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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 February 24th 2020

The bulls failed to hold 29,000 on Friday and are certainly paying the price this morning with the DOW down as much as 800,...

ES Morning Update February 21st 2020

The "possible" FP on the IWM yesterday didn't hold the market one bit as we kinda had a mini-flash crash. Why? I don't know?...

ES Morning Update February 20th 2020

New ATH on the ES Futures now but the DOW is still under its all time high, so a divergence between them is now...

ES Morning Update February 19th 2020

Decent move down yesterday for day traders, but then back up late in the day and into this morning. The typical chop in a...

ES Morning Update February 18th 2020

I hope everyone enjoyed the long weekend. The markets didn't do much, just a slow grind higher to make another new ATH of 3392.50...

ES Morning Update February 14th 2020

The futures were up more last night but are almost flat thins morning. They are in a nice rising wedge and near the apex...

ES Morning Update February 13th 2020

Many upside targets were hit yesterday, so we might have reached a top where a pullback can start. The move down in the futures...

ES Morning Update February 12th 2020

No big surprise this morning as the futures are up (again) after the SPX and DOW made new ATH yesterday. There can't be many...

ES Morning Update February 11th 2020

Yesterday started out with a move down but it got reversed right at the open and went up from there. It traded sideways midday...

ES Morning Update February 10th 2020

Looks like a mostly flat open here this Monday morning with the futures down small. This is the week for the bears to take...

ES Morning Update February 7th 2020

The SPX and DOW both made new all time highs yesterday and are backing off a little this morning. There's still a chance they...

ES Morning Update February 6th 2020

Futures are up again this morning some but not as much as yesterday. Higher targets are possible, like up to just under 3400, but...

ES Morning Update February 5th 2020

Ok gang, it certainly looked like and felt like a wave 3 up of some degree yesterday. It's continuing this morning as we can...

ES Morning Update February 4th 2020

Yesterday I said in the chatroom I thought we'd go up in 5 or 7 waves, and we had the wave 1 up at...

ES Morning Update February 3rd 2020

Well, so much for the large B wave up lasting into this week as Fridays drop was clearly a C wave of some degree....

ES Morning Update January 31st 2020

Well the bulls held the double bottom area yesterday and rammed up hard in the close. I was certainly getting nervous that there would...

ES Morning Update January 30th 2020

The bulls are risking losing the large B wave up scenario here this morning. If the market drops below the prior low this Monday...

ES Morning Update January 29th 2020

Futures are up some this morning as the ABC move down certainly looks finished at this point. So, if the entire move down was...

ES Morning Update January 28th 2020

The market took a beaten yesterday but should have put in a temporary bottom I believe. In Elloittwave it looks like a clean ABC...

ES Morning Update January 27th 2020

The futures took a nose dive Sunday night in what I'm thinking is a small C wave down (yeah, I know... it doesn't look...
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