Reds Daily Updates

Reds Daily Updates

These posts are Red's daily forecast for the short term direction of the stock market.

ES Morning Update July 11th 2018

  Yesterday about an hour after the bell the futures started down hard. Apparently more talks about the trade wars came out and caused the...

ES Morning Update July 10th 2018

  Looks like yesterdays thoughts on the bulls continuing to control the market was right as they put in another nice up day. But today...

ES Morning Update July 9th 2018

  Last Friday I guessed that we'd go up to the FP on the SPY within a few days and we actually hit it that...

ES Morning Update July 6th 2018

  Everything looks bullish still short term. The MACD's on the daily chart of the SPX are curling up nicely adding support for yesterdays move...

ES Morning Update July 5th 2018

  The market seems to know that traders are waiting to buy at lower prices (like the 2680 area) and refusing to go there. Instead...

ES Morning Update July 2nd 2018

Ok gang, this week we have a half day trading on Tuesday and no trading on Wednesday as it's the 4th of July holiday....

ES Morning Update June 28th 2018

  WOW! What a reversal yesterday... from a strong move up to another flush back down. Crazy markets! I have to say that it caught...

ES Morning Update June 27th 2018

  Yesterday we saw a bounce up from the low that could have be a wave 4 up of a C wave down. But this...

ES Morning Update June 26th 2018

  Surprise, surprise! That nasty drop out of nowhere happened yesterday. And I totally missed it. It now looks to me like it was a...

ES Morning Update June 25th 2018

  Last week the market failed to bounce in the beginning and drop through the upper trendline of the falling channel but later in the...

ES Morning Update June 22nd 2018

  I spoke about a possibly "inverted head and shoulders" pattern setting up yesterday and that the premarket pullback to the upper trendline of the...

ES Morning Update June 21st 2018

  Yesterday (I didn't do a post so don't think you missed it) the market mostly chopped around and held it's small gains until the...

ES Morning Update June 19th 2018

Looks like the futures finally broke down after a series of wave 1's down and wave 2's up. Odds are that the last series...

ES Morning Update June 18th 2018

  Looks like weeks' series of wave 1's down and wave 2's up is producing a wave 3 down this morning before the open. Generally...

ES Morning Update June 15th 2018

  Looks like the series of wave 1's down and wave 2's up has finally broken-down and produced a drop to the bottom of the...

ES Morning Update June 14th 2018

  The action yesterday after the FOMC meeting was kinda muted if you ask me. But then again we haven't seen any wild swing days...

ES Morning Update June 13th 2018

  Nothing to add today gang. It's all about the FOMC meeting it seems. I don't expect much movement until after the meeting is over...

ES Morning Update June 12th 2018

  Yesterday turned out as expected... a choppy nothing day. Today could be the same, but from past times similar there's usually a drift lower...

ES Morning Update June 11th 2018

  Ok gang, I'll keep today short as I covered most everything last week. We have the FOMC meeting this Wednesday and my thoughts are...

ES Morning Update June 8th 2018

We are finally seeing some weakness this morning with yesterdays pullback continuing into this morning, breaking the rising brown trendline of support. It's rallying...

Red's Daily Updates

ES Morning Update July 16th 2018

  I hope everyone had a great weekend. This week looks to me like it's going to put in some kind of top in the...

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