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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 July 27th 2021

A lot of nothing yesterday as the market did an early dip and back up some into the close. This morning the pattern seems...

ES Morning Update July 26th 2021

This week we have an FOMC meeting on Wednesday, so I don't expect much action in front of it. All the short term charts...

ES Morning Update July 23rd 2021

The market continues to grind higher pushing through each resistance area one by one. Today is the best time for the bulls to make...

ES Morning Update July 22nd 2021

Bulls pushed through the falling red trendline of resistance yesterday and appear to be running for a new all time high now. But the...

ES Morning Update July 21st 2021

We got the rally I was looking for yesterday and I exited all my longs on that last push up, which looked like a...

ES Morning Update July 20th 2021

We dropped yesterday lower then I was expecting and I went long too early. But finally did appear to bottom and start back up...

ES Morning Update July 19th 2021

Last Friday I was thinking we might rally up hard and possibly hit a new all time high, but that rally (from Thursdays low)...

ES Morning Update July 16th 2021

Yesterday the market did stair-step down but when it found support at the lows and the short term charts were getting oversold. So I...

ES Morning Update July 15th 2021

Yesterday had a nice series of wave 1's down and wave 2's up, which sets up a nasty wave 3 down at some point...

ES Morning Update July 14th 2021

So far everything is looking good for a top yesterday. It hit tough resistance and fell back over 20 points in the close... a...

ES Morning Update July 13th 2021

We hit the 4370-4390 range where major resistance is at, and so far that seems to be the top. Now we just watch and...

ES Morning Update July 12th 2021

Last Friday I thought we might go sideways and do the squeeze today but instead they rallied up around 50 point that day and...

ES Morning Update July 9th 2021

Yesterdays sell off didn't stick as a the bulls bought it back up and are now back to the same resistance area around 4335...

ES Morning Update July 8th 2021

Looks like the market is playing a tricky one on us (again). I guess too many people see the 4370-4390 area as major resistance...

ES Morning Update July 7th 2021

Well, yesterday gave us a decent little pullback. I had been previously talking about a wave 4 down of some degree but I gave...

ES Morning Update July 6th 2021

I hope had a good holiday weekend. I didn't even need to buy fireworks as my neighbors put on a show for me to...

ES Morning Update July 2nd 2021

It's the last day before a long holiday weekend and of course the market is continuing to grind higher. Yesterday was a nice day...

ES Morning Update July 1st 2021

Time sure does go by fast. We just finished the first half of 2021 and start the second half today. It will be Christmas...

ES Morning Update June 30th 2021

The futures are flat this morning and clearly the market is tired up here. The SPX pierced through the big round number of 4300...

ES Morning Update June 29th 2021

Yesterday we pulled back to 4264 on the ES and that was all we saw as after that the market floated back up. I...
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