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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 11th 2016

Falling trendlines of resistance for the ES Futures MACD's on this 60 minute chart now shows positive divergence. So does the 2hr, 4hr, and 6hr...

ES Morning Update February 26th 2016

Futures now appear to be in the 5th wave up inside a C up that started at the 1920 low on 02/25.  The A...

ES Morning Update February 8th 2016

  Futures at a triple bottom MACD's in oversold area. The futures finally broke-down through the 1870 area (1880 area on SPX) where it hit 4 times...

ES Morning Update February 2nd 2016

Futures broke rising support and now look like they are headed down to around 1900 where the next support is. MACD's on this 2 hour...

ES Morning Update April 12th 2016

Futures barely inside triangle and nearing the Apex.  Yesterday's brief pierce of the upper falling trendline of that triangle failed as the market dropped...

ES Morning Update July 26th 2017

Still grinding higher a little each day it seems.  Today is the FOMC day so we might see some action after the minutes but...

ES Morning Update August 7th 2017

Good Monday morning to everyone.  Not much to say this morning as the 60 minute charts shows no clear direction and the 6 hour...

ES Morning Update December 5th 2016

The last few weeks have been difficult for sure, but with enough time all things get better.  Now it's time to get back into...

ES Morning Update September 14th 2017

Today we'll look at the 6 hour chart as it shows clearly how overbought the market is up at this level.  We can see...

ES Morning Update April 8th 2016

Futures looking good for a hit of the newer falling trendline. MACD's on this 2 hour chart pointing up and are near zero now.  But...

ES Morning Update November 16th 2016

Yesterday I suggested we would stay in the triangle and then most likely breakdown today or Thursday.  It looked good most of the day...

ES Morning Update April 19th 2016

Target area finally hit as futures run into resistance. MACD's overbought again on this 2 hour chart suggesting we rollover near the open. After over a...

ES Morning Update April 29th 2016

Market hit falling trendline yesterday and rolled over into what appears to be a wave C down. MACD's are oversold here but have plenty of...

ES Morning Update February 9th 2016

  Falling trendline is strong resistance should the market turn back up today. The line in the sand for the bulls to hold is this rising...

ES Morning Update June 14th 2017

It's still looking bullish on the 6 hour MACD's and this 60 minute MACD has hit +2.5, turned down and now pointing back up...

Morning Update November 23rd 2016

Last Wednesday the 16th of November 2016 around noon my mother had a Pontine Hemorrhagic Brain Stroke.  She died on Friday night around 10...

ES Morning Update April 18th 2016

Futures dropped Sunday night before the open to hit the rising trendline of support. MACD's got oversold and turned back up but look weak on...

ES Morning Update September 21st 2017

Yesterday the FOMC meeting produced a small pullback but it basically just tagged the lower rising trendline of the rising wedge the futures are...

ES Morning Update June 2nd 2017

The cup and handle pattern played out yesterday and cleaned the bears out that were short from that sideways trading range of a week...

ES Morning Update October 12th 2017

Some weakness this morning but I still don't think the bulls are ready to give up just yet. I'd like to see some exhaustion...
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