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Reds Daily Updates

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

ES Morning Update October 27th 2020

Yesterdays drop took out last weeks low so it's now clear that medium wave 2 down wasn't finished. I added in a falling channel,...

ES Morning Update October 26th 2020

Here we are again... more chop but no clear direction. We could still be in the medium wave 2 down or it bottomed last...

ES Morning Update October 23rd 2020

More chop yesterday and it's starting off that way this morning. This medium wave 2 down isn't something easily read as the back and...

ES Morning Update October 22nd 2020

The slow stair step move down continues it seems. Still nothing more to add as this could drag out into tomorrow and even into...

ES Morning Update October 21st 2020

Not much to add that hasn't already been said. The market is just walking down slowly in this medium wave 2, and the smaller...

ES Morning Update October 20th 2020

Yesterday was a prime example of how tricky these short term moves are. I thought we might continue up to retest that 3550 area...

ES Morning Update October 19th 2020

The futures are up some this morning, so I guess we are still in the small B wave up of medium wave 2 down...

ES Morning Update October 16th 2020

Looks like the bears are doing well in holding the bounce to a minimum both yesterday and this morning. That rising purple trendline did...

ES Morning Update October 15th 2020

Looks like my hunch was right this time around as the high on Monday was it and we should now be in medium wave...

ES Morning Update October 14th 2020

The high put in Monday currently seems to be the end of medium wave 1 up from the low around 3200 back on 9/24,...

ES Morning Update October 13th 2020

Nice strong rally yesterday, which looked and felt like some kind of wave 3 up. With the SPX getting within 39 points of the...

ES Morning Update October 12th 2020

Well the futures continue to grind higher and higher each day. I wasn't expecting this much on the upside but I wasn't crazy enough...

ES Morning Update October 8th 2020

Surprise, surprise... not really. The market just keeps on going up, making higher highs and higher lows with moving average still aligned bullishly. I...

ES Morning Update October 7th 2020

Someone certainly wanted out of the market yesterday with that big dump around 2pm, which caused the market to go negative over 30 points,...

ES Morning Update October 6th 2020

Nice stead rally yesterday and not really a shocker. I just knew they wouldn't let that Head and Shoulders pattern play out. Sometimes they...

ES Morning Update October 5th 2020

Futures are up this morning to make the right shoulder of a nice Head and Shoulders pattern. But I really don't see it playing...

ES Morning Update October 2nd 2020

Yesterday didn't much but confuse both sides all day long with some small moves up and small moves down. Overall it was a pause...

ES Morning Update October 1st 2020

The ES Futures stopped shy of the even number level of 3400 as expected and so did the SPX. I had the 3380 area...

ES Morning Update September 30th 2020

Last nights presidential debate didn't go very smoothly in my opinion with interruption after interruption between the two parties and loaded questions that just...

ES Morning Update September 29th 2020

The market did indeed hold the early gains yesterday and continued higher into the close. It looked and felt like a wave 3 up...
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