.50-69.75 which is just above the 68.25 high of the day

22 Aug 2018 02:02 pm
can get one more bounce as long as 65.50-65 is not broken

22 Aug 2018 02:03 pm
should be going for 39 area or a bit more

22 Aug 2018 02:04 pm
68.50-69.25 area, and would need to hold and bounce from around the 66-65 area at worst

22 Aug 2018 02:10 pm
run-up stopped at 68 and making a double top at this goes back under 65 and not get turned right back up. Good keep going down under 63.50 and have a bigger breakdown underway that may last a while this time with all bounces failing

22 Aug 2018 02:11 pm
we have a major top and yesterday and today a double top under the high that should be important bounce resistance now, and keeps this in a bigger picture topping pattern with a lot more to go on the downside if correct on this so stay with shorts

22 Aug 2018 02:14 pm
we had the VIX go all the way down to 12.03 so far today, and another move under 12 that gets turned up should be another top for the market. This is what happened before the last decent drop happened several weeks ago

22 Aug 2018 02:16 pm
for the rest of today, a move over 12.21 would likely mean that the ES has taken out 63 and on its way to test or break 58-57 area again, or around the 60.50 area at a minimum if they break down and the VIX reverses that much. Stay way shorts bounces

22 Aug 2018 02:20 pm
further breakdown with no sign of a turn until now with a brace under the bottom of the afternoon range and should keep going with the Dow cash lower. A bounce could go just a little bit and not take out 65.50 area

22 Aug 2018 02:23 pm
62.25 pullback low so far is right in the middle of today's day session range and going through that should keep going down through 60.50 area– 58-57 area if broken and not reversed

22 Aug 2018 02:26 pm
58-57 will need to hold otherwise a chance it could keep going as far as the 52.50-51.50 area

22 Aug 2018 02:30 pm
a quick upturned from the 60.50 updated support and will need to hold 60.50-60.00 the remainder of the day in order to avoid and of day trouble for the market. First herbal to get back over and hold is around 63.50-64.50, or else it's just a bounce

22 Aug 2018 02:36 pm
so far just a small pullback from 63.25 holding at 62 so far and has to take out 63.50-64 without getting turned right back down or else one more leg down can happen easily

22 Aug 2018 02:41 pm
topped out and turning down from 63.50 bounce resistance and should be going back down to test or break 60.50-60 area and if unable to hold and double bottom then on down to order through 58-57 and set of a bounce back of some sort

22 Aug 2018 02:43 pm
pressure is going to stay on unless the ES can pop back over 63.50-64 area without turning right down another time – heading to or through 60.50 or more

22 Aug 2018 02:45 pm
at the moment there's a chance for a run-up if 62.50 area is not broken down through soon

22 Aug 2018 02:50 pm
can still go down to or through 60.50 holding under 63 at the highest and could even take out 58-57 if Broken down with gusto– not used as a launching pad to the upside

22 Aug 2018 02:52 pm
which would need a move over 63.50-64 and then hold 63 area after that in order to attempt a turnaround on the upside and set up what could be a decent sized breakdown instead

22 Aug 2018 02:54 pm
appears the ES wants to hold 61-60.50 area and take out 63.50 and if so will need to get going higher with some energy otherwise could break under this support area

22 Aug 2018 03:08 pm
only a feeble bounce so far and rolling over a bit and will need to hold around 62.50 at worst or else go back down to corkscrew 61.50-60.50 major area to hold the rest of the afternoon

22 Aug 2018 03:20 pm
although the ES has been holding around the 63 area on pullbacks, that could be taken out and if so had back to test or break 61 area or more. Must take out 65 and hold 63 or roll over possible

22 Aug 2018 03:24 pm
at the end of the day the ES can avoid a breakdown and keep its uptrend intact as long as it does not go back under 63.50-63 area at the very most or it will have been reversed. It has a shot at the 66 area and possibly back up to 68 or higher if thi

22 Aug 2018 03:25 pm
possibly back up to the 68 area if this upside action continues.

22 Aug 2018 03:26 pm
have a great rest of the. I'll update this evening and then in the morning pretty open. Until then take care!

22 Aug 2018 03:27 pm
late day drop certainly not out of the cards if they break under 63 by much without immediate turned up. Take care

 

INTRADAY LOG FOR TUESDAY - AUGUST 21, 2018

21 Aug 2018 08:59 am
good morning. The ES is going to open higher instead of lower like I thought under current market conditions and either at or possibly above 63-64, which needs taken out and held around 62 or at least come down to 60.75 and fill that gap at yesterday

21 Aug 2018 09:03 am
if the VIX drops below 12.20 and turns up it would be a red flag though. Needs to go over 12.50 and stay to have pressure on

21 Aug 2018 09:05 am
look for a drop has long as holding under 63-64 down to 60 area or more early

21 Aug 2018 09:07 am
I will meet yo online around 9:30. Look for first decent pullback to be bought if 57 holds

Tuesdays, Wednesdays, and Thursdays from 9:30am-11:30pm Eastern Time are our Live Audio/Visual Training 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 Aug 2018 11:52 am
making a tiny double top and reversing at 69.75 and then going sideways but being sold on the pop-ups and finally dropped to the 64-63 prior resistance/breakout area and just made another double top

21 Aug 2018 11:54 am
and will need to break down under 68.50-68 without turning right back up if it's going to break down instead of trying for the 72-74 area and around 2872.87 on the S&P 500 cash

21 Aug 2018 12:00 pm
a good uptrend and momentum as long as holding above 68.50-68 area which is pivotal area up here and if held there is a chance of getting to 72-74 area on the ES, a target holding over 69.50-68.50

21 Aug 2018 12:06 pm
backing away from the 72 area and needs to have just say small pullback and go through 74 area in order to get a new high on the S&P 500 cash index

21 Aug 2018 12:17 pm
the S&P 500 cash has so far stopped about 1.60 points under its all-time intraday high at 2872.87 so far, while stalling at the 72-73.50 area. It's in a strong uptrend, so right now should be in a very strong uptrend holding 71 area and should pullba

21 Aug 2018 12:17 pm
Going over 72-73.50 could cause either grind up higher, or buyers back away and the market comes down under 71 and goes to test or break 68.50-68 area at least

21 Aug 2018 12:25 pm
I will be away until around 1:15 or thereabouts, but update you if necessary and I am not caught on a phone call.was the ES coming down to 70.50, would need to have follow-through and another push lower just to get to the 68.50-68 support

21 Aug 2018 12:47 pm
the ES will need to avoid a reversal back down from 73.25 or else a bigger picture double top could possibly be in place. Has to take out 2874 area up here and then hold and turn up after a pullback of 2 points or less to keep this going in a steady

21 Aug 2018 12:47 pm
the ES will need to avoid a reversal back down from 73.25 or else a bigger picture double top could possibly be in place. Has to take out 2874 area up here and then hold and turn up after a pullback of 2 points or less to keep this going in a steady

21 Aug 2018 01:06 pm
the ES could be making a top at the 74 resistance and will be the case if the ES goes back under 72 and not boounce back with gusto and make a higher high

21 Aug 2018 01:11 pm
this could go as far as 68.50-68 area but no further otherwise a bigger breakdown would be underway. This market is now a good short under 74 resistance

21 Aug 2018 01:15 pm
3.25 point pullback is the biggest of the day not counting the move from the early high dropping to the 64-63 new support and breakout zone. Bounces should have trouble holding and should stay under 74 now

21 Aug 2018 01:32 pm
still bigger uptrend but not impressive bounce back towards the high and should be sold under 74 on the ES on this bounce attempt and then if another move down goes through 71-70.50 a top would likely be in place then. But right now looking for a pot

21 Aug 2018 01:45 pm
double top of sorts at the moment on both the ES and the Dow cash and should be another pullback of a couple of points from this high before another bounce attempt

21 Aug 2018 01:46 pm
the NQ also is rolling over from a much lower high on its rebound from the last pullback and it could break down taking out 7436 and not getting turned right back up over 7442 and stick

21 Aug 2018 01:49 pm
the NQ should not go back over 7444-7445 and the strong enough to hold, unless all of the averages are going back up to test or break their highs, that's 7452.25 on the NQ

21 Aug 2018 01:55 pm
with the market having a high percentage of making turns within 1-2 days maximum after reaching across-the-board extremes on internal gauges, a turn should be starting or will start tomorrow at the latest. Careful on the long side up here, as the 74

21 Aug 2018 02:03 pm
the VXX should begin to jump up also if the VIX begins to jump from its 12.12 afternoon low which should not be seen again today at least. buying it at 29 or better should pay off like last time although maybe not as much so fast

21 Aug 2018 02:03 pm
top should be in place on the averages also across-the-board and an afternoon pullback underway

21 Aug 2018 02:06 pm
could be a bounce attempt again from this area but if so should not stick

21 Aug 2018 02:10 pm
the ES went to just over 70, and needs to take out 68.50-68 area and then hold under 71 -72 area at most and turn down again.. Past two take out 71.50 and stick to get into neutral up in this area

21 Aug 2018 02:19 pm
ES is going to need to hold 70.50-70 or else go right down to 68 area where must reversed back up above 71 and stick if it does breakdown that far. Unless 72-72.50 broken/held then can come back down to or through that 70.50-70 area

21 Aug 2018 02:30 pm
the ES has been going sideways just under 72 and unless 72 is broken this remains vulnerable to test or break 68 area

21 Aug 2018 02:36 pm
so far 68.75 was reached and it's the 68.50-68 zone that should be broken through in order to get a bigger pullback going as long as a bounce that follows holds at or under 71 area at most now

21 Aug 2018 02:45 pm
a double top on the Dow cash, a 123 type top on the ES at 74.00-73.50, and a weaker NQ at the highs. This is timeframe for a rebound, and must go back over 70.50-71 area and then hold after a small pullback and turn up again, or still can go through

21 Aug 2018 02:50 pm
or still can go through 68 area and if that happens then bigger breakdown underway holding under 71 on a bounce or just holding under that level

21 Aug 2018 02:52 pm
if this keeps going down through 66.50 area then the door will stay open to continue this drop down to sort through 64-63 which should be major support the rest of today and into tomorrow. Overbought top should be in place

21 Aug 2018 03:00 pm
so far the ES has held just over the 66.50 updated support however unless 68.50 is broken above and able to hold then the door is still open for a move to or through 64-63 before the end of the day

21 Aug 2018 03:10 pm
ES needs to continue holding 68 area and get over 70.50 without turning right back down or else could go back to test or break the low area – although the 3 PM reversal could be meaningful

21 Aug 2018 03:15 pm
I need to cut out a few minutes early today however with the topping patterns made at the highs today and right at a token new all-time high, along with having overbought extremes, either we have a top in today or tomorrow afternoon at the latest whe

21 Aug 2018 03:15 pm
this will be a short to hang onto for a while if you happen to get short at higher prices especially. Should not see 73-74 again tomorrow

21 Aug 2018 03:18 pm
to avoid end of day pullback and try to bounce back instead then would need to take out 68.50 and hold 68 at lowest while heading up through 70.50 and sticking up there. Have a great rest of your day

 

INTRADAY LOG FOR MONDAY - AUGUST 20, 2018

20 Aug 2018 09:23 am
Good morning. Higher open should be sold around 57-58 if it's going to. if 58 is broken before the open it will need to hold 57 or else keep coming back to 55 or more. Taking out 55 and not bouncing

20 Aug 2018 09:24 am
area and not bouncing back over 57 either goes to 52 and turns up again with gusto or else could be a pullback

20 Aug 2018 09:27 am
in any case 57-58 key area and already sold early and so needs to come down and take up 55 area and stick. I'll update the low bet after things have open and topping or in a trend

20 Aug 2018 09:35 am
55 held on the pullback from 57 resistance and if 55 is broken then a bounce that follows should be a short. A move over 58 will need to hold 57 area if it's going for the major 63-64 zone

20 Aug 2018 09:39 am
58.50 high so far and needs to hold 56.50 or else another bounce after should be sold and better pullback taking out 55 underway and not taking out 58.50 and attemptingg major area 63-64

20 Aug 2018 09:41 am
56.75 current uptrend support that needs to hold or else another bounce after should also be sold into and a top could be in place instead of attempting 63-64. Should be good short up here with a tight stop over the high

20 Aug 2018 09:42 am
especially taking out 56.75 and not running right back up

20 Aug 2018 09:46 am
top should be in and should come down through 55 and go for the 53.50 area or more before bounce attempt

20 Aug 2018 09:50 am
sold at 58.50 and came down to 55.50 and still need to take out 55 in order to have a high in place for a while, if reached and not quickly reversed. If there is a higher high then need to hold 57

20 Aug 2018 09:50 am
should be heading to work through 55 now

20 Aug 2018 09:58 am
only over 58 top of resistance amillisecond before coming down and then a failed bounce at 57.50 resistance and unless 57-58 broken and held market stays under pressure. Still should come down to or through 53.50 and if broken by much that 52 less

20 Aug 2018 10:02 am
should be important low area with the bounce off of 53.50, must not break that or else a bigger breakdown could be underway. should try for test or break of 57-58 or just below that area

20 Aug 2018 10:06 am
back to resistance and 56.50 area needs held and quickly turned up at worst if going to have any chance of getting through this selling area

20 Aug 2018 10:11 am
with 56.50 broken double top at resistance should be intact and had to work through 54.50-53.50 area or lower

20 Aug 2018 10:15 am
double top at resistance back to the low and should keep going to 52.25 area next which must hold otherwise could keep going under 50 and a hold under that area could be a bigger picture move in gear

20 Aug 2018 10:19 am
52.50 low so far and needs to keep going up above 55.25-56 at least and then only have a small pullback hold and turned up

20 Aug 2018 10:24 am
to avoid what could be a bigger breakdown the ES needs to hold 52.50-52 area and the Dow cash hold 25,750 – and to have a chance at the highs need to keep going over 55.50-56 that most and not get turned right back down

20 Aug 2018 10:32 am
bounce high at 56 and a test of the low needs quickly turned up otherwise figure breakdown if 50 is taken out and holds under 51.50 and back down AEN

20 Aug 2018 10:37 am
another pullback from 56 needs to hold at another higher low above 53.50, or else could be rolling over holding under 55.50 on any bounce attempt

20 Aug 2018 10:40 am
looks like 54 needs held or else can take out the low and keep going to or through 51.25 bottom of Friday's closing range

20 Aug 2018 10:41 am
or lower taking out 50 area

20 Aug 2018 10:47 am
51.25 so far as held by 2 ticks and unless a bounce back of takes out 54.50-55 without turning down then another token lower low and possibly a breakdown to or through 50 area

20 Aug 2018 10:59 am
the way that the VIX is acting, top was made with a reversal up from 12.34 and so far only went to 12.64. Should go over 12.68 and stay over that to have more pressure on and be some trouble if not have 5 minute reversal bar back down from above tha

20 Aug 2018 11:02 am
from above that. With 51.50 reached, could be a low if 54.50 broken and not turn right back down.

20 Aug 2018 11:11 am
a pullback that can hold 53-52.50 area and take out 54.50 with out getting turned down has a chance of breaking Federer downtrend from the high and try to take out 56 and if no rejection test or break double top but not stick if it does

20 Aug 2018 11:22 am
a move over 56 needed next or else getting close to double top at resistance and one more push higher could get the ES backed up there where it should be sold again. Will end up being a bounce high holding under 56 and breaking down under 53 it looks

20 Aug 2018 11:28 am
to stay in a choppy range and make another move on the upside 53 must keep holding and keep going up over 56

20 Aug 2018 11:30 am
stays strong at or above 54-53.50 now

20 Aug 2018 11:34 am
should take out 56 and then possibly back up to 57-58 resistance, which should be hard to get through and hold unless headed towards 63-63.75 area today, which is doubtful today at least. Should be topping again soon

20 Aug 2018 11:41 am
testing or breaking the high as long as 55.50-55 area is not broken back below and then held

20 Aug 2018 11:48 am
if the ES is going to make a lower high and roll over then it should come from this stalling out and taking out 56 and not getting immediately turned right back up again. Going to attempt 58 area otherwise

20 Aug 2018 11:50 am
57.25 resistance at 57-58 being rejected but still needs a break under 56 for a high to be in place and not just a tiny dip in and uptrend

20 Aug 2018 11:55 am
resistance being rejected a little bit and needs to hold 57-56.50 area especially to keep a good uptrend from a possible breakdown a bit further

20 Aug 2018 11:57 am
55.25-54.50 important to hold or else a double top/triple top at resistance that needs to be broken//held above to avoid a bigger pullback/drop.

20 Aug 2018 11:59 am
if the internals were to close where they are now I would have across-the-board overbought extremes on all short-term internal gauges. It's going to be difficult making much more upside and holding. Update in 7-10 minutes

20 Aug 2018 12:07 pm
pullback supportheld that 55.50 and is back at the high at again and can go through although may not hold on this move up and needs to continue holding 55.50

20 Aug 2018 12:12 pm
needs to continue to holding 57 area or else could be reversing back down again for a pullback of some sort

20 Aug 2018 12:14 pm
I am willing to be away until around 1:10-1:15 but will update if possible if necessary ASAP

20 Aug 2018 12:15 pm
at the moment beginning a small pullback from token higher high

20 Aug 2018 12:16 pm
on a move under 57.50-57 prior resistance/new pivotal support up here around 57

20 Aug 2018 12:52 pm
the ES is rolling over from its token higher high at 59 and a drop under 57 that is not turned right back up over 58 and hold can get this in a new downtrend and heading to or through 55.50 area again

20 Aug 2018 01:00 pm
reversal back up from 57.25 prior resistance /new support on the ES gave a another run-up to another token higher high so far and if this keeps holding 58-57 it will avoid reversing and the door stays open for the 63-64 area or higher

20 Aug 2018 01:19 pm
after after stalling out under the token higher high the ES just reversed and there should be a high and place break under 57 and hold at or below 58 after that especially

20 Aug 2018 01:24 pm
57 area turning into an important support to hold in order to avoid a decent pullback of some sort, and keep the door open for a test or break of the high area now, although should fail under 59.25 and set up a double top or 123 of some sort

20 Aug 2018 01:33 pm
token higher high should be sold but only a tiny pullback that holds 58.50-58 most likely

20 Aug 2018 01:39 pm
appears to want to go for 63-64 area if it can hold its strength the rest of the afternoon. New all-time high on the S&P 500 cash would need to take out 2872.87, and around 72-73 on the ES. Don't think we will see that, and maybe even 63-64 area, wit

20 Aug 2018 01:41 pm
can get another small ~2 point pullback but should not go much further otherwise upside symmetry could be broken and market structure broken on downside

20 Aug 2018 01:44 pm
1.25 point pullback so far and needs to take out 59.50 or else or through 57.25 area which could begin a better pullback if broken and held below, not looking likely at the moment

20 Aug 2018 01:52 pm
a tiny double top at the moment and a pullback >1.75-2.25 points could mean that a high is in place for a bit at least and another bounce should not go far before failing again. stalling out long enough

20 Aug 2018 01:56 pm
58 area has been holding as new support, so for now as long as the ES is over 58-57 is going to keep on going to war through the 63-64 area on the ES next

20 Aug 2018 02:04 pm
beginning to push a bit higher reaching 60 so far and 63-64 is the major area to get over today and a failure under that area and break of >2.25 points it could be the start of more than just another small pullback

20 Aug 2018 02:06 pm
beginning to get a little top-heavy finally coming down from 60, but needs to go under 58 at a minimum in order to break upside symmetry and also began to chip away at 58-57 old resistance/new support which needs broken and held under

20 Aug 2018 02:13 pm
pop-ups should come from 58 or higher otherwise there could be a breakdown of some sort especially taking out 57 and then holding under 58 and back down on a bounce attempt after that

20 Aug 2018 02:18 pm
58.50-57.50 is new pivotal area and support unless 57.50 broken and then 58.50-59 is held at or below to turn this from man uptrend to a new downtrend. 58.50-57.50 area still good support at the moment

20 Aug 2018 02:35 pm
token higher high and this one might have trouble being broken and held and that is with the Dow double top and also and should be a short just a little over the high especially if >1.75 point pullback

20 Aug 2018 02:37 pm
has to hold 58.25 otherwise a bounce that follows should not make another new high before coming back down again. Might just keep going through 57.50 area and start a breakdown attempt holding under 59 on a bounce

20 Aug 2018 02:50 pm
2807.50 low is the largest off of a high made after noon and bottom of prior resistance and coming back down through that area can also pick up some momentum holding under 59 on any kind of bounce attempt after a breakdown. However, if held another p

20 Aug 2018 03:00 pm
with this turning back up from 57.50 it should hold under 59 if it's going to break down through 57 area and also break a bunch of pullback lows on the Dow cash, around 25,758 area

20 Aug 2018 03:04 pm
currently a thinly traded market but 59 was rejected, and probably should holds at or under that area and come down under 57.50 area is going to be a late day drop

20 Aug 2018 03:13 pm
turning up from a little double bottom at 57.75 and now unless 57.75-57.50 area is broken market avoids late day pullback, a chance at the high but will need to since9 without coming right back down keeping some pressure on

20 Aug 2018 03:17 pm
going through 60 and holding should be hard to do up here, as buyers should be backing away around the 63 area or a little under, and less on its way through resistance going towards all-time highs another 8-10 points higher

20 Aug 2018 03:23 pm
double top and should be a breakdown if the 59 level is broken down through and not turned back up with some gusto. A chance for a higher high holding 59

20 Aug 2018 03:26 pm
token higher high should be sold and come down again to you around 59 or a little bit higher if it's going to stay strong

20 Aug 2018 03:36 pm
in the last 30 minutes that ES will need to hold around 59 otherwise could come back down to test or break 58-57.50, and that should be pivotal if reached. Otherwise, could continue grinding higher but not sure this will hold up into the close. Would

20 Aug 2018 03:41 pm
have a nice rest of the day. I will meet you here in the morning with a quick comment. pretty sure indicators will be at or very close to across-the-board extreme overbought readings. We'll see. Take care!

 

INTRADAY LOG FOR WEDNESDAY - AUGUST 15, 2018

15 Aug 2018 09:00 am
good morning. After bouncing yesterday and working off oversold status of my indicators,the ES should not go up past 27 to have another breakaway gap on the downside and the picture getting more downside momentum

15 Aug 2018 09:03 am
watch the 20 area if reached early the says if that is broken there won't be much of a rally it's looking like. Bounces should fail again today.

15 Aug 2018 09:04 am
I will meet you online around 9:30 and then update a little bit after the live session is over

15 Aug 2018 09:24 am
27-28 to clear/hold or 21-20 break/ hold 22

Tuesdays, Wednesdays, and Thursdays from 9:30am-11:30pm Eastern Time are our Live Audio/Visual Training 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 Aug 2018 12:05 pm
ES needs to hold at or under 13 area and not get turned down after stalling or rejecting that area if reached, and head towards support at 2804.50-2803.50 major pullback support over 2796-2795

15 Aug 2018 12:10 pm
12-13 a pivotal area today and unless broken and held longer than 5-10 minutes then it will stay in a trading range at best, but if taken out and not turned right down again then could go to or through 18-18.50 area

15 Aug 2018 12:19 pm
pullback from 13 held above 10 and turned right back up and broke 13 area and needs to hold 13-12 or else instead of going towards 18 go to war through 10 and maybe 2808.50

15 Aug 2018 12:24 pm
bounce high at 14.50 and 16.25 and was only over 14.50 for a 2 minute stall and reversal and needs to keep going up through 14.50 and hold 14 area in order to go for 18 and possibly 21

15 Aug 2018 12:26 pm
I will be away until around 1:20 but will update if not tied up ASAP if necessary. At the moment it is a scalp short under 16.50

15 Aug 2018 12:30 pm
13-12 area is a new pivotal support that must hold instead of being broken and held under if going to attempt reaching 16.50 and 18-82.50 possible before the 21-22 zone

15 Aug 2018 01:06 pm
That ES made it to the resistance at 18.50 and struggling and stalling out and will need to break 14.50 and go down to or through 13-12 to break uptrend from the low. 21-22 area next target/resistance

15 Aug 2018 01:18 pm
with the ES poking over 18.50 and coming right back down, that should be a bounce high and taking out 14.50 area could start a breakdown attempt and going back under 11.50 area without immediate turn means a test of low area or a bit higher

15 Aug 2018 01:34 pm
after coming down through 14.50 that was held on a bounce attempt and made another token lower low so far at the 2811 level and it should not go any lower and then holds under 13 area after 2 feet breakdown attempt contact from here – hold under 14

15 Aug 2018 01:45 pm
the ES has had a 9 point pullback and 8.25 point pullback so far today and the ES should not go under 11 again, or especially 10.25 now to have a low in place and try for 118.50 again and possibly as far as 21 area

15 Aug 2018 01:49 pm
ES looks like it stays under pressure holding below the 14.50-15 area right now down to Lord through 10.25 possible to break down further rather than going sideways and back up again

15 Aug 2018 01:59 pm
pressure will stay on and can rollover further holding under the 15 area much longer

15 Aug 2018 02:01 pm
should go to at least 10.25 and if 2808 area not held then the 2804.50-2803.50 support updated earlier this morning

15 Aug 2018 02:02 pm
just consider this bearish and a short under the 13 area right now heading to 4 through 2808 area

15 Aug 2018 02:02 pm
2808.50-2808 area for lower

15 Aug 2018 02:12 pm
a little pop-up turned down at 13 updated resistance and just reached 2808.25 target/updated support and still going to go lower as long as it is holding under the 10.50-11.50 area now

15 Aug 2018 02:18 pm
we have had some big moves in the VXX that I recommended buying when it was around 28 and almost at its low if not at its low, I can double check. Anyhow it's up 12.6% for the day at the moment was ready for a move like this from way down at 10.17 j

15 Aug 2018 02:26 pm
should have a bounce high in place at 2805.50 prior low area and should be pivotal area the rest of the afternoon and they top for a move to or through 2806 area or more

15 Aug 2018 02:31 pm
need to make a double bottom and take out 10.50-11 area and stick, but doesn't look like it well and should fail and come down to test or break 2803 area and maybe 2 the 2796-2795 area

15 Aug 2018 02:43 pm
double bottom was made at 2806 and took out 2810.50-2811and can go over 12-13 area or attempt to, but should have a hard time holding the way the market has been acting

15 Aug 2018 02:46 pm
needs to take out 12-13 area and then hold around 12 on a dip after that, otherwise all bounces will be suspect and likely sold as soon as upside stalls or shows rejection with a quick downturn after moving higher

15 Aug 2018 02:57 pm
3 bottoms at 2806.75-2806.00, and fairly holding on, would need a move over 12-13 hold and the VIX fell under 15.90 (currently at 16) and stick, otherwise spelling out should lead to a pullback at least to a pullback at least

15 Aug 2018 03:00 pm
the market has turned the bullish again in the last 90 minutes with the ES bottoming and turning up at 2:30 PM, pullbacks should hold and continue moving up to 4 through 13 and if broken then should hold 12-11 at worst before turning back up

15 Aug 2018 03:01 pm
or else topping out again for a while at least.with horrible internals, and the VIX reversing from very high level, this bounce should be able to hold today

15 Aug 2018 03:11 pm
18.50 area should be important area under the 19.25 bounce high ands 7 then this bounce can be in the and coming back down to test or break 13-12 area and must hold to avoid late cascade

15 Aug 2018 03:19 pm
the high for the day was made after the 15+ point lower open had a 10 minutes bounce turned down from 1 tick over the 26.50 major area for today, and that is the early high and so far and afternoon double top around 18.50-19.25 area will need taken o

15 Aug 2018 03:21 pm
to finish the day up there, which doesn't look likely unless there's a sudden burst to the upside. Must take out that area or else risk breaking 13-12, and if that happens with momentum then could go back towards 2810 or more

15 Aug 2018 03:23 pm
in the last 30+ minutes the ES will need to get back above 16 and stick at or above that area otherwise risk taking out the 13-12 area and further breakdown possible

15 Aug 2018 03:25 pm
however if 2816 is taken out and holds, then could keep going up to test or break 19 and possibly 22-23

15 Aug 2018 03:29 pm
enjoy the rest of your day.. it's looking like the ES does not like it over 16.50 at the moment, and if not broken this can go through 13-12. Enjoy the rest of your day!

INTRADAY LOG FOR TUESDAY - AUGUST 14, 2018

14 Aug 2018 09:17 am
Good morning. The market is coming down into the open and should be in another bounce.

14 Aug 2018 09:20 am
I will need to leave this morning a little bit after 10 AM. I have an appointment I want to rush right back from

14 Aug 2018 09:21 am
I will update the little bit after the open and let you know before I take off

14 Aug 2018 09:36 am
it looks like pullback of some sort if 30 is broken below and should have trouble reaching 35 and holding very long less a very strong start

14 Aug 2018 09:40 am
a bounce from 30.50 so for and needs to stay above 30 or else a decent pullback could begin and unless 33.50 area broken and held pullback is likely

14 Aug 2018 09:47 am
30.75 held on another dip and turned up and at 34.50 at the moment and would need to come back down under 32.50

14 Aug 2018 09:50 am
unless 35 able to hold going to reverse under 30 and follow the NQ lower

14 Aug 2018 09:55 am
oversold bounce could be over for a while if this bounce turns down from 32.50-33.50 or lower

14 Aug 2018 10:00 am
I need to go for now but as long as the ES does not get back over 35 and hold 33.50 after then a top likely in place for a while

14 Aug 2018 11:14 am
a turnaround Tuesday so far with this making it to 42 so far, 50% retracement from 63.75 to to yesterdays 20.00 low, and just under important resistance around yesterdays 43.75 high at an area on the chart to get through next, or break 38.50 and stic

14 Aug 2018 11:20 am
backing away from high area it has backed away from the last couple of days and could be a top if this comes back down through 36-35.50 and not turn right back up. –I just got back and thought I should send a quick update scene where prices were, a

14 Aug 2018 11:42 am
pullback so far bounced from 36.50 up to 40.25 and and backed away before another bounce, and need to hold 36.50 area for a shot at the 42 area or higher – should be some selling unless broken above and hold 40.50 area after

14 Aug 2018 11:45 am
with almost across-the-board extreme oversold condition the ES should avoid any trouble now as long as it does not go back under 37-36 with out turning right back up again. But still could be sold around resistance or just below for a topping pattern

14 Aug 2018 11:57 am
backing away again from 41 this time and a move to or through 36.50 is likely and could go as far as 35-34.50 before any kind of bounce attempt a possibility

14 Aug 2018 12:03 pm
37-36.50 area still holding and unless broken below and held then the door to or through 43.50-44 area

14 Aug 2018 12:16 pm
still stalling out at the 41 level and just under major area and here at 42.50-43.50 which would be a token higher high that would need to be broken and also held but should still hold at or over 37-36.50 or else would be a high in place instead.

14 Aug 2018 12:19 pm
I am going to be away until around 1:15, but if not caught on a phone call or whatnot I will update ASAP – if necessary. Right now needs to take out 42 and not turn right back down again to attempt breakout higher which should fail

14 Aug 2018 12:52 pm
token higher high at 43 was reversed has stated it could, but could still make another push higher if it can hold at or above 39-38.50 area at worst it looks

14 Aug 2018 01:23 pm
is coming down from 43 and a break back under 38.50 resistance/new support broken then keeps going to work through 36.50-35.50 and a key support area up here

14 Aug 2018 01:28 pm
should be a bigger picture short with a stop over 43.50 resistance for today, and pressure stays on under 40.50 area for a possible breakdown. The VIX has already turned up and going up since turning up at 11:15 AM

14 Aug 2018 01:30 pm
key support to keep this from a breakdown at 38 holding at the moment, needs to be broken under and then held as resistance again to get a breakdown from short-term major area

14 Aug 2018 01:42 pm
should be a bounce high in place at 40.75 if this is going to roll over and test or break 38 area

14 Aug 2018 01:52 pm
the ES has traded between 36.50 and 43.00 since 11:20, and actually earlier starting at 10:45 after 36.50 broken/held on the way to 42 and back to 36.50 again. ES currently stuck between 41 and 38.25 – coming down through 38 without instant reversa

14 Aug 2018 01:55 pm
without an immediate reversal goes to 36.50 and if it goes through then through 33.50 area possible possible. A move over 41 needed for a token higher high right at 43-44

14 Aug 2018 02:04 pm
with my internal gauges reaching oversold extremes, and this morning the VIX spiked up to 14.22 and dropped >1 point down to 13.14 so far. Dropped from 13.51, and is bullish unless 13.51 broken above/held. Pullback from 43.50 top of resistance, stays

14 Aug 2018 02:04 pm
Pullback from 43.50 top of resistance, stays bullish rest of afternoon holding over 40-39.50 area maximum

14 Aug 2018 02:06 pm
should be no more than a 4.50 point pullback from this higher high if the pullback symmetry is going to stay intact and not make it so all bounces began failing

14 Aug 2018 02:14 pm
39-38.50 needs to be taken out on another push lower from this hold under 42 in order to have a top in place and not just a pullback again

14 Aug 2018 02:23 pm
at the moment the internals are pretty strong and closing this strong will get them out of extreme oversold territory easily. with these rejections of 42--43 area just under important resistance should end up with a decent pullback

14 Aug 2018 02:25 pm
pullback underway and unless a quick turn back up from 39.25-38.50 area then can keep going to or through 36 and then 34.50 would be a key area if reached

14 Aug 2018 02:28 pm
should have some pressure on the sell side holding under 41 at the most to go down to 4 through 38-37 area or more

14 Aug 2018 02:35 pm
bounce needs to take out 42-42.50 and not get turned down from that area yet again, otherwise another move back down >4.50 points from the top, it should mean a high in place and that means taking out 39.00

14 Aug 2018 02:43 pm
decent chance of at least testing 43 area and breaking through may not be so easy and was likely set up another decent pullback that needs to go >4.50 points from top, break 25,295 on the Dow cash, and break/hold 7440.50 on the NQ to get across-the-b

14 Aug 2018 02:46 pm
to get across the board reversals, otherwise just a pullback in a good uptrend

14 Aug 2018 02:55 pm
selling pressure on at the moment at 42 area and needs to take out 41 at a minimum and If broken then 39 might be in the cards instead

14 Aug 2018 03:06 pm
should try for a last hour breakout higher but will need to hold over 42 at worst at the moment

14 Aug 2018 03:08 pm
has to keep going up through 44 and hold 42 at worst or else could be another 4 point pullback or a little less unless a late day breakdown again

14 Aug 2018 03:20 pm
43 sold but still would need to come back down under 41 at a minimum and especially 39 area to break uptrend and pullback symmetry at the end of the day

14 Aug 2018 03:22 pm
in the last 35 minutes of trading that ES will need to take out 43 area

14 Aug 2018 03:27 pm
in the last 25 minutes or so, market at oversold extremes and should avoid a breakdown. Should not see the 39 level the rest of the day unless the ES has reversed. However a hold under 43.50 will keep the door open for late day pullback instead

14 Aug 2018 03:28 pm
have a afternoon/evening! Update this evening and then a comment before the open. Take care!

 

INTRADAY LOG FOR MONDAY - AUGUST 13, 2018

13 Aug 2018 09:19 am
Good morning. there might be a bit of in the early shakeout and then bounced back again

13 Aug 2018 09:27 am
the ES has been all over the place overnight should come back down from 40 area or lower if there is going to be an early pullback. I will update about 5-10 minutes after the open

13 Aug 2018 09:36 am
hold under 40 and break 37 four and early reversal

13 Aug 2018 09:38 am
any run-up from here should be a short as a top should be in and should go under 36 and holds under 37-38 at the most

13 Aug 2018 09:42 am
it's going to need to hold under 38-38.50 area and break 36 in order to get another push lower and then 34.50 will need to be taken out

13 Aug 2018 09:48 am
needs to turn down around the 40 level or else 42-43 can be tested or broken, and then would be in the gap but not go all the way to 53 breakdown area

13 Aug 2018 09:53 am
need to take out 42-43 on another little run-up and then would need to hold around 40-39 and turn up again to avoid early top

13 Aug 2018 10:01 am
41.50 high so far just under resistance and a break under 39 area that's not turned right back up needed for a reversal or else could go over 43 area before a pullback of some sort

13 Aug 2018 10:09 am
tiny pullback turned up from just under 40 and should test or break 43 and then would need to come back down under 39.50 and put a top in place

13 Aug 2018 10:14 am
backing away from 42.75 resistance and could be a high if a break back under 40.50- 40 that is not turned right back up

13 Aug 2018 10:16 am
needs to take out 43 area and hold 41-40.50 area now in order to keep uptrend and not have a reversal

13 Aug 2018 10:19 am
ES needs to come down from 43 area and break 41.50 now in order to test or break uptrend and possibly have early high if that happens

13 Aug 2018 10:22 am
43 only broken by 2 ticks so far and turned down, taking out 41.50 area and not getting turned right back up still could start a decent pullback

13 Aug 2018 10:27 am
the ES has been holding at the 18 EMA on the 1 minute chart and now needs to break that 42.25 pullback low so far to begin putting top of some sort in place for a while

13 Aug 2018 10:30 am
should be starting a pullback of some sort taking out 42 and not getting turned right back up again and could to 40 area which needs to hold or else back towards 38.54 more

13 Aug 2018 10:32 am
at the moment it's the 41.50 level to take out and then hold under 42 if going to have any kind of decent pullback from up here.

13 Aug 2018 10:41 am
still need to break 41.50 area without getting turned right back up

13 Aug 2018 10:44 am
needs to do that in order to get a further pullback to or through 40.50-40 in order to put a high in place for a bit instead of another try for the high or higher

13 Aug 2018 10:49 am
should be a high-end place and in a bounce should fail at or under 43 and keep going to test or break 40.50-40 area and get further breakdown for a bounce of some sort No sign of a turn

13 Aug 2018 10:55 am
bounces should fail and the ES go to or through 40 area unless 43.25 is broken and then they hold after a tiny pullback around 42.50. Should not get there holding under 42.50 right now

13 Aug 2018 11:01 am
39.50 close reached and needs to bounce back above and hold 41.50 breakdown area or else another leg down after bounce fizzles out here. Update in about 10 minutes

13 Aug 2018 11:10 am
small bounce and stall at 41.50 and a test or break through 36 area in the cards and must hold 36 or else 33-32 could be next

13 Aug 2018 11:17 am
bouncing from just over 36 but needs to go back over 38-38.50 otherwise break 36 and head towards 33-32 or more

13 Aug 2018 11:22 am
33.50 reached and will need to hold and bounce from 33-32 or else keep on coming down to sort through 28th area next, and if it is through, 26 low on Friday major area to hold today and keeps pattern very bearish

13 Aug 2018 11:26 am
say wish worst down to the 32 area at least as that should be tested on broken and then if no bounce go to 30 and possibly keep going through 28 down to the 26 again – likely broken if it gets close

13 Aug 2018 11:32 am
steady drop to 32.50 low so far at the initial support after turning down from 3 ticks over 43 resistance and stalling then rolling over. could keep going to test or break 27-26 area breaking 32 and holding under 33 area

13 Aug 2018 11:41 am
should keep holding under 32.50-33 prior support, or else that area could become a pivotal area if that is taken out and then able to hold on a dip, but trader psychology needs to do a 180 turn and have a move with gusto

13 Aug 2018 11:50 am
a feeble bounce from 31 to failin g and unless that is broken and held 28.50-28 and possibly take out 26 on this move down

13 Aug 2018 11:57 am
breaking under 26 without a reversal can keep going down to test or break the 22.50-20.50 area, a big zone that needs held to avoid bigger breakdown and not another decent bounce back today

13 Aug 2018 12:04 pm
26 was reached and turned up but needs to go over 27.50-28.50 and stick or else heading towards at least 22 area

13 Aug 2018 12:26 pm
2950-30 need cleared held or and keep making new lows after bounce attempts well continue

13 Aug 2018 12:28 pm
the ES will stay bearish as long as 29.50-31 area is taken out and holds 29.50 area after getting through 31 otherwise bearish pattern continues making lower lows heading to or through 22-20.50 and if that does not hold down towards the 12 area or mo

13 Aug 2018 12:31 pm
I will be back to update around 1:20, sooner if not stuck on a phone call or something I cannot get away from today.. Should be getting oversold indicators if close this poorly, set up a possible 1-2 day bounce but we will see how today ends and tomo

13 Aug 2018 01:05 pm
with this further breakdown to the 20.25 level so far, it's going to stay in a good downtrend holding under 23.50-24 at the highest and should be going towards the 2812 area if 18 does not hold and give a strong bounce. Some similarities to 1987, but

13 Aug 2018 01:28 pm
with the ES holding just under 2820 major area for today and taking out 24 and holding after reaching 27.75 so far and since this move had some gusto it should be a low for a bit at least headed back to or through 29.50-30.50 if no reversal back down

13 Aug 2018 01:40 pm
will need to hold 26 area otherwise another pop-up will also fail, it looks like it will anyhow

13 Aug 2018 01:47 pm
there's a good chance for a poop-up from 26 area however will need to have some gusto also and take out 30 and stick, as 29.50-31 area a strong resistance and prior low before continuation of breakdown area earlier and strong area of their to clear.

13 Aug 2018 01:57 pm
bouncing from 25.25 and needs to keep going up through 30 and then hold 28.50 at the worst, otherwise holding under 29 here could mean another pullback to or through 26

13 Aug 2018 02:03 pm
turning up again from 26.50, and that 27-26 area will need to keep holding now in order to keep uptrend intact and not have a bigger pullback. Should be a low in place for the day

13 Aug 2018 02:12 pm
still can keep going up as long as this 29.50 area can hold now. That area, or just above around 33.50, should be pivotal this afternoon. So need to hold 29.50 if even going to have a chance of getting to around 33.50

13 Aug 2018 02:26 pm
pullback holding 29.50 and quickly turning up but need to keep going through 32-33 on this move or it will be a failure instead of continuing uptrend

13 Aug 2018 02:37 pm
a move back under 30-29.50 would lead a high in place most likely, at least for a while, soa high coulbe zone now and in place at thata new decent pullback underway

13 Aug 2018 02:45 pm
should hold under 32.25 if going to come back down and test or break the 28 area or lower

13 Aug 2018 02:59 pm
a slow move down to the 26 double bottom from yesterday again and will need to break 26 or else and attempt getting back above 29.50 pivotal area this afternoon. It stays bearish unless broken

13 Aug 2018 03:20 pm
With the ES turning up from 24.50 so far, keep going over 31 area but more important is 33-34 area which should be important resistance at the end of the day. Bounces should keep failing unless cleared with some gusto

13 Aug 2018 03:22 pm
the ES made it back up to 30.25 before failing and now unless that is taken out and able to hold then the ES should come back down to around 26 or lower

13 Aug 2018 03:28 pm
if this is going to act like it has been lately, then the ES should stay under the 29.50-30 area and sell off through the 24.50 pullback low and keep going towards the low area

13 Aug 2018 03:38 pm
so far the ES held at the 24.50 prior pullback low, however will likely go under that to the 22-20.50 low area before closing for the day if it holds at or under 27 area.. Only other way to avoid that would be a quick reversal up from 22.50 area if r

13 Aug 2018 03:39 pm
in the last 20+ minutes the ES will need to hold 24.50 in order to avoid dropping into the 22-20.50 area before closing. Update this evening and then I'll meet you here for a little while in the morning. Take care!

 

INTRADAY LOG - FRIDAY - AUGUST 10, 2018

10 Aug 2018 09:21 am
Just got power back and my computer is restarting. A bad time for a power outage. I will be with you in just a bit

10 Aug 2018 09:31 am
has to get over 38 and hold or still in trouble

10 Aug 2018 09:36 am
need to bounce from 39-38.50 area or else can breakdown further instead of a rebound possibly to fill a gap

10 Aug 2018 09:42 am
need to stay over 36 area and go up above 41-42 and hold the 40 area after that move, which would mean it needs to go up there with some momentum or going to take out 36 and be under some more pressure

10 Aug 2018 09:44 am
below in for a while and should not go back under 36.50

10 Aug 2018 09:48 am
41-42 prior support is going to be a new key resistance to take out and hold or else this is a bounce high in that area

10 Aug 2018 09:52 am
pressure will be on holding under 41-42 but if broken through that another pull back would need to hold around 40

10 Aug 2018 09:56 am
a bigger breakdown if 35 is broken and holds under 36.50 and back down

10 Aug 2018 09:59 am
33-32 is support before the 28 major pullback support area and still could be seen before a reversal. Need to hold under 37 area now

10 Aug 2018 10:03 am
36-37.50 area was a major area for the week and the ES needs to get back over that area and hold in order to get a turnaround attempt now as a pivotal area. Breaking 33-32 and holding under 34 at most keeps going to or through 28.50-27.50

10 Aug 2018 10:09 am
bouncing from bottom of 33-32 support so far, not a low unless 36-37 is broken through – but then needs to take out 42 area bottom of weekly major area at 42-43. big bearish looking chart holding under that area

10 Aug 2018 10:12 am
need to hold 36-35 area and turn up

10 Aug 2018 10:15 am
should make a lower high under 42-43 or else a low for the morning could be in place, at least for a while and maybe the rest of the day. 38.50 area could be that area to back away from

10 Aug 2018 10:17 am
right now with 39 reached it needs to hold 37.54 else could be reversing/pulling back

10 Aug 2018 10:20 am
the lookout for a turn from under the 42 major resistance for the week as it should be a lower high and at least some pullback again before it tries to go up to or through that area if it's going to

10 Aug 2018 10:22 am
pullback should test or break 37-36.50 area and if not turned up could go back to test or break the low area

10 Aug 2018 10:29 am
if you bought the VXX at 28 as mentioned might want to take some profit at 29.95 or better for a decent percentage gain, although not what I expected as it still not half of the percentage move on the VIX which normally happens. ES needs to bounce fr

10 Aug 2018 10:35 am
getting a decent run up from a stall at 35 but unless there is a move over 42 area today the bounces that stop under that area should fail. a turn from 39-39.50 down through 38 area to get downside going a bit

10 Aug 2018 10:44 am
to keep this from a bigger breakdown the ES needs to get over 38 and stick at the moment, or pop right back up from 35.25-34.50 at the most or else can test or break the low area

10 Aug 2018 10:45 am
careful trying to buy this as it is going to be bearish holding under the 40 area now and if that is broken then 42 area just above

10 Aug 2018 10:50 am
another good rebound coming from 33.75, and should fail on a bounce again and another pullback will need to be bought around 34-33.58 or else go to or throughh the low area around 32

10 Aug 2018 10:56 am
a bounce that takes out 39.25-39.75 area then holds at the 38 area and turns up it should go through 42 prior support/new resistance and high of the day session

10 Aug 2018 10:58 am
pullbacks should hold at 37.50, 35 if broken. A good chance to poke up to or through 42 or more

10 Aug 2018 11:04 am
backing away from 39.75 and just not able to go over 2840 just yet and needs to hold around 37 in order to have a chance of getting up there otherwise begin to back off again. So uptrend unless broken

10 Aug 2018 11:09 am
so far 40.70 was reached and backing away of that, and should not go over 42-43 prior support and hold very long even if it is reached and broken. Would need to bounce from 38.50 area

10 Aug 2018 11:13 am
with this coming back down from just under 41-42, could keep, back down to 35 or more big cannot get back over 38.3 and stick

10 Aug 2018 11:24 am
two-sided action after the gap down open under yesterdays 2852.25 low and would need to have big reversal day just to get back to that area, it looked like a low earlier and is going to be more than just the morning low as this should go test or brea

10 Aug 2018 11:30 am
run-up to 42 so far and backing away and needs to hold 39.50-38.50 area or else pullback symmetry can be broken

10 Aug 2018 11:33 am
will need to break 39.50 area and not get turned right back up at a pullback to that area again or else and so pullbacks being bought bounces would begin to fail

10 Aug 2018 11:37 am
could be a top with this turning down from 43 and needs to continue going higher and take out 43 and hold around 42 after that or else could roll over from this area

10 Aug 2018 11:40 am
should be a short under 43 now, as that area needs taken out and then hold 42 or else it's topped out already

10 Aug 2018 11:44 am
43-42 was a support zone to hold to avoid what could be a poor day or week if it was broken, and waited until Friday but did leave a poor looking daily and 60 minute charts, along with lower time frames. Doesn't change unless 43 broken/held today

10 Aug 2018 11:46 am
so far a 4.00 point pullback and need to have >4.50 point drop from a high in order to break the pullback symmetry with pullbacks being 3.75-4.50 points off of the low at 32 support this morning

10 Aug 2018 11:51 am
39 it is going to need a broken and held below or else test 42-43 area before backing away again. If reached and no sign of a turn, then could the attempt 47 prior support and now 50% retracement

10 Aug 2018 11:55 am
39 level touched three times and turned up and unless broken by much this can go back up to 43 area

10 Aug 2018 11:58 am
42-43 will need to be taken out and then a hold around 42-41 at worst and turn back up to attempt a breakout and not already have topped out by breaking 39 and not bounce a right back up

10 Aug 2018 12:04 pm
decent pullback coming off of 42.25 new resistance zone at 42-43 and that is a top so far and going back under 37 and holding needed for a potential break down further and not stay in a new ~5-6 point trading range

10 Aug 2018 12:09 pm
39.50 area can be pivotal area for a bit up here and unless broken and held this could be going back under 36 area and if so would need to turned up from 34 or else can keep going down to test or break 32.50-32 support

10 Aug 2018 12:16 pm
as long as the ES doesn't go up over 39.50 area and stick, the ES is going to also stay under 42-43 which was support and turned into a new major resistance intraday and sold twice so far today. Support at 37-36 needs broken if downtrend going to con

10 Aug 2018 12:20 pm
bounce from 37 almost to or through the 39.50 area and if broken and not turned down right away it could head back up towards 42 resistance, but should have some trouble around 40.50-41 if still relatively weak

10 Aug 2018 12:26 pm
I will be away until around 1:15-1:20 if I get stuck on a phone call or something else but will update ASAP if necessary. At the moment it still looks like bounces are going to fail, but need to take out 37 in order to keep going towards 33-32 suppor

10 Aug 2018 01:08 pm
after some poor action while trading of around the 59-63 area, we have that same poor action again today as all of the bounces are failing and this could end up breaking apart before the end of the day if this continues to hold under the 38.50-40 zon

10 Aug 2018 01:08 pm
to hold under the 38.50-40 zone on a bounce at the moment. And taking out 36.50 and sticking under 37-37.25 area gets the sound side going bigger here

10 Aug 2018 01:14 pm
bounces have not been sticking but at the moment the ES is holding the 37-36 weekly major support and has mostly traded between that support area and the 42-43 resistance. Need to go over 38.50 then hold 37.75 and turn up or else come back towards 37

10 Aug 2018 01:17 pm
another pop-up that is sold into and as long as that continues this can soand take out the support at 37-36 and possibly test or break 33-32 support and low area next

10 Aug 2018 01:19 pm
another bounce should only be about 2-3 points maximum and come down again for this kind of action to continue. I will update in about 10 minutes or so

10 Aug 2018 01:21 pm
breaking down now with 36 now holding at or under that 36-37 area is new resistance and should be going to or through the low if not broken/held from the higher low

10 Aug 2018 01:29 pm
very quick reversal back up and should turned back down from 36-37 area and take out 35.25 for this to roll over again, although can bounce right back like last time

10 Aug 2018 01:33 pm
a chance this could bounce from above 34 but if not then it goes down to around the 32 low area and possible further breakdown headed towards 28 or more today

10 Aug 2018 01:40 pm
holding under 35.50 needed to keep pressure on the downside

10 Aug 2018 01:46 pm
going to have this move down to more through the low of the day with the Dow cash rolling over also so look for 28.50-27.50

10 Aug 2018 01:52 pm
has pressure on still as long as it's holding under 32.50-33 right now.. If not broken then one more push lower should hold near 29 which is 50% retracement from 2795 low last week to the 62.75 rally high

10 Aug 2018 01:59 pm
in order to keep a steady downtrend the ES will need to hold under 31.75 on a bounce from here and if broken without a quick turn back down there could be a bit of a better bounce instead of steady grind lower

10 Aug 2018 02:03 pm
29.50 is the exact 50% retracement from 62.75 to 2795, but turned down at 31.75 downtrend resistance an still under pressure unless a move over 32 at a minimum can hold

10 Aug 2018 02:09 pm
we had a gap down open and a bounce from updated support at 32 and a bounce that failed at the 42-43 major area for today and sold twice, and a trended down move off of the top so far stopped just over 28.50-27.50 support so far, so should stay a tre

10 Aug 2018 02:22 pm
another bounce failing and rolling over again and should hold over the low at 28.75 otherwise could go down through the 28.50-27.50 zone by a points or so and then another bounce attempt that fails, if downside does not get good moment

10 Aug 2018 02:24 pm
you might want to keep your eye on the Dow cash also with it rolling over and a new low on that index would have the ES down at the 28 level or lower

10 Aug 2018 02:26 pm
gap days can be trend days sometimes and a downtrend day going after resisting the 42-43 prior support turned new resistance and being sold on every bounce attempt

10 Aug 2018 02:28 pm
if you happen to buy the VXX at 28 area and still are in that trade, it's up more than $2 and more than 8% and should and up being up at least 10% before a top there as the ES crumbling today with a major top now at 63-64 resistance area

10 Aug 2018 02:30 pm
the next support area below is down at the 22.50-22 area which is a target although still could go further to the 18 area, and if it gets crushed then down to the 2812 area

10 Aug 2018 02:35 pm
a move back above 35.50 needed to just regain 1/4 of the drop from 63.75 high down to today's low at 26.25 so far. Should go to another new low if this bounce fails under 30- 30.50 area and rolls over

10 Aug 2018 02:46 pm
the low and reversal occurred right at 2:30, leaving 90 minutes of trading in the week for that to be a low only if not another failure around 30 area and if so back down towards the lows again and trend down action

10 Aug 2018 02:53 pm
appears to be a 2:30 PM low in place and especially if the ES is able to get back over its prior support around 32-33 and stick. another failure under that area can give a pullback but probably not back towards lows unless a break under 28 support ag

10 Aug 2018 02:58 pm
ES needs to hold 29 and take out 32-33 soon or else could be going back to test or break the low area again

10 Aug 2018 03:00 pm
looking for 23-22 area

10 Aug 2018 03:02 pm
even if a bounce from that area it should fail as this can still go to war through 18 area yet today if the downside gets more momentum

10 Aug 2018 03:07 pm
a spike down to token lower low was bid back up, a feeble bounce so far and still needs to take out 29 and then especially 32-33 or else continue making lower lows

10 Aug 2018 03:10 pm
26.25 and 26.00 double bottom should be a target for another push lower and could go through down to 23-22 if the 28.50-27.50 area is

10 Aug 2018 03:18 pm
the end of day rally already started with the double bottom and breakout over 29 and needs to keep going and take out 32-33 on this move and stick if going to finish the day and a good uptrend

10 Aug 2018 03:22 pm
should hold over 32 area now on a pullback and not go back under that area at the end of the day in order to finish well. 33-32 should be strong support if reached

10 Aug 2018 03:24 pm
should hold around 35-34 area and go up again in order to stay very strong and not come back down to or through 33-32 area instead

10 Aug 2018 03:26 pm
we should have important lows in place right now at 26 area and at the moment as long as 35 area holds the ES keeps its strong uptrend, but if broken then 33-32 would need to hold or else another bounce likely would fail

10 Aug 2018 03:35 pm
I think that the tops at the 63-63.75 levels more important than this low at 26, and should the broken before 63-64 area is. As long as this closes the day at or under the 33-32 area the market can still be vulnerable. A close over 38.75, which is th

10 Aug 2018 03:36 pm
which is the top 25% of today's range, it would look better given the gap down open

10 Aug 2018 03:42 pm
ES is going to need to get back over 36 without turning right back down otherwise could go back to or through 33-32, if no sign of a bounce from there then late day drop again could be underway

10 Aug 2018 03:43 pm
although I doubt it happens 3 days in a row so look for a bounce of some sort if there is a decent pullback that does not keep going through 33-32 and stick

10 Aug 2018 03:45 pm
I hope that you have a great weekend! I will send you an update on Sunday, and then be here ready to go on Monday. Volatility has picked up and will make for a better trading environment. Take care!

 

INTRADAY LOG - THURSDAY - AUGUST 9, 2018

09 Aug 2018 08:58 am
Good morning. The ES closed about 3.50 points under "fair value" and is going to have no follow-through selling as usual so 58.50-59 needs broken above and held

09 Aug 2018 09:00 am
has to take out 63-64 and stay over 60.50 area at worst to attempt breakout of recent high area and keep going towards all-time high but we will see a day at a time

09 Aug 2018 09:01 am
expect a decent pullback to be bought if there happens to be one in the early going. Could be another slow day without any news

09 Aug 2018 09:01 am
I will meet you online around 9:30

Tuesdays, Wednesdays, and Thursdays from 9:30am-11:30pm Eastern Time are our Live Audio/Visual Training 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.

09 Aug 2018 11:53 am
the ES ran up to 1 tick under the major support and reversed by finally breaking down under 59 which should be a pivotal area the remainder of the day. With 55.25 low at the moment just over late low from yesterday, and if broken should test or break

09 Aug 2018 11:56 am
if 55.25 broken then should test or break 53 low area so far this week

09 Aug 2018 12:03 pm
this bounce will need to stop and turned down from 58.50-59.25 Most in order to have a move back to test or break the low area

09 Aug 2018 12:10 pm
can be sold with a really tight stop at 59 in case this rolls over here to or through the low and tests 53.50-52.50

09 Aug 2018 12:14 pm
has to at least come back down through 57 if going to get going on the downside

09 Aug 2018 12:16 pm
59 needs taken out still have going to break new resistance and pivotal area at that area and still vulnerable below

09 Aug 2018 12:16 pm
still should have a stop at 59.25 at most now as that should not be reached if going to rollover

09 Aug 2018 12:29 pm
the ES will need to go under the 57.50-57 area and stick pretty soon, or else a pop-up over 59-59.25 stop out could happen so needs to begin to roll over soon

09 Aug 2018 12:32 pm
I am going to be away until around 1:20, but will update ASAP if not stuck in the middle of something. At the moment the ES is going nowhere, and needs a move over 59 with some gusto soon, or breakdown after a long stall just under pivotal 59 resista

09 Aug 2018 01:16 pm
need to continue holding 59 area now or else flip-flop back into a downtrend

09 Aug 2018 01:32 pm
it looks like the ES still needs to hold around 60 area now and especially 59 otherwise a change in trend can be likely and instead of grinding higher towards resistance up here, breakdowns towards the double bottom low area a possibility. But right

09 Aug 2018 01:33 pm
but right now still grinding higher towards its high or a slightly lower high around the 63-64 major area of above

09 Aug 2018 01:37 pm
a hold under 61.25-61.50 and break under 60 needed to begin a downturn of some sort up here at the moment

09 Aug 2018 01:45 pm
can still be draining towards the high as long as 61-60.50 holds at the lowest right now

09 Aug 2018 01:47 pm
a very slow grind higher now going to cop out for a bit as long as it holds at or under 61.50

09 Aug 2018 01:55 pm
this slow grind is leaving charts in and uptrend that is about to break and if 60 is broken and hold under 60.50 area after that then it could be broken and start something that is more than just a tiny pullback, and come back to or through 59 area w

09 Aug 2018 01:56 pm
however, if this pullback does hold 60 and go back up and take out 61.50 then a shot at the 63-64 area still but not stick

09 Aug 2018 02:05 pm
the ES will need to hold 60.25 and run up over 61.50 with some gusto and not just nudge higher otherwise vulnerable for a pullback of some sort any time

09 Aug 2018 02:13 pm
so far the ES came down and held just over the 59 pivotal area and bounced, and needs to go over 60.50 and stick if it's going to make a move higher and not back down to/through 59 area and possible breakdown

09 Aug 2018 02:18 pm
reached the 59-58.50 prior resistance and pivotal area today and should keep coming down through that area and if it holds then at least test 57 and if broken could go back to her through the low area

09 Aug 2018 02:24 pm
reached 58.50 and bounced but still will be under pressure as long as 60.25 is not broken

09 Aug 2018 02:31 pm
ccoming up from the 58.50 support and that pivotal area still holding leaves the door open to bounce towards the high again but still needs to the rollover at least 60.25 with only a tiny pullback in order to keep upside going

09 Aug 2018 02:36 pm
after this 5 minute bar closes it should start a little bit of sideways movement and then head higher again IF this is going up to 63-64 as long as a hold over 59 during the sideways action

09 Aug 2018 02:50 pm
the ES will need to bounce from 59 or higher in order to have a shot at going back over 61-61.50 and if reached and 60.50 is held at worst, it might have a chance The 63-64 area. However, a hold under 61 and break of 59-58.50 could get the downside g

09 Aug 2018 02:55 pm
needs to keep going up through 60.25 and have just a tiny pullback and not a rejection and break back down to or through 59-58.50 pivotal area today

09 Aug 2018 02:57 pm
can start to get hit with more selling now even if it is only a draft lower instead of a fast dropped similar to yesterday, although that is possible from up here also. Getting very stretched and ready to roll

09 Aug 2018 02:59 pm
today we have the VIX going from 10.66 and is currently going straight up so far reaching 10.91, and that can be leaving as a break of this 59-58.50 area that sticks can make that jump up more. A good time to buyer of the VXX at 28 or better

09 Aug 2018 03:00 pm
use a 1% stoploss on that, and with it at an extreme it could make a nice late and a good percentage again over a short amount of time

09 Aug 2018 03:02 pm
use a 2% stoploss, just to have enough breathing room if it doesn't jump role soon and allowed to add. It should begin moving up soon if the ES breaks down through 59-58.50 and sticks

09 Aug 2018 03:10 pm
pressure should stay on as long as a hold under 59-59.50 area now and holding under 58.50 could lead to at least going to test or break 57 level, need to hold their oracles go for the low instead of a bounce

09 Aug 2018 03:15 pm
stays under selling pressure holding under 59.25 area now . 57 or more next

09 Aug 2018 03:17 pm
has to take out 57 on this move and not go back over 59.50-60 area or else could be turning back up again

09 Aug 2018 03:24 pm
need to go back over 60 at a minimum or else still sellers into this "strength" and dropped back down under 58 area, and if held under 59 after that a breakdown would occur.. Keep an eye on the doubt cash, similar pattern as the Dow– downtrend and

09 Aug 2018 03:27 pm
still need to take out 57 and then just a small bounce holding under 58.50 at the most or no bounces at all going for the 55.50-55 area going under 57 with momentum

09 Aug 2018 03:29 pm
58 held twice but still holding under 59.50 will keep pressure on any bounce and come back down again unless broken above with some gusto and sticks, not very likely the way it is acting

09 Aug 2018 03:31 pm
the NQ is having a good selloff from its top and just above that a support area around 7584-7582 area. And needs to take out 7490 area to break current downtrend

09 Aug 2018 03:36 pm
almost to the 57 level and if it gets there and does not come back up over at least 58.50-59 area and stick, but instead get momentum, a drop could keep going to or through 56.25 or else the lows around 55 and maybe a bit lower

09 Aug 2018 03:38 pm
only need the buyers to back away for this to come down in a vacuum, but so far they have held 57 but needs to make it back above 58-58.50 at a minimum and then a tiny pullback otherwise can go further and to or through the low not impossible, a boun

09 Aug 2018 03:45 pm
Market is in a tenuous position. bounces should have trouble holding but the day is about over, so enjoy your afternoon and evening and how catch you here in the morning. after you have read the update. Take care and look out below :-)

 

INTRADAY LOG - WEDNESDAY- AUGUST 8, 2018

08 Aug 2018 08:56 am
Good morning. the ES is slowly coming down and is currently just under its low from yesterday and a little above 53.50-52.50 where the gap from yesterdays open gets filled and should hold them bounce from that area but not out of trouble yet.

08 Aug 2018 09:06 am
if the ES holds under 58 it should be under some pressure, and needs to get over 59 and hold 58 to avoid possible break down to 53.50-52.50. If a bounce can clear and hold 58-59 it's in neutral territory and needs to keep going on up over 63 and stic

08 Aug 2018 09:07 am
I will meet you online around 9:30 and then update here a little after the live session is over. Should be a bearish day today but we will see

Tuesdays, Wednesdays, and Thursdays from 9:30am-11:30pm Eastern Time are our Live Audio/Visual Training 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.

08 Aug 2018 11:55 am
after bottoming at 2893 support and reversing at 10:40 that ES made it up to 61 after breaking and holding 58 prior support and just came down through that level and should have a high and place for a move back to work through at least 56.50 area hol

08 Aug 2018 12:00 pm
if it were short overnight from yesterday around 62-63 area and did not use the lower open to cover and are still in put a stop at 61.50, basically would be a scratch, but probably should not be seen if this is going to have a drop back towards today

08 Aug 2018 12:06 pm
56.50 easily reached so far and should go lower as long as a hold under 58.50

08 Aug 2018 12:07 pm
57.50-58.25 area will need cleared and held or continue pushing lower at the moment

08 Aug 2018 12:17 pm
in slow and fairly thin conditions, and another 8.00 point range on the ES so far, chances are better for a move back down to tests or break through the low area at support and make a bearish pattern on a close down there after being up 4 days in a r

08 Aug 2018 12:17 pm
if there happens to be another run-up move over 60 again should be sold today

08 Aug 2018 12:26 pm
bounce back stopped at the 58 new resistance and a pivotal area and stays bearish going to or through the low area

08 Aug 2018 12:28 pm
I am going to be away until around 1:20 or a little after, but bounces should still fail today and right now holding under 58 will keep pressure on and taking out 56 and then holding under 57 could mean going to or through low area, possibly tiny bit

08 Aug 2018 12:29 pm
I will update as long as I'm not tied up on a telephone call. Otherwise next update around 1:20 roughly.

08 Aug 2018 12:59 pm
The ES went to the 59.50 resistance and stalled almost 5 minutes before turning down and just reach 57.25 and would need to take out the 55.50 prior swing low in order to go for the low

08 Aug 2018 01:15 pm
so far just a pullback to 57.25 and bouncing and needs to take out 59.50 and not turn right back down to have a chance at the 61 area and possibly test 63-64 area again – not likely however unless upside get some momentum

08 Aug 2018 01:31 pm
another narrow range day and at the moment still wants to hold 57 area and unless broken and held the market is going to avoid any kind of trouble. The Dow has gone sideways also, and also NQ, but right now could get sold again but must take out 57 I

08 Aug 2018 01:32 pm
59.50 area is still a key area to get over and hold to avoid a down day to day

08 Aug 2018 01:35 pm
has to take out 59.50 area and then hold at or over 58.75 and turn up again from there or else can be breaking down to work through 57 on pullback and possibly get momentum– but hasn't been much either way

08 Aug 2018 01:40 pm
another pullback needs to get bid back up from 57 at worst right now in order to have any chance of a test or break of 59-59.50 – which should be sold again if reached if this is going to stay bearish and keep the door open to test or break 54-53 a

08 Aug 2018 01:47 pm
a very thin bid up from 57 updated support however unless this can get back over 59-59.50 area without coming right back down then can stay in this tiny range a bit longer similar to yesterday and set of a breakdown or breakout sometime soon and not

08 Aug 2018 01:53 pm
with the ES going sideways but holding the 57 area it has a shot at breaking out higher, but will need to hold over 57 area the rest of the afternoon in order to avoid a potential break to the downside. 59.50 area still needs taken out and hold 59-58

08 Aug 2018 01:54 pm
need to step away 10 minutes or so and will update then if necessary. Pullback must hold 57 and a bounce needs to take out 59.50/hold

08 Aug 2018 02:07 pm
with the ES taking out 59.50 and holding at the moment, a pullback would need to take out 59-58.50 now to break back down, and instead of going for the high or higher could have a another pullback if a stall rollover and breaks that area

08 Aug 2018 02:14 pm
looking like another top however if the ES can hold the 59 level and not breakdown below and hold under 59.50 again, could be another pop-up before getting hit with a bit sharper of a drop

08 Aug 2018 02:24 pm
ES is so far holding 59 and slightly moving up and needs to go through 60.50-61 and keep on going to war through 63-64 to avoid a reversal of some sort up here, going under 59

08 Aug 2018 02:27 pm
can get one more pop-up holding 59.50 and going through 60.50 without rejection. Need to keep holding 59.50-59

08 Aug 2018 02:36 pm
run-up from 59 new support was just reversed at the 61 level and a double top at the moment, and needs to turn back up from around 60 or else could keep going to or through 59 and possible rollover from up here. Tight stop on a short on the double to

08 Aug 2018 02:39 pm
pullbacks in this uptrend 1.50-2.50 points or else goes further by a couple of points, and 59-58 support needs held or else a bigger pullback could be underway

08 Aug 2018 02:50 pm
running out of steam up here and should continue holding under the double top and now triple top and breakdown by going under 59.50 and then holding under 60 after that to get downside momentum and be more than just a small pullback again

08 Aug 2018 02:53 pm
need to hold under 60.50 area on a bounce attempt and go down again if breaking down and not just another pullback

08 Aug 2018 03:10 pm
Looking like bounces will have a hard time holding but avoid a breakdown if the 59 area keeps holding. That should be a pivotal area in the last hour

08 Aug 2018 03:19 pm
59.25 held on the last pullback and now could have a shot at the 63-64 area in the last hour, but odds are pretty good that another pop-up would be sold into if there is on. Must hold at or over 59 in the last 40+ minutes of regular hours trading

08 Aug 2018 03:24 pm
61.50 token higher high not able to stick, and in order to have a chance of a test of the 63-64 area (or a little bit lower) then ES will need to run up from around the 60 area on this pullback

08 Aug 2018 03:32 pm
in the last 30 minutes of trading the ES still has a shot at the 63-64 area and if not rejected to start a pullback of some sort, then there could be a squeeze up towards 67-68 but would need to go almost parabolic

08 Aug 2018 03:34 pm
beware of a pullback from 63-64 unless it is blasted through and then holds 63 on a dip in order to avoid possible reversal beginning

08 Aug 2018 03:36 pm
touched 62.50 and immediately backed away, and will be very hard to go through 64 and then hold unless going parabolic as stated earlier.update this evening and then a quick comment before the live session! in the morning. Have a great afternoon/even

 

INTRADAY LOG - TUESDAY - AUGUST 7, 2018

07 Aug 2018 09:08 am
Good morning. The ES and NQ are you going to have gap up opens, and the move is beginning to get a bit parabolic. Should not go to a new all-time high in a vertical straight up move, and will need to keep going through

07 Aug 2018 09:12 am
57-58 and hold around 57 area after getting through 58 to avoid a reversal of some sort in the early going, and needs to go under 56-55.50 and then holds under 56.50 through start a move to 55 area which should be key support above yesterdays high at

07 Aug 2018 09:17 am
I will meet you onlinearound 9:30 and then update here a little bit after the session is over

Tuesdays, Wednesdays, and Thursdays from 9:30am-11:30pm Eastern Time are our Live Audio/Visual Training 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.

07 Aug 2018 11:52 am
the ES has been trading between the 63-64 resistance and 58-57 prior resistance/new support and should be broken to keep the ES from a test of its high, and first needs to take out 61 and then only a small pullback of about 1.50 points at most quickl

07 Aug 2018 12:01 pm
for now as long as a pullback holds at or above 59-58 then no breakdown and could keep nudging higher to or through 62.50-63.50 area but should not stay there very long unless it wants to go parabolic intraday today

07 Aug 2018 12:10 pm
very slow motion action right now and appears that 60.50-60 area must continue holding otherwise could go to or through 58.50-58 area a third time instead of testing on breaking through 63

07 Aug 2018 12:12 pm
62-63 top of this range and just under 63-64 resistance where top of the day is, however 62.50 is the key area up there to avoid rejecting

07 Aug 2018 12:21 pm
back up to resistance now and will need to keep going over 62.50-63.50 and not be rejected but a bond pushing through and then hold around 62 at worst after that if going to keep going

07 Aug 2018 12:24 pm
so far the ES is being bought on all of the small pullbacks so now needs to hold around the 61.50 area and get turned back up at worst to keep up site going or else it looks like current uptrend could be losing momentum around resistance again

07 Aug 2018 12:28 pm
I am going to be away until around 1:20 PM today and might be tied up almost the whole time, but should be free again by 1:20 at latest hopefully. So far with pullbacks being bought again, needs to reverse from 63.25 lower high and not go back over t

07 Aug 2018 12:30 pm
and not go back over 63.52 leave 123 top in place and not attempt a breakout higher

07 Aug 2018 01:41 pm
my apologies, but I am caught up with a talker during this appointment and will need to be away a while longer. The market is a short as the ES made two more rejections of the 63 resistance and beginning to roll over and taking out 58 can get things go

07 Aug 2018 01:44 pm
if the ES can still hold 58-57 and not breakdown, then it will stay in this range maybe until late in the day but this sideways action at a new high for the move didn't have very strong internals to get overbought, but starting to weekend while marke

07 Aug 2018 01:45 pm
be on the lookout for a potential break down… Continues to hold under the 61.50 bounce high area. I will be back ASAP sometime in the next 30 minutes for the next update. My apologies

07 Aug 2018 02:13 pm
the ES went back up to the 63 resistance a fourth time and barely pulling back so far and and if it does not go back under 61 and hold then it has a shot at finally breaking the top of this 63-64 resistance and either come right back down or get mome

07 Aug 2018 02:16 pm
pullback reached 61 so far and should go any further or else it could go back towards 59-58 area again. Should not see 57 unless a potential break down underway if they hold under 59-60 area and go back down again

07 Aug 2018 02:26 pm
the ES has been in the range made from 2863.75 around 10:40 PM and 2858 around 11:35 AM, so about 3 hours so far with 3 touches after that turning down at 2863, but only one other low down as far as 2859, and it looks like as long as that holds the m

07 Aug 2018 02:32 pm
it is beginning to look like the market is going to be vulnerable for a decent shakeout if this keeps holding under the 62-62.50 area at most and could come down through 59-58 easily if buyers began backing away or hitting the exit buttons during thi

07 Aug 2018 02:37 pm
during this stall. Should be short under the highs that were already touched and rejected 3-4 times, so could be small risk with good potential reward if this turns out to be a top and this gap up goes down and gets filled reaching 53.50 or more afte

07 Aug 2018 02:51 pm
at the moment as long as 61 holds there is a shot at going back towards the high area starting around this time would be normal. Would need to breakout or else another reversal back down could have decent drop

07 Aug 2018 02:53 pm
if 61 is not held then the 60.25 level must hold otherwise it's going to board through the 59-58 bottom of this range and if not quickly reversed could have a quick drop instead of another bounce. But no damage done unless those areas broken, as thos

07 Aug 2018 03:03 pm
we will see how this looks at the close, but the internals continue to come to together and at one time there was >700 that advancing issues is now down to 280 that advancing issues right now, and deterioration normally bearish and could make it so I

07 Aug 2018 03:05 pm
should be an end of day breakdown if this action continues and especially on the NQ. As stated earlier it's a short with a stop just over 63 and we could be getting end of day reversal if 59-58 broken then holds under 60.50-61 area

07 Aug 2018 03:08 pm
this is just getting wound up tighter right now, the day session range is just 8 points and this range this afternoon is 5 points. As long as a hold under 62 area now the market still under some pressure

07 Aug 2018 03:16 pm
could be a late day run-up and take out resistance if the ES can hold over the 60 level on a dip at worst and especially 61.50 area to your through 63 again

07 Aug 2018 03:25 pm
with the ES in this range between since around 11:30 AM this morning, there normally will be a break of this range late in the day and cause either a good move up or down. In this case, with higher lows while going sideways, will still have a shot at

07 Aug 2018 03:26 pm
a break under 60 not immediately turned up needed for potential breakdown.

07 Aug 2018 03:32 pm
with about 30 minutes left in the trading day it looks like the ES will stay in this range in less there is a break of the 60 area soon and keeps going down through 58 which could start a breakdown towards 53.50 area and staying short with a stop jus

07 Aug 2018 03:33 pm
stop will be in place, we have a tiny amount of risk for what could turn out to be a double digit pullback for the first time in quite a while. Will need to continue holding under 62.50-63 area of course

07 Aug 2018 03:34 pm
have a great rest of the day. I have another appointment tonight so update will be quick in either sent very early or much later than normal. Have a great afternoon/evening!

 

INTRADAY LOG - MONDAY - AUGUST 6, 2018

06 Aug 2018 09:15 am
good morning. probably won't like hearing this but I need to be away again today starting around 9:50 a.m. and back again around 10:30. Apologies ahead. the ES could bounce a bit more but have trouble if 43.50 is cleared and not held

06 Aug 2018 09:23 am
to keep the steady move it had going on Friday intact the ES should hold 37.25 area and turn right back up, and take out 40 again and then hold. Should be selling into higher open though

06 Aug 2018 09:25 am
I will update a little bit after the open and until around 9:55 this morning and then back around 10:30 hopefully

06 Aug 2018 09:35 am
bouncing from 36-35 but should not stick on a move over 39-40 unless still very strong and going for the 43 area before any pullback but should and up taking out support

06 Aug 2018 09:37 am
downtrend off of the open and needs to go down through 35 and hold under 37 fifth going to keep going towards low 30s and possibly 28-27 major area today

06 Aug 2018 09:44 am
with the ES bouncing from the 36-35 initial support and turning up, it is keeping the strong uptrend and momentum intact at the moment but should have trouble getting through 40 area and 42.50-43.50 especially without reverse to avoid pullback this m

06 Aug 2018 09:47 am
need to break 37.50 or keep going towards 42-43

06 Aug 2018 09:48 am
40 area going to be pivotal in needs to be broken and held after going to or through 42.5-43.50 or else could be topping out for a bit

06 Aug 2018 09:50 am
39-38.50 needs to hold to keep this going higher but breaking and holding that area turns this back down to test or break 36-35 which should be a major area for the uptrend now

06 Aug 2018 09:52 am
I will be back around 10:30 roughly. Uptrend intact holding 40 area for now

06 Aug 2018 10:45 am
and see that there was a 4.50 point dropped from the 43.50 resistance and going back up there now a second time and should poke above that area and then another pullback of some sort from up here

06 Aug 2018 10:49 am
needs to break 42 in order to dent this uptrend and possibly another rollover here around resistance

06 Aug 2018 10:53 am
42 broken by 1 tick and turned up but should hold under 43.50 double top at resistance and take out 42 and keep going under 40 to be topping out

06 Aug 2018 11:00 am
holding 42 and up again and made a token higher high but should have trouble at 44.50 token higher high and if not then could go as far as 47.50-48.50 and make lower high under the 49.50 high a few weeks ago. Needs to hold 42 as major area now

06 Aug 2018 11:04 am
44.50 updated resistance touched and backing away as possible top. pivotal at 43-42, reversing if broken and not turned back up with some gusto

06 Aug 2018 11:06 am
top in place if this goes under 43 and especially 42 and not turn right back up in time to be looking at short instead of long side as I am shorting against 44.50 resistance

06 Aug 2018 11:08 am
the ES and the Dow cash have a similar price pattern, that NQ

06 Aug 2018 11:12 am
ES and the Dow cash have similar patterns, with ES still needing to break 42 in order to have a top possible. The NQ has made a double top bounce high at 7412.00-7413.50 that needs broken and held or it did breakdown some on another pullback

06 Aug 2018 11:21 am
tiny 123 top made at 44.50-44.25 updated resistance and about to take out 42 and if short from around 44 area scalp out of part at 42 or better and keep a stop at 44.50 in case this is a top with a bigger pullback to come

06 Aug 2018 11:26 am
bounce off of 41.75 again about to poke to a higher high, and likely pullback again but no damage done yet unless 42 broken and not turned right back up a third time

06 Aug 2018 11:29 am
47.50-48.50 would be the maximum upside unless it's going to keep going to or above the 49.50 high but should not stay over 50 very long unless going a bit parabolic

06 Aug 2018 11:35 am
should be going up towards 47-48.50 area at most if the upside loses momentum and stalls or reverses at or below that area and set up going straight up to or through 49.50. Must hold 43.50 prior resistance to keep going in a strong uptrend

06 Aug 2018 11:40 am
will need to hold at or over 44.50-43.50 at worst in order to be strong enough to keep this going to or possibly through 47.50-48.50 area –should be as far as it goes or 49.50 and possibly 52-53. So pullback must be very small

06 Aug 2018 11:53 am
so far almost to the 47.50-48.50 area and needs to reversed back down under 45.50 area now in order to attempt reversing uptrend – need to keep coming down through 43.50

06 Aug 2018 12:00 pm
making it to the 47.50-48.50 area in a rush here and could back off quickly and if so still needs to hold 46.50-46 or else could be a high in for a bit

06 Aug 2018 12:04 pm
if this keeps going through 48, and not turn right back down and break 46, then 49.50 could also be broken and if so and no quick reversal then melt up right up to 52-53 possible before a turn

06 Aug 2018 12:15 pm
will need to keep holding needs to keep holding dynamics support on the 1 minutes chart currently 49-48 area

06 Aug 2018 12:20 pm
unless 49.50 prior high broken another move up need to go to the 52-53 area before coming back down again or else can go back to 48.50-47.50 which needs to hold to avoid a possible reversal pattern up here

06 Aug 2018 12:23 pm
I will be away until around 1:15 but will update if necessary and not stuck on a phone call. At the moment this vertical move up must take out the high and not take out 49.50 in order to avoid potential reversal and instead attempt 52-53

06 Aug 2018 01:13 pm
the ES has made it to the 52-53 area and would need to break down and hold under 51-50 area at the very minimum to the attempt leaving a high in place up here. But should hold 50.50 and quickly turned up if still very strong and not topping at this 5

06 Aug 2018 01:18 pm
only a tiny pop-up with no follow-through leaving a tale on the chart so far at 53.50 to finish this for a while if 50.50 is reached and then holds under 52 area after that

06 Aug 2018 01:24 pm
with this pullback reaching 50.75 and popping up, still need to go back over 52 without turning right back down or else this could be the start of a bigger pullback from a poke over resistance for a millisecond

06 Aug 2018 01:30 pm
even with the ES pulling back the VIX just went to a new low all the way down at 11.21 (more on this tonight)and it will turn up at some point and give a red flag so things can be changing at this top left with a tail left 2 ticks above resistance c

06 Aug 2018 01:32 pm
should keep going down two more through 48.50-47.50 and if that happens any kind of bounce will be under pressure as long as the ES does not go back over 51 and then hold 50 after. Bounces should be sold under that area

06 Aug 2018 01:40 pm
testing 48.50-47.50 prior resistance, and area where breakout happened at 12:10 and held above since then. This bounce should not make a new high but couldn't get back towards 50.50-51.50 but may not and no further if it does and then another decent

06 Aug 2018 01:41 pm
then another decent sized pullback if a failure and break of 48 area with no quick reversal

06 Aug 2018 01:43 pm
pressure is going to stay on holding under 50.50 at the moment to test or break through the 48 area

06 Aug 2018 01:45 pm
keep an eye on the Dow cash also, as it made a 123top and rolled over while that level pop-up over resistance happened and was not affected on cash indexes. 88 area is important to break on the ES and stay under 50 area

06 Aug 2018 01:54 pm
the ES just reached 48.25 and quickly turned up but not with enough gusto yet to get over 50.50-51 area which needs take out and then held on a dip in order to get another uptrend going on a very short term basis

06 Aug 2018 02:03 pm
bounce off of 47.50 prior resistance/new support now and if broken by much then the ES could go to the 43.50 prior to initial resistance area or just above as 44.50 is 50% retrace from the morning low at that area also

06 Aug 2018 02:06 pm
bounces are not going to stick from here on out, and the Dow is about to go negative. That is leading the ES lower, or at least going with it and keep an eye on that also – it was making a top before the ES made its pop-up reversal bar around 53 ma

06 Aug 2018 02:17 pm
bouncing from 47 poke under resistance turned new support by 2 ticks, and if unable to get back to 51 and hold 50 and turned up again, it's going to be a failed bounce tabs and come back down to or through 47 – if broken through look for 44.50-43.5

06 Aug 2018 02:25 pm
still needs to go back to the 51 area and then hold around 50 at the worst if going to attempt a better turnaround then this one so far

06 Aug 2018 02:27 pm
at the moment still under 51 and will need to bounce from 49 area or else it may not have a chance to get their before possible further breakdown by not holding 49 and quickly turning up

06 Aug 2018 02:30 pm
bounce from 49.25 keeping upside intact for the moment and needs to go back under that area if there is going to be another decent pullback before getting back up towards the high for a little bit below that

06 Aug 2018 02:39 pm
still going to grind higher unless is goes under 50.25 area now

06 Aug 2018 02:41 pm
the Dow cash has began to flatten out a bit with that ES right at the 51 level, so needs to go over 51 soon and stay above 50 after that or else a chance of a reversal back down through 50 from here

06 Aug 2018 02:43 pm
should be able to keep pushing higher now as long as the ES continues holding over the 50.50 area now

06 Aug 2018 02:45 pm
with the Dow cash also turning up there is a chance this could go back for the 52-53 area just above and would need to go right through 53 and not get turned down back under 52 area without quickly turning up in order to have a breakout and not rever

06 Aug 2018 02:57 pm
the ES has made it back up to 52 so far and going flat again and must avoid breaking 50.50-50 area and not turning right back up or else this could be another top is a pullback does not go down to or through 48-47

06 Aug 2018 03:06 pm
the ES could end up going back down through 48.50-47.50 and if 47.50 area is broken then there should be a top in place in any other bounces after that should be sold into. They should be a top of some sort today

06 Aug 2018 03:09 pm
this should keep going down as long as 49.75 area is not taken out and then held after that

06 Aug 2018 03:18 pm
so far only a feeble bounce attempt from 48.25 and if this holds under 50 area pressure should stay on for a push down to test or break 47 and possibly go towards 44-42.50 area if they break down under 48 area holds

06 Aug 2018 03:20 pm
but the ES holding 48, keeps the door open for this to make yet another run up towards 53 area but should not take out the highs and hold but just a bounce of some sort that fails

06 Aug 2018 03:34 pm
this bounce should fail and breakdown if it cannot get back over 2850.50 again with enough gusto to hold on a dip after if going to tests the 52-53 resistance which has top to the market off today and should stay as a top

06 Aug 2018 03:37 pm
bounces should continue to fail at or under the 52-53 major resistance for today and this could end up being a top of some sort especially a close back under the 48-47 area

06 Aug 2018 03:45 pm
we have a double top at the 52-53 major resistance area today however still holding the 48.50-47.50 prior resistance/new support area that was only poked under and bid back up shortly afternoon. Bigger picture uptrend intact until broken, which coul

06 Aug 2018 03:46 pm
have a great rest of the day. Update before the open tomorrow and then online session. Read tonight's update and then I'll meet you here in the morning

06 Aug 2018 03:47 pm
I am going to be keeping a short on overnight in case we have a top in place here. Up to you but it could be reentered tomorrow if there some early strength. Take care

 

INTRADAY LOG FOR MONDAY - JULY 23, 2018

23 Jul 2018 09:25 am
no change from last night and a run-up or any decent bounce should have a hard time holding

23 Jul 2018 09:28 am
it looks like the ES needs to get over 2803.50 at a minimum to attempt a turnaround. I will update about 5-10 minutes after the open

23 Jul 2018 09:31 am
needs to hold 2800 and go over 2803.50 without anything more than just a tiny pullback

23 Jul 2018 09:34 am
this is going to break down through 2800 and probably stick as long as 2802.50-2803.50 is not broken and held now

23 Jul 2018 09:40 am
has to get over 2800 and stick in order to attempt a turnaround and especially 2802.50-2803.50

23 Jul 2018 09:41 am
would need to have a good strong bounce from 97-96 area

23 Jul 2018 09:45 am
97 support giving a bounce and need to go over 2800 and especially back over 2802.50-2803.50 to have a low in for a while

23 Jul 2018 09:47 am
bounce from 97 backed away at 2800 and needs to go over 2802.50 at a minimum and then must hold over 2800 after that and go up again just to try getting into the neutral territory

23 Jul 2018 09:49 am
if another push lower does not take out 98.50 and then hold under 2799.50-2800 it could come back to test or break through 97-96 support and low area

23 Jul 2018 09:52 am
need to get over 2800.50 and hold or else go back to test or break the lows

23 Jul 2018 09:52 am
could be a bounce high there and come down to or through 97-96

23 Jul 2018 09:56 am
slightly higher low so far but should go through 97-96 before turn around attempt

23 Jul 2018 10:01 am
double bottom at support and 2800 broken and now needs to hold 2800-2799 and go over 2802.50-2803.50 and not turned right back down from that area

23 Jul 2018 10:04 am
2803.50 reached and 2805-2805.50 would need broken/held or still in a bigger downtrend and another pullback to or through 2800 area

23 Jul 2018 10:09 am
going back under 2801-2800 and holding could go back towards the lows. Bigger picture downtrend and 60 EMA at the 2803.50-2804 area and needs to take that out and keep going up through 2805

23 Jul 2018 10:11 am
it's going to be under pressure still under 2802.50-2803.50 and needs to go over 2803.50 and hold 2802 and go up again to attempt a turnaround instead of going under 2800 and towards the lows

23 Jul 2018 10:16 am
2800.50 middle of the morning range and should be a breakdown area if taken out and held under 2802 after for a move back to course through 98.50 or more

23 Jul 2018 10:26 am
98.50 reached and if 98-97 is broken then could be on the way down towards the 93-92 area. Needs to take out 2801 or more and then hold 2800 after that for a try at the high, keep eye on the Dow as it could lead lower being weakest

23 Jul 2018 10:29 am
little bounce stopped under 2800 and pressure Ceylon holding under that level and could be going towards the 93-92 area

23 Jul 2018 10:33 am
bottom end of the 97-96 support was reached and just a feeble bounce so far but still is going to be under pressure as long as 2800 is not cleared and then held after that

23 Jul 2018 10:37 am
a chance this could be a low at least for a while if 2800 area broken and able to stay up there

23 Jul 2018 10:37 am
it should be a resistance otherwise if this is going to stay under pressure and go down to or through 93-92

23 Jul 2018 10:40 am
98 needs to hold now in order to keep from another breakdown and go for the high area for a little bit below

23 Jul 2018 10:44 am
a move over 2802.50-2803.50 area is still needed in order to the attempted breakout over the bigger downtrend line from Friday, and has a chance if the pullback holds around 2800-2799 at most. A move back to that area could test 97-96 and bounce

23 Jul 2018 10:52 am
holding 2800 and could make a move over 2802.50-2803.50 but if not for a failure around that area then breakout will be a fake out and another decent pullback to work through 2800 area or more

23 Jul 2018 10:59 am
pullback from 2802.50 bounce resistance held at 2800 and needs to go back under that level or else could keep going up to or through 2803.50 and may be a little more around 2805, but if 2800 broken then should hold under 2802 and head back towards 98

23 Jul 2018 11:04 am
has to get over 2802.50 and not turn right back down or else still under pressure and if the Dow cash breaks down and the ES takes out 2800 then a move back towards the low possible

23 Jul 2018 11:05 am
or tests 98.50 area at least

23 Jul 2018 11:10 am
98.25 pullback low so far and needs to hold or else to 97.25-96.50 area can be tested and either reversed or broken and if broken then possibly on the way to 93-92

23 Jul 2018 11:16 am
a mixed bag but appears lows should be in place if the ES can get over 2802.50 and not get turned right back down and take out 2800 area again. if 2802.50 area rejected, breaking 2800 and holding under 2801 should put pressure on again

23 Jul 2018 11:25 am
if 2803.50 is reached or broken then a dip needs to hold 2802-2801 area at worst or else could be a reversal back down

23 Jul 2018 11:30 am
should make a slightly higher high over 2803.50 and then should hold 2801.50-2801 area on a dip at worst and turn up again or else could be making a high for a bit

23 Jul 2018 11:33 am
ES is at its high for the day and 2805 is next and if broken 2807.50-2808.50 major area today, which should not be seen unless a decent reversal day. Will need to continue holding 2802-2801 at worst now

23 Jul 2018 11:36 am
token higher high at 2804 reversed and now it's 2802-2801.50 area that should not be broken to get to 2805 or more, or else another bounce after should fail with 2804 area a high area for a bit

23 Jul 2018 11:46 am
so far barely missed 2805 but should get there is 2803-2802 area can hold otherwise going back under that area and holding under 2803 would turn the trend from up here

23 Jul 2018 11:50 am
if 2803 is able to hold then can still keep going to the 2805 area but stalling out around noon time can lead to a top of some sort, and could be in place right now

23 Jul 2018 11:54 am
taking out 2803-2802 area and not turning right back up over 2803 again needed to break current uptrend and not make it to the 2805 level or higher. Needs to happen very soon if it's going to go down there and not up to 2805 or more

23 Jul 2018 11:55 am
buyers will stay in charge unless 2803.50-2803 is held at or above or the moment

23 Jul 2018 11:59 am
prior updated resistance at the 2803.50-2802.50 area should now be a key support area to hold in order to keep uptrend going from support and not reversing back to the downside by taking out that zone. Reached 2805.25 and has 2807.50-2808.50 to get t

23 Jul 2018 12:05 pm
2805.75 high so far and needs to hold 2804-2803 area now or else it might be too much in the next bounce should fail and make one more push lower after that

23 Jul 2018 12:08 pm
I am going to be away until around 1:15 today, but will update ASAP if I am free this afternoon. At the moment it looks like a noontime top and breaking 2804-2803 would need immediately come back up to a higher high, or topping out for a while

23 Jul 2018 12:57 pm
the ES made it to the 2808.50 key resistance for the ES and if 2807-2806.50 area does not hold then there could be another top made here instead of pushing through and going towards 12-13 area, which would not be good if reached today most likely get

23 Jul 2018 12:57 pm
however, may not see that area if this comes back down through 2806.50 area without a good bounce

23 Jul 2018 01:23 pm
with the ES coming off from the 2808.50 resistance area it's going to be a top for the day if it keeps coming down and takes out 2804-2803 this afternoon. That will need to hold under 2807 now at most for this to get to work through 2804-2803

23 Jul 2018 01:34 pm
bounce from 2805 prior resistance doesn't have much gusto and needs to get over 2807 for rollover again. But if 2807 taken out it would need to stay over 2806.50 or else likely would be coming back down again

23 Jul 2018 01:46 pm
needs to hold around 2806.50 area now in order to keep this move going and not begin to come back down to or through the 2605 prior resistance, and try for 2808.50 again

23 Jul 2018 01:53 pm
buyers still in charge as long as 2806.50 keep holding as a new support area and if a higher high is made instead of a lower high that gets rejected, could try for 2812 area on this leg up

23 Jul 2018 01:55 pm
should hold 2807.50 area now and not come back down under 2807 if going to stay in a good uptrend and a chance at continued upside towards 2812 and not a double top up here

23 Jul 2018 01:56 pm
slightly lower high could be it for this bounce especially breaking back under 2807 area without an immediate snapback back to the high area

23 Jul 2018 02:02 pm
could be a break of dynamic support around 2807-2806.50 area and if so then odds grow that a double top today and tops their last Friday (aside from quick spike to 2810.50) leading to the drop to 2897-2896 this morning. Should be hard to get through

23 Jul 2018 02:04 pm
well 2807 held, and very thinly traded market so they run-up could go right up to 2810.50 in a heartbeat and if so would need to hold 2808 area affter that

23 Jul 2018 02:09 pm
if that's all this can do on the upside before stopping again, then likely need to force buying squeezing shorts by moving over 2808.50 and holding over 2808, which looks needed in order to get a decent move up and not fail around this area again tod

23 Jul 2018 02:21 pm
pop-up with no follow-through again and should be a top in place now for another pop-up will be sold anyhow so I am shorting and will only add if we make a token higher high and reverse, or take out 2806.50 and have just a feeble bounce after. 2810.7

23 Jul 2018 02:24 pm
if this is one of those morning lows into and afternoon high or topping process and rolls over late in the day it could end up being a high for this move and decent pullback follows. Still needs to take out 2807 without snapping right back up again,

23 Jul 2018 02:24 pm
or could test or break the high area but likely not stick. Going to be just a scalp out if 2807 not broken soon

23 Jul 2018 02:25 pm
whatever the case, even though this has not broken down yet buyers are backing away at the highs again as a have done at previous tops and topping patterns and even another token higher high should be sold if this is what's going on

23 Jul 2018 02:28 pm
the ES would need to go up and take out 2810.75 and then only have a small pullback hold 2808.50-2807.50 area at worst, and possibly new pivotal area, or else then could be breaking down.

23 Jul 2018 02:33 pm
still need a move under 2807 and then hold under 2808-2808.50 after in order to have a reversal attempt instead of another pop-up which is possible that this holds 2807.50

23 Jul 2018 02:35 pm
the VIX made a double top at 13.47-13.45 corresponding with the double bottoms this morning and has fallen all the way to 12.68 and turned up which should be a red flag

23 Jul 2018 02:42 pm
holding under 2808.50 area now after the spike above came right back down and taking out 2807.50-2807 without instant turn back up the ES could go back to 2805 prior resistance and 1:25 pullback low first. Holding over that important the rest of the

23 Jul 2018 02:44 pm
don't have another thing stretched out and the poor price action we were seeing at other top so no longer interested in holding a position other than scalps right now

23 Jul 2018 02:45 pm
as long as this is holding 2807.50-2807 area in the last hour, then no damage done to this uptrend just yet

23 Jul 2018 02:52 pm
as long as another pullback is small and holds 2807.50 new support which just was touched and turned up then it will stay out of trouble and in a trend up mode the rest of the afternoon. However another failure and downturn from 2810.50 area back dow

23 Jul 2018 02:59 pm
double top at the moment, and should not go back under 2808.50-2807.50 or else bigger move lower could be underway. if held, uptrend remains intact – although another token higher high will be sold again. Upside becoming very limited from here toda

23 Jul 2018 03:03 pm
creeping up on another high and look for a poke over 2809.50 to be sold. If there is not a new high made in the next 5 minutes, then pullback can begin or has already started and will take out 2808-2807 area

23 Jul 2018 03:10 pm
very slow movement this afternoon, but it looks like the little double top and reversal just before 3 PM as a chance to be a top, especially dropping under 2808-2807 and then backing away at 2808 and going down again after. Pressure should be on if a

23 Jul 2018 03:14 pm
with this quickly turning up again at 2808-2807.50, it is going to keep out of trouble now unless broken and not quickly springing back up yet again, it has been doing this since coming up from break and hold over 2803 area or a little before that

23 Jul 2018 03:18 pm
all of the small pullbacks have been bought most of the day, but right now the ES is having trouble around its high area with buyers backing away and so should be some late day selling if this cannot make another higher high seven and ovoid taking ou

23 Jul 2018 03:23 pm
support currently holding but don't expect a pop-up to be able to stick either because this is getting very top-heavy and bounces should be in to fail the way it is looking right now, similar to prior tops lately

23 Jul 2018 03:25 pm
this range started around 1:50 PM and a low at 2807 and high at 2809.50 – 2.50 points since then. Looks like about to break down

23 Jul 2018 03:26 pm
in the last 30 minutes of the trading day, unless the ES is able to get back over 2809.50 double top, the pullback taking out 2807 could continue towards 2805 or more if there gets to be a bit of momentum

23 Jul 2018 03:33 pm
the ES so far poke down to 2807.50 and a very thinly traded market today, which could mean an air pocket kind of move if buyers suddenly turned to sellers to get out, which could happen if this takes out 2807 and holds under 2808 area end of day

23 Jul 2018 03:35 pm
2807 key area on the downside to go through still and should be important with the cash in this week's beginning to rollover until just now, as the Dow needs to go under 25,049 without quickly turning up also for it to have a late day break

23 Jul 2018 03:38 pm
would avoid Long's up here, even if it goes up there is more risk than reward it appears right now. I'll meet you in the morning with a quick comment before the online session. read tonight's update before we start today. Take care!

 

INTRADAY LOG FOR FRIDAY - JULY 20, 2018

20 Jul 2018 09:06 am
ES is at a support area but overnight the what to 93.50 and 93 and just above the 92 area I have and could be headed back down there. Per last night's update the technicals and sentiment were bearish and should end the day lower

20 Jul 2018 09:14 am
yesterday I said to get short and stay short overnight and should stay under 2802 if a bounce back there. Lower opens have been bought lately but if so it should set up another short, so take profits at 97-9696 support, and watch a move to around 280

20 Jul 2018 09:22 am
bounces are going to have a hard time holding and this 2802-2803 area should be hard to break and hold or else 2804.50 should be the most but not stick their very long if it is reached

20 Jul 2018 09:25 am
update about 5-10 minutes after the open. Stop on shorts at 2806.50, which leaves a few points is all

20 Jul 2018 09:31 am
should be early high. will need to go under 2802 and then hold under 2804 area it looks like

20 Jul 2018 09:36 am
should stay under pressure under 2804 and needs to take out 2802 and not bounce right back up soon and take out 2804 than

20 Jul 2018 09:39 am
current uptrend from pre-open trading and downtrend from yesterday and this has 2804.75-2805.25 to get over or still in downtrend from yesterday, but take out 2802 in order to break uptrend from this morning

20 Jul 2018 09:42 am
with 2802 holding and bouncing right back from that support, ES stays away from trouble unless is broken now. 2806.50 needs taken out and held over next or else early bounce is going to reverse

20 Jul 2018 09:48 am
stays in uptrend as long as 2803.50-2802.50 support is not broken, but should be topping soon and if not then pop-ups should begin failing for quick pullbacks at least

20 Jul 2018 09:49 am
a short with a tight stop just over the high now

20 Jul 2018 09:50 am
down to the 2802.50 area and may be more

20 Jul 2018 09:54 am
2803 held so far and needs to go back under 2802.50 and hold under 2803.50 in order to have a break lower instead of a bit better bounce before polling back

20 Jul 2018 09:56 am
2803.50-2802.50 should not be tested or broken or else a bounce that follows should be sold. Also there is some resistance around 2806.50 where a turn could come from

20 Jul 2018 09:58 am
buyers backing away just under 2806-2806.50 and needs to get to that and stick or else pullback could come down to or through 2802.50

20 Jul 2018 10:02 am
buyers backing away on the higher highs and coming back and after a tiny pullback, and now needs to stay over 2805 at most or uptrend could be breaking

20 Jul 2018 10:04 am
that should be a high now and if not then another pop-up will be sold so short up here and stop just over the high

20 Jul 2018 10:16 am
holding just over 2804 at the moment but a bounce just turned back down from under 2806 and unless that is broken/held then market stays vulnerable or break under 2802.50

20 Jul 2018 10:21 am
holding under 2805-2806 keeping pressure on and should not go back over that area and keep coming down under 2802.50 area and not get turned right back up

20 Jul 2018 10:26 am
bounce back to 2806 sold this first time up here but if 2803.50-2802.50 support continues to hold it can take that out and try for a higher

20 Jul 2018 10:27 am
it is still bearish for now unless broken over 2806-2806.50 back to test or break supports

20 Jul 2018 10:29 am
another pop-up to 2806 and if broken 2808-2808.50

20 Jul 2018 10:31 am
these are going to keep failing but then bounced back again after there is a pullback of ~1.50-2.50 points (or more)

20 Jul 2018 10:36 am
run-up to the 2808.50 resistance giving pullback of 1.50-2.50 points so far and needs to keep holding over 2805.75 at the lowest in order to keep good uptrend from breaking

20 Jul 2018 10:48 am
2806.50 held as new support on the pullback keeping the uptrend going and another pullback should hold 2806-2806.50 in order to keep this move from failing.

20 Jul 2018 10:50 am
could be a double top at resistance to sell against and it looks like the thou cash is about to break it's bearish pattern and could be a bigger pullback to or through 2805 area or more

20 Jul 2018 10:52 am
bounces now should keep failing at or below double top at resistance, a short on in a bounce and should hold under 2807.25 area keeping pressure on to or through 2803.50-2802.50 and the 25,050 area on the Dow cash

20 Jul 2018 10:54 am
2805 held by 1 tick but a bounce should fail under the double top at resistance to sell against with a tight stop. Should stay below 2807-2807.50 to keep pressure on

20 Jul 2018 11:04 am
the ES made it up to 2807.75 and is backing off again but bouncing around in a range right now and needs to break down hundred 2805 and then have only a small bounce after that. They should fail like they have been now heading back to work through 28

20 Jul 2018 11:07 am
this is not a good pattern as long as there is not another run up to the 2808 area again, although it would be sold, it would probably put off going down to or through 2802.50 and likely go through the low

20 Jul 2018 11:14 am
we are getting quick moves in both directions and basically trading between 2805 and 2808.50 and a break of either needs to accelerate and not just pop over or below and reverse or else this range will continue

20 Jul 2018 11:21 am
with the ES getting to the 2805 new support and reversing and making a higher high, a chance of grinding higher up to or through 2810 before backing away at most, and then needs to hold 2807 area on a dip or just hold over that area to avoid 2805.75

20 Jul 2018 11:24 am
this should have a hard time holding onto higher highs at the least and give pullbacks of 1.50-2.50 points at a minimum if this action continues and could be much better pullback. Should continue singing that, and then pullbacks bought as long as hol

20 Jul 2018 11:34 am
with the 2810 level updated resistance being reached this should come down to around the 2808.50 area and needs to hold around their or else there could be a bigger move down as that prior resistance needs to hold or things could be changing

20 Jul 2018 11:35 am
should be a top for a while at 2810 even if another pop-up as it should go through 2808 and if so then other bounces should also be failing on the way down to four through 2806-2805 or more

20 Jul 2018 11:37 am
that is if 2808 is broken and a failure under 2810.50 on this bounce goes back down through 2808 – then 2806.50-2805.50

20 Jul 2018 11:44 am
bounce from 2808.25 failed under 2810 but then again the held at 2808.25 and unless broken another push higher to another higher high before a pullback

20 Jul 2018 11:46 am
test of or a token higher high should be sold back down and if so 2808-2808.50 tested or broken through

20 Jul 2018 11:51 am
another failure at 2810 and held right at 2808 prior resistance and now a new key support area to hold to keep uptrend from breaking and decent pullback began. Should be hard to make a higher high and take out 12-13 just above. Major area today and o

20 Jul 2018 11:53 am
has to go under 2808 and hold under that area after breaking through to 2806 area where a bounce needs to come from to have a shot at another bounce and not further breakdown

20 Jul 2018 12:00 pm
for this to keep rolling over the ES should not go back over 2808.50-2809 and hold very long before turning right back down and make another lower low on this move headed towards 2806.50 or more if it does.

20 Jul 2018 12:04 pm
so far 2806.50 was held just above, but needs to bounce back over 2808.50 at least without reversing down right away again, or still can be a top. But should at least take out 2806.50 in order to have a breakdown of some sort if this bounce fails at

20 Jul 2018 12:09 pm
should be a high in place with the bounce to and reversing at the 2808.50 level and going to 2806 so far. Needs to hold under 2808.50 area now if going to break under 2806 heading towards 2803.50-2802.50

20 Jul 2018 12:16 pm
I have a doctors appointment this afternoon, and soon will be needing to take a break before heading over there and odds are I will not be back before the close, unless I somehow get right in and right out which is doubtful.

20 Jul 2018 12:25 pm
that looks like we should stay in bearish position as long as 2808.50 area is not broken above and then able to hold after that the rest of the day. If it does go back up through that area and also the high then 12-13 major area would be a reversal a

20 Jul 2018 12:29 pm
I will send out an update if I am lucky enough to get back by 3 PM or so. Otherwise, this should make another lower low at or under 2805.75 on this leg down if it's going to continue what can be a breakdown from up here.. if not broken and a move ove

20 Jul 2018 12:30 pm
if not broken and there is a move over 2808.50 area that holds 2808 after, then there might be a shot at the 12-13 area. But still stays bearish now under 2808.50.

20 Jul 2018 12:32 pm
I think that should cover it. I will update on Sunday and meet you on Monday if I am not able to update around 3 PM today. whatever the case, I hope you have an enjoyable weekend

20 Jul 2018 03:07 pm
I literally just got back in the door from my appointment and see that even though 2803.50 was reached and gave a bounce it turned down right at the 2808 resistance again and tested the weekly low and bounce, so right now need a move above 2805-2806

20 Jul 2018 03:10 pm
this bounce should be sold and hold under 2805-2805.50 at the highest

20 Jul 2018 03:15 pm
2803.50-2802.50 zone key support to hold or break under in order to have a break down to or through 2800 area now. It should stay under some pressure as long as holding under 2805 area

20 Jul 2018 03:21 pm
bounce from 2802 has to keep going over 2804 area and not be quickly reversed if it's going to try to push up through 2805.25 bounce high area and instead of another move lower towards 2800

20 Jul 2018 03:24 pm
should be some short covering on another pullback but still needs to get over at least 2804 without being rejected or else so can to or through 2802. A move over 2804 that can hold still needs to go over 2806 without reversing. Just stay with the sho

20 Jul 2018 03:28 pm
okay, time for me to cut out. if there is not a reversal with gusto from down here than the ES could go under 2800 and finish the day/week in the 2700s

20 Jul 2018 03:31 pm
I said last night that the market would close lower today and right now only the NDX is up by a fraction of a point right now. It should stay in a downtrend and finish on a poor note holding under 2803.25-2803.75 right now. A failure and that area

20 Jul 2018 03:35 pm
bounce should still be sold as the SPX should close under 2804.49 and the ES under 2805.50. have a nice weekend!



INTRADAY LOG FOR THURSDAY - JULY 19, 2018

19 Jul 2018 08:56 am
good morning. The lower open should be under pressure holding under 12.50 and taking out yesterdays low at the 2707-2706.50 area should mean that a high is in place. Look for shorting opportunities as the bounces should fail today possibly into the

19 Jul 2018 09:04 am
if the ES ends the day at or below 2802 then could be setting up for a sizable drop after one more bounce fails. The 2807-2806 area should hold if reached or else could be in some trouble

19 Jul 2018 09:05 am
I will the online at around 9:30 and then update here again a little bit after that is over.

Tuesdays, Wednesdays, and Thursdays from 9:30am-11:30pm Eastern Time are our Live Audio/Visual Training 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.

19 Jul 2018 11:47 am
we had an early run-up to new resistance at the 2812 area set up a short and another bottom made on a quick poke under 2802.50-2801.50 and then after a bounce stalled out it was bought again, and trending up since and needs to stay above 2808 now or

19 Jul 2018 11:50 am
since this bounce started all of the small pullbacks have been bought and has not gone under and held under 2808 area which pivotal area now, and could be a breakdown area if a hold under 2812 on this bounce

19 Jul 2018 11:55 am
2809-2808 area should be important to hold otherwise could begin to top out up here, stalling after getting to just under 2812 again

19 Jul 2018 12:03 pm
has to continue holding under 11-12 at the most and it will stay vulnerable for a break down through 2808 area and if that sticks under 2809.50 area and turns down on a bounce, then a high could be in place instead of just a pullback

19 Jul 2018 12:10 pm
2808.50 was reached and bounced back to 10.75 and still holding under resistance and right at support which should be broken through on this move and if so 2806 important or else bigger breakdown underway

19 Jul 2018 12:15 pm
about to breakdown to or through 2808 and maybe 2806 holding under 2810 area much longer

19 Jul 2018 12:19 pm
would need a good run up to 2810.50 or more and then must hold 2810-2809.50 and turn up again to attempt a turnaround over 2812, but not going to happen and test or break 2806 holding under 2809.50 area or lower now

19 Jul 2018 12:25 pm
the market is still in pullback mode off of the 2011.50 lower high on the bounce and almost to the 2806 area where there needs to be a bounce or else begin to have a bigger breakdown that could go back towards the low area

19 Jul 2018 12:27 pm
I am going to be away until around 1:15-1:20 but will update ASAP as soon as I am free. At the moment this is still a short on bounces holding at or under 2808.50 pivotal area and 2806 potential further breakdown area possibly towards the lows

19 Jul 2018 12:45 pm
2 tests of 2806 key support area and needs to go back over 2809 area and not turn right back down or will break through that area and if not a quick reversal up has a chance of 2803-2802 or more again

19 Jul 2018 12:53 pm
ES needs to hold under 2808-2808.50 have the very highest, and more likely the 2807 level should have good resistance if this is going to go to the 2803-2802 area on this leg down

19 Jul 2018 01:00 pm
ES will need to hold under 2807 area now in order to make the another move down to or through 2803-2802 area. If broken and a move back up over 2808.50, then could be turning back up again for a little bit if the 2807 level is not broken on a pullbac

19 Jul 2018 01:10 pm
not sure what happened with the run-up to 10.75 in right back down to 2803.50 and just above the 2803-2802 new support area. Another touch of that area will need to spring back again but not reverse right away, otherwise a chance of going under 2800

19 Jul 2018 01:26 pm
another run-up app for the initial pop and drop and pop and pullback which turned up at 2805 and now important support to hold over on a pullback – should hold 2808-2807 if going over 2811.50-2812.50

19 Jul 2018 01:28 pm
a small pullback should hold 2808.50-2807.50 if going to have a shot at taking out 2812.50 area, but would need to stay up there and have some follow-through and set of another reversal which there has been several so far today

19 Jul 2018 01:35 pm
it's choppy two-sided action, and if there is another decent pullback it most likely will be bought again. Today buyers have been coming in pretty fast and has not been below 2803.50 for only a few seconds 3 times it was touched or broken. Should not

19 Jul 2018 01:38 pm
test or break 2812-2813 area on this move and should hold 2810 on a dip if it's going to have a role strong run-up and not begin reversal of some sort

19 Jul 2018 01:46 pm
should hold at or above 2810.50-2809.50 and quickly turn up, or else could be top if a reversal down from this resistance just above around 2812-2813

19 Jul 2018 01:53 pm
still cannot power through 2812-2813 resistance and going back under 2808 pivotal area without getting turned up could mean further downside to test or hold over 2803.50 key support area

19 Jul 2018 01:56 pm
so far pullback turned up at 2808.50 and that keeps the ES from further downside at the moment and still could try for the 2812-2813 area but probably have a hard time holding – unless broken above with good momentum straight up to 15.50 or more

19 Jul 2018 02:00 pm
would need to take out 2808.50-2808 area in order to avoid possible move over 2812.75 early high area, although my have trouble staying up there if reached on a feeble pop-up and gets rejected

19 Jul 2018 02:08 pm
at the height and should keep going unless there is a move back under 11-10 area and stay under 2811 area after breaking 2810. Another push to a higher high can happen otherwise

19 Jul 2018 02:10 pm
13.25 token higher high made without any follow-through so must hold 2811-2810.50 or else can keep going to or through 2808.50 2808 key area to hold to avoid potential break down the rest of the afternoon

19 Jul 2018 02:14 pm
beginning to break down a bit from the token higher high but as long as this pullback does not go through 2808.50-2808.00 then another bounce can happen but likely fail to make a higher high. 2810.50 needs broken to break the pullback symmetry

19 Jul 2018 02:19 pm
2812.50 looks like the polar opposite of the 2803.50 level on the low area, only above for a few seconds on the upside before being turned away. But, stays in an uptrend and buyers still in control as long as 2810.50 area continues to hold. If not th

19 Jul 2018 02:21 pm
need to go over 2812.50 and stayed over that level for longer than just a a few seconds otherwise another failure. Good to sell against for a scope at least

19 Jul 2018 02:28 pm
the ES has been struggling to take out 2812.50 and hold over that area and if this goes much longer without a higher high that holds it could begin to break down. Will need to go under 2810.50 and not turn right back up like it has been

19 Jul 2018 02:31 pm
another touch of 2810.50 turned up and as long as that level continues to hold, but ES will ovoid another decent pullback. Not sure how much upside there is but first needs to go over 12.50 and hold, or it remains vulnerable for a late day drop

19 Jul 2018 02:37 pm
ES stuck in this range about 30 minutes and somewhat similar to yesterday before a pullback and then run up after and should be a test of 2808.50-2808 area on this move holding under 2812 right now

19 Jul 2018 02:43 pm
the ES so far has held over 2808.50-2808 pullback support which must hold to avoid late day pullback, but a chance for this to bounce towards the high but needs to at least get over 2811.50 or else can roll over again

19 Jul 2018 02:45 pm
need to come down and take out 2808.50 area at least before another decent bounce attempts possible and if not held then could keep going towards 2803.50 late

19 Jul 2018 02:48 pm
rolling over and will stay in a good downtrend as long as 2810.50 area is not broken and held after that again. unless that happens, could still take out the 2808.50-2808 area here and keep the move going back towards 2803.50 and maybe more if moment

19 Jul 2018 02:50 pm
downtrend stays in tact holding under 2809.50 at the highest now, should hold under 2808

19 Jul 2018 02:51 pm
target on this would be down around 2805 in case it stops before reaching the lows or at least tighten up a stop in case of a bigger down move

19 Jul 2018 02:53 pm
this 2807-2806 area was kind of pivotal in crisscrossed several times today but there has been reactions around that area and a bounce needs to go up over 2808.50-2809 or else keep going down after failure

19 Jul 2018 02:56 pm
with the ES topping and reversing just after 2 PM and 30 minutes of sideways led to this breakdown and it should have another leg down holding under 2808.50-2809 and could be going to war through 2805 and then key area around 2802.50-2801.50 but woul

19 Jul 2018 03:01 pm
consolidating for a last hour move just over 2807-2806 support, breaks below that zone went to 2800.25 early and 2802.00 on the second and spike to 2803.50 on the third. That is the major area today, although right now has a chance of a better bounce

19 Jul 2018 03:05 pm
needs to keep climbing to test or break 2810.50 and then hold around 2810 area and back up again instead of keeping going down again

19 Jul 2018 03:13 pm
could be another bounce from around 2807-2806 but if not a good bounce back over 2810.50 then the bounces will keep being sold until late in the day. You might want to be short something as this looks like it will be more than just a one day selloff

19 Jul 2018 03:13 pm
if the market is going to stay in this range between the high and 2803.50 pullback low area and area only under for a few seconds today, then it needs to begin a bout soon and get over 2807-2808 or else that area will be tested or broken late in the

19 Jul 2018 03:23 pm
2805 was reached to cover short positions, but still feel that this is not over on the downside and should end up going through 2802.50 before this is over at a minimum

19 Jul 2018 03:25 pm
I need to go about 5 minutes early today but the selloff can keep going as long as 2808-2808.50 is not taken out and able to hold instead of being sold off again.

19 Jul 2018 03:26 pm
if there is a run-up over 2808.50 area that can hold around 2808-2807.50 at worst and go back up, then maybe a chance for a move back up but it won't go far before being sold. shorts can be held until sometime tomorrow as this should be more than jus

19 Jul 2018 03:27 pm
have a great rest of the day. I will meet you here tomorrow morning after you have read the nightly update. Take care!

 

INTRADAY LOG FOR WEDNESDAY - JULY 18, 2018

18 Jul 2018 08:57 am
good morning. If the ES opens lower it's going to have a run-up that should have trouble going back above 12-13 on the open

18 Jul 2018 09:07 am
the ES holds under 12-12.50 and goes under 2807-2806 it could be a bigger pullback/selloff today and tests or break 2002.50-2801.50. keep an eye on the VIX which just moved up from 11.60, and really should go to much further (before reversing

18 Jul 2018 09:09 am
I will meet you online at 9:30 and then back to sending updates on the site around 11:45 roughly

18 Jul 2018 09:17 am
10 need broken held

Tuesdays, Wednesdays, and Thursdays from 9:30am-11:30pm Eastern Time are our Live Audio/Visual Training 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.

18 Jul 2018 11:43 am
the ES rejected 14 high area from yesterday on the open for a shorting opportunity and then a double bottom made at the 2807-2806 support reversed and the rebound took out yesterdays high by 1 tick so far but stays in a good uptrend unless 14-13 brok

18 Jul 2018 11:51 am
current double top at resistance and yesterday high area, but with 13.75 being a pullback low so far and at the 14 area where the ES made a double top yesterday and was sold around 13-14 on 4 different tests, and needs to go under that area and then

18 Jul 2018 11:57 am
need to take out 16 and not turn right back down in order to keep this going, a reversal back down through 14-13 would likely confirm a high. Otherwise, over 16.50 is minor around 18-18.50 and then the 22 area big if reached

18 Jul 2018 12:02 pm
almost to the 18-18.50 area and could stop shy here and pullback to the around 16-15.50 and would need to turn up again, or else going back under 14-13 area could end up starting and other pullback of some sort

18 Jul 2018 12:07 pm
pullback held right at 16 prior high and turned up and if this action continues it could make it to the 22-22.50 area. Need to hold 16

18 Jul 2018 12:13 pm
pullback from updated resistance at 18-18.50 just touched and backing away at the moment but as long as the 16th area holds it will avoid a potential top, the NQ looking top-heavy but needs to break 7404-7402 and not get turned right back up

18 Jul 2018 12:17 pm
almost to the 16 area and if broken by much then bounces are going to be failing this afternoon

18 Jul 2018 12:20 pm
I will be on a break until around 1:15 but will update ASAP as soon as free if an update is needed. Right now it is looking like bounces from here should fail and the 14-13 area important support to hold on further pullback

18 Jul 2018 12:42 pm
the ES 2818 updated resistance and has backed away just 1 tick below the 16.50-15.50 prior resistance, and now needs to go back over 17.25 and not turn right back down, or else a daily top and possible short term top could be in place at the 18 resis

18 Jul 2018 01:20 pm
the ES has rollover and reached the 15 level where it needs to hold and bounce back over 17 or else risk a test of the 13.75-13.25 area at a minimum

18 Jul 2018 01:31 pm
in a position where it could make a run-up from here and go for a test or break of the high so if it does not and inns up taking out 15 then a high should be in place and bounces fail after that. Should have a high end anyways

18 Jul 2018 01:32 pm
more in tonight's update but the VIX reached a level coinciding with tops except for when and a melt up mode which doesn't and well anyways and buying the VXX around 31 or better not a bad idea

18 Jul 2018 01:33 pm
and selling bounces should continue now holding under 16.50 The highest right now

18 Jul 2018 01:38 pm
I am buying some put options, a drop coinciding with the VIX making a jump would pump up the premium on the options and in the put options especially. If this does break out and hold over 16.50 this afternoon, then it could be more of a buying frenzy

18 Jul 2018 01:50 pm
the VXX bought at 30.99, it can be very volatile and only moves about half the percentage move by the VIX, so a stop at 30.68. A target at 30.32 if reached today, otherwise holding with stop at breakeven. ES needs to continue holding under 16 now, wh

18 Jul 2018 01:52 pm
12.50-12 area is the middle of today's range and still stays under pressure holding under 14.50 area now

18 Jul 2018 01:57 pm
beige book release in about 4 minutes, won't be surprised if it cause a reaction of some sort

18 Jul 2018 01:58 pm
with the pullback coming into the release it should take it in a bullish fashion initially. If a quick drop it should pop back up and then must not stall out or be quickly reversed

18 Jul 2018 02:07 pm
12.50 is the 50% retracement and 12.75 pullback low so far should continue to hold on another pullback if this is going to keep its bigger uptrend and avoid a move back to 2810.50-2809.50 area

18 Jul 2018 02:11 pm
this 16.25 level is where the last pullback to 12.75 started from and turning down just under that level is keeping pressure on to go back to the 12 area and possibly through if no reversal from a higher low instead

18 Jul 2018 02:13 pm
in any case, there is still some pressure holding under 15.75-16.25 area for now and what should be important support around the 12 area or else keep going to/through 2810-2809.50. The 14.25 hi from yesterday is turning into pivotal area

18 Jul 2018 02:27 pm
can be another pullback from around the high and possibly leave a 123 kind of top if a reversal down from just under 18 otherwise can keep on going towards the 22 area before the end of the day

18 Jul 2018 02:39 pm
ES turned down from just under 17 however another feeble pullback that holds and turns up from 14.50 or higher needed to keep this move from failing and trying for a higher high instead

18 Jul 2018 02:41 pm
backing away again and going under 14.50 without a quick turn up opens the door to go to war through 12.75 pullback low and just over 50% retrace from early low to the high and maybe lower

18 Jul 2018 02:48 pm
ES should be on its way to take out the high now, also keep your eyes on the Dow cash as it will need to also take out its high if the move is going to have a chance of sticking

18 Jul 2018 02:49 pm
14.50 held by 2 ticks before liftoff here, and should not go back two more through that area the rest of the afternoon. Should only be somewhat small pullbacks if going for the 22 area, not a double top

18 Jul 2018 02:53 pm
big failure on that move, as the market is still going to have trouble holding gains even if a higher high is made. At the moment there is a 123 top in place which is bearish under 2807.25 at the moment, but no breakdown unless there is a move under

18 Jul 2018 02:57 pm
on the flip side of the coin, the bounces that are sold should keep being bought after a small pullback as long as 14.50 area is not broken and then held under 16.50-17 at most after that

18 Jul 2018 03:18 pm
the ES has been stuck at or below 17.25 over the last 25 minutes, but also stuck over 15.50 just as long. The ES will need to take out the 15.50-14.50 area to have any sort of reversal from up here, and they break out higher should be more likely alt

18 Jul 2018 03:27 pm
123/double top at the moment, pullback more likely before going higher again as long as there is not a drop back down through 15.25-14.50 not turned back up with gusto

18 Jul 2018 03:31 pm
in the last 30 minutes the ES needs to keep holding at or above 15.50-14.50 area in order to keep a good uptrend with a shot at higher highs and a long shot late day run-up towards the 22 area

18 Jul 2018 03:41 pm
at the moment we have a double top in place, and only has a chance of going back up there if the 2805.50-2804.50 area holds and gives a bounce with some gusto, otherwise continue moving down and possibly have a decent sized pullback before the closin

18 Jul 2018 03:42 pm
have a great rest of your day! Read tonight's update and then I will catch you here in the morning. Take care!

 

INTRADAY LOG FOR TUESDAY - JULY 17,2018

17 Jul 2018 09:07 am
good morning. after yesterday's narrow range day, one of only 3 single-digit ranges since January, going to get a gap down open. hasn't been 2 consecutive down closes in 3-4 weeks and should break that streak today

17 Jul 2018 09:09 am
if you still have a partial short position on as noted yesterday, with going online at 9:30 AM just look to take profits on the lower open.

17 Jul 2018 09:11 am
if you are with us in the live session I will manage that part of the swing trade until leaving work covering. Next update here will be after the live session is over. Good luck

Tuesdays, Wednesdays, and Thursdays from 9:30am-11:30pm Eastern Time are our Live Audio/Visual Training 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.

17 Jul 2018 11:47 am
the ES has been in a trend up move with only a 2.50 and 2.75 point pullback from the high all the way up so far and as long as the ES holds on another small pullback of 2-3 points maximum holds and turns up this could last into the close

17 Jul 2018 11:55 am
2808.50 is one measured move for resistance and then if broken through and pullback <3 points after that turns up, there is a longshot chance of seeing 12.50-14.00 area today

17 Jul 2018 12:02 pm
backing away of that 2808.50 reversal area,should not go back under 2806 prior high area now or else could begin a topping pattern of some sort or a friend reversal especially going back to or through 2003.50-2802.50

17 Jul 2018 12:12 pm
pullback holding 2 points from its high and turning up and will need to continue holding 2806-2805.50 or else a topping pattern could be starting

17 Jul 2018 12:16 pm
we already had the VIX drop down to 12.03 and turn around 11:20 AM and should not under that level today or else reversing will give lots of VIX sell signals. However, right now uptrend intact as long as 2806.50 continues holding and on the way to s

17 Jul 2018 12:18 pm
possibly on the way to 12.50-14.00 or more before this move gets reversed or at least a decent pullback

17 Jul 2018 12:24 pm
12.50-14 area being reached and could also be broken through as long as the ES holds 11-10 and turns up or just holds over that area

17 Jul 2018 12:34 pm
the ES stall out and now backing away from the 12.50-14 area and needs a bounce from 2810 otherwise a bigger pullback than normal is underway and 2808 and then 2806 car the keys support to hold

17 Jul 2018 12:39 pm
I need to be away until at least 1:15 but will update if necessary and I am free however I will be tied up on a phone call for a while. With this top at a major resistance for this so far, versus strong uptrend and momentum, needs to take out 10 at l

17 Jul 2018 01:15 pm
another 2.50 point pullback was bought at 10.25 and the ES keeps its trend up move going and now will need to keep holding over the 12 area in order to keep this strong uptrend from a potential topping pattern. The move could last into the last 90 mi

17 Jul 2018 01:17 pm
14 top of resistance zone has turned this back, and should only be temporary as long as the 12 area is not broken below and then held under 12.50-13 and turned down if reached after that

17 Jul 2018 01:25 pm
after an nearly uninterrupted move up to 2814 the move stalled out there about 4 minutes and just came down to 2811, and quickly for the first time today. A high could be in place and if not then one more pop-up will be sold into

17 Jul 2018 01:30 pm
the VIX already went down to 11.95 and turned up and then pullback to 12.05 at the top and has a reversal, so if 14 is tested it probably will stay over 12 area now, unless some sort of blowoff top of around 2818 or possibly 2822 area

17 Jul 2018 01:30 pm
– kind of doubtful right now, especially breaking 10 and holding at/under 12 area on a bounce after and down again

17 Jul 2018 01:35 pm
3.50 point pullback is the biggest all day, and a chance of making a top up here also holding under 14 resistance and turning down again. Just now began to back off after a pop-up failed and should happen if another pop-up occurs

17 Jul 2018 01:42 pm
looks like a failure to hold 10.50-10 that the ES could then go to around the 2808 area which is just 1/4 of the way 2814 resistance back to 2790.75 low on open

17 Jul 2018 01:46 pm
if this has trouble getting over 14 and hold back again, it still should be bought and then take out 14 on another push higher if this is going to stay and trend up mode into the very late day trading. Just look for pullbacks to buy in less there is

17 Jul 2018 01:57 pm
could have made a double top with the ES being rejected 1 tick over the 14 level and top of the 12.50-14.00 area and must hold the 10.50-10 area or else keep going to war through 2808 at a minimum

17 Jul 2018 02:03 pm
with double top in place and testing 10.50-10 for a possible break to Lord through 2808 and a bounce should fail. 20 2806 now major area to hold over

17 Jul 2018 02:06 pm
holding under 11.50-12 area and now keeps pressure on, and needs broken above and held in order to avoid breakdown of some sort

17 Jul 2018 02:10 pm
2810 holding so far and if broken look for 2808 and possibly test or break 2806 area which should be an important area to hold, but needs to go over 12.50 area and not turn right back down, otherwise possible to drop towards 2802.50, also a 50% retra

17 Jul 2018 02:18 pm
so far the ES had a bounce high at 11.75 and just barely holding the 2810 level at the moment but will be broken unless 2812 broken above and held soon

17 Jul 2018 02:21 pm
at the moment as long as the ES can hold the 2810 level then it has another chance for a run-up that could test or break the high, although may not be able to stick if it does

17 Jul 2018 02:23 pm
a move over 12 that holds can get this on a move back up towards the high area

17 Jul 2018 02:31 pm
there is just over 90 minutes left until the 4 PM close were stocks, and with this being a trend up day with a double top at 14.00-14.25 top of resistance and 10.25-10.00 as a triple bottom after noon, and should keep getting bid back up from 10.00 o

17 Jul 2018 02:37 pm
if this tests the high it's likely that the VIX will drop under 12 again – – and it hasn't closed under today's 11.95 (or even been under 11.63 low from yesterday, except for the for the January parabolic run-up

17 Jul 2018 02:40 pm
should be a high in place on that bounce, but if not, with the VIX just going to 12.00, it will easily go to or through 11.95 if the ES makes a new high, and stretched to where it starts keeping the market down

17 Jul 2018 02:41 pm
in any case, the ES will avoid any late day trouble as long as 2810 holds

17 Jul 2018 02:43 pm
as long as 2810 area holds this has a chance to rally until the last 15 minutes or so, if the pattern plays out like most trend days

17 Jul 2018 02:47 pm
right now it looks like 2811 should hold

17 Jul 2018 02:50 pm
any fear of even a decent pullback evaporating as the VIX makes a new low at 11.94 and closing under 12 would mean a big red flag

17 Jul 2018 02:51 pm
could coincide with a bounce high as this has filled twice at the 13 area and holding just below 14 resistance

17 Jul 2018 02:55 pm
the middle of the 12.50-14 resistance is holding this down, however yet another test of 2810.25 was turned up. If there happens to be another higher high instead of a failure, it should be sold also

17 Jul 2018 03:06 pm
the ES poked down to 2809.50 and if there is another pullback from under 2813 it should hold at or above 2808.50 or else could come back to test or break important support around 2807-2806 area now

17 Jul 2018 03:19 pm
needs to have a pullback hold around 12.50 area or higher for a chance of going to move up through the 14.00-14.25 area

17 Jul 2018 03:20 pm
with the pullback low at 2809.50 reversing up at 3 PM, it keeps this going in a trend up kind of move that could still last until the final 15 minutes or so

17 Jul 2018 03:22 pm
should keep holding 13 if going towards the 18 area which is next resistance

17 Jul 2018 03:23 pm
and if this makes it that far then the 14.50-13.50 area should turn into an important support area to hold

17 Jul 2018 03:27 pm
in the last 35 minutes of trading today the ES should hold the 13-12 area on a pullback and turned up again if it's going to keep this move going into the very late daytrading. If there is a break of 12.50, the door is opened to test/break 10.50 and

17 Jul 2018 03:33 pm
have a good rest of your day. another lower low on the VIX and that's going to likely cause some reactions going down to the low 11.90s and especially if turns back up

17 Jul 2018 03:34 pm
update this evening and then I'll start with a quick update before we go online at 9:30 AM. Have a great rest of the day!

 

INTRADAY LOG FOR MONDAY - JULY 16, 2018

16 Jul 2018 09:12 am
good morning. This market could easily fall apart from up here however looks like it needs to go through 2800 and not turn right back up over 2802 have early pullback which has been bought

16 Jul 2018 09:16 am
if short from Friday either cover at the open and and either wait for a breakdown under 2800 or else a move up towards possibly 2808 area if reached

16 Jul 2018 09:20 am
felt there could be a gap down open the way the market was acting at around the highs on Friday. I will update a little bit after the open and then try to update less and not every 5-10 minutes unless necessary

16 Jul 2018 09:28 am
needs to go over 2806 and hold 2804.50 after that and up again to break out higher, or else take out 2800 and hold 2802 area instead of a good bounce from 2800 to have a top in place. The NQ should have a decent pullback today

16 Jul 2018 09:34 am
2801.50 need to be broken to get a decent pullback and fired be backing away around 2805-2806 or if not then run-up to or through 2808.50 area and reverse or pullback

16 Jul 2018 09:36 am
should be sold if one more pop-up as a high could be in place if 2804-2805 area held under

16 Jul 2018 09:40 am
bouncing from initial support but that will break holding under 2804 as this is bearish under that level right now for a breakdown if 2804-2805 not taken out and held

16 Jul 2018 09:41 am
a short with a stop at 2804 now

16 Jul 2018 09:44 am
2800 holding at the moment and needs to break that level and then hold under 2802 on a bounce afterwards to get a breakdown, but still needs to go through 2806 and hold 2804 on a dip or else top out

16 Jul 2018 09:47 am
should be an important top in place that bounces failing holding under 2801.50-2802.50 area now. Would need to be broken above and held after

16 Jul 2018 09:50 am
if a run-up takes out 2802.50 and hold then a chance it could make a better move higher but holding under keeps pressure on and a breakdown still under Friday's last hour low

16 Jul 2018 09:56 am
stalling at the 2802.50 and pullback it needs to pop right back up from 2799or higher, if 2702.50 broken need to keep going through 2803.50 and barely pullback to test the high

16 Jul 2018 10:01 am
stall at 2802.50 started quick drop to the 2799 updated level and quickly bounce and needs to 2802.50 and then stick now, or take out 2800 and stick on the downside

16 Jul 2018 10:07 am
unless the ES takes out 2802.50 and holds, pressure will be on and if 2800 is broken and held under 2801 then pressure even more on downside to or through 2797 first

16 Jul 2018 10:09 am
I suggested a short earlier and should stay with this and a stop at 2802.50 right now has that should not be reached if breaking down

16 Jul 2018 10:16 am
at the early low at 98.50 and should keep going to or through 97.50-97 if not a bounce from 98.50 soon, and would need to over at least 2801

16 Jul 2018 10:21 am
pressure is going to stay on holding under 2801 area now. – – Need to be a way about 10 minutes or so and will update after that.

16 Jul 2018 10:29 am
97.50-97 area was reached and broken by 1 tick and turned up, and now going back over 2800 and not turning right back down to get another move to the upside going for a little bit

16 Jul 2018 10:33 am
that's going to be an important low at 97 and the 2801.50-2802.50 area resistance that needs cleared and held in order to attempt they break out on the upside for a while or else stay in a range 5-10 minutes

16 Jul 2018 10:45 am
sold at 2801.75 and new updated resistance and unless broken/held bounces should be sold down to a through 97 area

16 Jul 2018 10:50 am
with the VIX reversing from an extreme extreme at 11.63 Friday and only time there since before the bubble top in January, and turning up today consider buying the VXX – right now the VIX up 5% and VXX lagging but will jump up if the VIX makes a ju

16 Jul 2018 10:50 am
especially with this making a lower low after a lower high and the Dow cash making a triple top and breaking its lows

16 Jul 2018 10:51 am
stays under pressure holding under 99 area now area

16 Jul 2018 10:58 am
"normal" pullbacks have been 8-12 points and so far about 9 point pullback from the high post today, should go another 3 points or more under the low and could be quite a few more if only feeble bounces keep failing

16 Jul 2018 11:00 am
stop is now at the 2802 level as the last swing high should not be reached now. That number will come down after reaching 93-92 target/support for shorts and probably a low above

16 Jul 2018 11:01 am
before another failed bounce and then break through. Just now bouncing from 95 needs to get back over 97-98 and stay up there over 97 hold

16 Jul 2018 11:06 am
suggest keeping an eye on the Dow cash along with the tick extremes on the upside (so far, until one does not coincide with bounce high) to help with turns on ES. Right now can be a low in for a bit if 97 taken out and held without a tick extreme on

16 Jul 2018 11:18 am
99.75 is the middle of today's range, and holding at or under 2799.50-2800 area keeps this just a bounce and chance for a move towards the low better than up to the high

16 Jul 2018 11:23 am
there was a tick extreme 5 minutes ago and causing this stall just under the middle of today's range, and needs a move over 2799.50-2800 or else could go back down towards the low area if 98 broken below and then hold under 99 area

16 Jul 2018 11:30 am
99.50 bounce high so far and need to take out 2799.50-2800 and stick next, or fail and go under 98 and then hold under 99 or else could keep grinding higher here

16 Jul 2018 11:33 am
should break down through 98 within the next 2-4 minutes maximum if it's going to and not make a move over 2799.50-2800 instead

16 Jul 2018 11:36 am
still holding under the 99.50 updated resistance and midpoint of today's day session range and as typing just reached 98 and needs to hold under 99.00-99.50 to keep some pressure on although they break/hold under 98 needed to get downside going

16 Jul 2018 11:45 am
2800 rejected and that's as far as this bout should go if it's going to stay under pressure and vulnerable for a break down to or through 98-97 and if broken then holds under 99 area at most and turned down again.

16 Jul 2018 11:51 am
pullback reached 97 and should hold under 98.50 area at most now if it's going to head back down through 97 and hold under 98 area after

16 Jul 2018 12:01 pm
with the ES holding under 99 area now it can go back to or through the 95 low area and possibly test or break through the 93-92 area before this is over today or tomorrow in could be quite a bit lower

16 Jul 2018 12:06 pm
97 support is key area now that needs to keep holding to keep the market from bigger pullback

16 Jul 2018 12:09 pm
also still keep an eye on the Dow cash as it will need to break 25,008-25,003 area along with the 97 area on the ES and then a bounce holding under 98 area after that in order to have further breakdown to or through 95 low

16 Jul 2018 12:18 pm
another push under 97 needed or else not going down to test or break the 95 low of the day. Will need to fail again at or under 99 or else another dip will be bought and run up again from 97.50 or above

16 Jul 2018 12:20 pm
I am going to need to be away until around 1:15, but will update if necessary and not stuck on a phone call. Right now it looks like a low and a high are in place for a while as long as 97 holds

16 Jul 2018 12:24 pm
the ES starting a good run up here and currently positive at 2801 and keep your eye on the Dow cash still as going over 25,044-25,051 area is a triple top just above to break through if ES is going to go back up towards its high area or just below

16 Jul 2018 12:28 pm
this could turn out to be a bounce high of some sort but stop was at 2802.25 at the highest and was just touched, and with the doubt cash at its resistance the ES either breaks out higher towards its high of the day or stalls and rolls over from this

16 Jul 2018 12:28 pm
2802.50 needs reached at a minimum to avoid polling back to work through 2800 area again

16 Jul 2018 12:31 pm
okay, break time. Needs to have just a small pullback and go up through 2802.50 without turning right back down along with the Dow cash taking out 25,051 and not being rejected again. Next update in about 45 minutes, key area and could reverse here

16 Jul 2018 01:01 pm
with the ES pulling back with the ES pulling back to the 2500.50 level and turning back up, that is keeping this bullish at the moment and would need to come back under 2800 now in order to change direction and leave a high in place.

16 Jul 2018 01:05 pm
Going over 2802.50/holding area with the Dow cash going over 25,048-25,052 area and sticking needed to get outside going with some gusto towards the high of the day instead of of possible top if not broken

16 Jul 2018 01:18 pm
as long as the ES continues to hold 2800.50-2800 area and not go back under and hold under that level it will be okay but still needs to get over 2802.50 or odds are going to be better for a move back on the downside

16 Jul 2018 01:21 pm
I still need another 10 minutes or so, and will update after that if needed. It's been slow since 11 AM after a choppy two-sided move down to 95 reversed with the exception of a couple of fast strong moves higher. With pop and reversal over/under 280

16 Jul 2018 01:26 pm
moving back under 2800.50 and then staying under 2801.50 after that should put this top in place for a while and head to or through 98.75 area

16 Jul 2018 01:44 pm
2800 holding and unless the ES takes out 2800 and stays under 2800, the ES will avoid any kind of breakdown today and stay in a two-sided market with a chance at a test or break of the spike high at 2803.25. However, that upside should be hard to hol

16 Jul 2018 01:47 pm
keep an eye on the Tao cash still as it has a double top at 25,051 and 25,049 which coincided with the quick pop and reverse over 2802.50 and it looks like a short under that level which is barely above here if a little pop-up fails as it could go th

16 Jul 2018 01:57 pm
a slow pullback reaching 2800.25 so far and could keep going through 2800 and if so the 98.75 level needs held or else possible pickup and momentum

16 Jul 2018 02:04 pm
pop-up sold into at 2801.50 and stays under pressure holding under 2801.50-2802 area on a bounce attempt if no break under 2800 area first

16 Jul 2018 02:05 pm
beginning to have a breakdown starting around 2 PM with the Tao having a double top and now holding under 25,040 and should stay under that area in order to keep pressure on for further pullback to or through 98.75 which could be pivotal area around

16 Jul 2018 02:12 pm
this reversal up from 99.50 so far back up to 01.50-02.50 bottom of new resistance and as far as this should go in less heading up to the high on the Dow cash and 2803 or more and not going back to or through 99.50 area again

16 Jul 2018 02:17 pm
all of the pop-ups are being sold and now at the 2801.50-2802.00 area and tops on the Dow cash around 25,049 and buyers coming in on thin pokes lower quickly coming up at 99.50 so far, looks like trouble oh avoided unless or until broken/held under 2

16 Jul 2018 02:27 pm
continuing to fail at 2801.50-2802.50 area, but also holding 99.50 and pretty soon should break down through that if held under that soon

16 Jul 2018 02:32 pm
should still be a short under 91.50 which is just 2 points above for a potential break down at least test or break 98.75

16 Jul 2018 02:33 pm
should go further if that area is reached as bounces should keep failing unless quickly reversed with some gusto, and same if breakdown with some momentum

16 Jul 2018 02:40 pm
breaking down easily to 98.75 and stays under pressure holding under 2800.25 area now

16 Jul 2018 02:43 pm
both the ES and especially the NQ breaking down and if the Dow catches down and goes towards its low then the ES easily reaches the 93-92 support instead of a higher low just above 95 to avoid that for a while at least. It's bearish now under 99 Max

16 Jul 2018 02:47 pm
if you went short up there with 2 point stop at most, there was no "heat" on entry and need to take out higher low at 96 and have the Dow rollover from under 25,026 area if going to 93-92 target/support

16 Jul 2018 02:48 pm
with this narrow range day so far he should at least cover part of short position down here around 96 or better if he can for now and keep part on or possible lower lows

16 Jul 2018 02:51 pm
should have some profit log in now. This bounce needs to get the over 98 area and not get turned down a again or else sell heading to work through 93-92

16 Jul 2018 02:56 pm
ES so far held 1 tick above the early pullback low down at 95 and needs to hold here and take out 97 area in order to attempt a run-up or bounce of some sort

16 Jul 2018 03:07 pm
stall out and leaving a double bottom for now but if this bounce fails to clear 98.50-99 area on this move up and said of going right through it then one more leg down rather than end of day rally starting now a little early I think for today

16 Jul 2018 03:09 pm
again at the end of the day keep your eye on the Dow cash as it will need to hold its pullback low area around 25,010. Possible breakdown if broken through but should be higher lows and in the day with a bounce again

16 Jul 2018 03:12 pm
except for this bounce should fail, and then see how pullback does on a move back to 97 area, which should be maximum to avoid another move towards lows which does not look doable

16 Jul 2018 03:16 pm
need to cut out a few minutes early today, but if you are still holding a short should be out but if not then 2800.25 needs taken out and not turned right back down for this to keep going and avoid failure again

16 Jul 2018 03:18 pm
this pullback should not go any further than the 97 level, and if broken by much then backed towards the 95.25-95.00 double bottom and to the 93-92 area. However really should hold 97 it looks

16 Jul 2018 03:19 pm
have a good rest of the day. Update this evening and then a quick comment before a live session starting around the 9:30 AM hope. Take care!

 

I

 


 

TradeStalker.com, Investment Advisory Service, Fort Wayne, IN

 

 


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