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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 January 30th 2023

This week the market should top out and finish Small Wave 2 up inside Medium Wave C down, which once this ends the next...

ES Morning Update January 27th 2023

Bulls continued to grind higher yesterday as they are attempting to take out the December double top zone from 4080-4100. I do think they...

ES Morning Update January 26th 2023

Yesterday the market pullback more then I thought it would but in the end it was just a bear trap as the 80 points...

ES Morning Update January 25th 2023

The market is finally taking a breather and allowing a pullback to happen. This could last a few days as the RSI might need...

ES Morning Update January 24th 2023

The bulls stepped up yesterday and finally busted through the 4000-4020 resistance zone. The MACD's are still pointing up but the RSI is nearly...

ES Morning Update January 23rd 2023

This week and next all the big tech earnings will be coming out, so if there's ever a good opportunity for the bulls to...

ES Morning Update January 20th 2023

Still no sign yet of the MACD's and RSI turning back up. The RSI could dance around this low area into next Monday and...

ES Morning Update January 19th 2023

The bulls failed yesterday on holding above the falling red trendline and the market dropped back down to support around the rising red trendline....

ES Morning Update January 18th 2023

The market continues to chop sideways to make a bull flag. The longer it does that the stronger the move up will be. Again,...

ES Morning Update January 17th 2023

I hope everyone had a good rest for the 3 day holiday weekend. I expect this week to have light volume with a float...

ES Morning Update January 13th 2023

What a wild day yesterday in the morning session, and then calm the rest of the day. A shake out for bulls and bears...

ES Morning Update January 12th 2023

The rally up continued yesterday and will go into the CPI overbought. Since the last CPI produced a "pop and drop" I have to...

ES Morning Update January 11th 2023

Down and up day yesterday, which is continuing this morning. We did get a pullback yesterday to 3891 in the morning, which was a...

ES Morning Update January 10th 2023

Nice rally up yesterday. It ran into resistance and pulled back into the close. The RSI was up close to overbought too on the...

ES Morning Update January 9th 2023

We got the breakout on Friday that I was looking for, and there wasn't any False Flag event on Sunday, so I think we...

ES Morning Update January 6th 2023

This mornings update is going to be simple. We've been inside this triangle now for going on 2 weeks. A huge break in one...

ES Morning Update January 5th 2023

As expected nothing was added to the minutes by the Fed yesterday to cause a spark. So the market remains range-bound building a bear...

ES Morning Update January 4th 2023

Today is day 2 of the reading of the Fed minutes from the prior FOMC meeting, which usually doesn't amount to nothing... a really...

ES Morning Update January 3rd 2023

This week might start off a little slow but by the end of it I do expect the market to get out of this...

ES Morning Update December 30th 2022

Getting closer to a breakout (or breakdown) I think. Yesterday reversed what Wednesday did, so will today reverse what Thursday did? I don't know...
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