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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 April 26th 2021

We got the squeeze I was looking for on Friday as I flipped back to bullish due to the bears failure to break support....

ES Morning Update June 29th 2016

Market continuing to grind higher from very oversold short term levels.  However, we are getting overbought now on the 60 minute futures chart.  But...

ES Morning Update March 18th 2022

Today is triple witching so anything can happen as they move the market to where max pain happens for various types of assets that...

ES Morning Update July 29th 2020

Yesterday into the close the bears finally closed the SPX below the light purple rising trendline, that has be supporting the bulls since the...

ES Morning Update July 23rd 2020

Another huge failure by the bears to drop the market yesterday, and this morning is starting out the same. I can only assume at...

ES Morning Update July 12th 2018

  Ok gang, this move up this morning looks to me like the smaller 5th wave inside the larger 3rd wave. Meaning that yesterdays' premarket...

ES Morning Update October 17th 2019

Well, the short I took on Tuesday was looking good early yesterday but then the market fell asleep and went mostly sideways the rest...

ES Morning Update October 6th 2022

The pullback yesterday held as it reversed back up into the close and even extended up higher in the afterhours then Tuesdays close, which...

ES Morning Update December 23rd 2022

Another nasty drop yesterday but it did recover into the close about half of it. The market never makes it easy to figure out...

ES Morning Update November 5th 2018

Overall for this week I'm looking for a move up to 2800-2850 SPX at some point. I don't know the "when" part of course...

ES Morning Update May 20th 2022

Well, the "higher low" held yesterday, which was just one point above the 3855 low. Too me everything is aligned now for a massive...

ES Morning Update May 26th 2016

Might have topped yesterday for the wave 3 up and now in some ABC pattern for the wave 4 down.  Support still at the...

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...

ES Morning Update December 17th 2021

So far so good as the wave count I forecasted yesterday is playing out. We didn't see any new all time highs in the...

ES Morning Update August 22nd 2017

Yesterdays' dip down to make another lower low now appears to me like it completed the tiny 5th wave, meaning todays' move up is...

ES Morning Update December 15th 2020

Yesterday likely marked the top I think and now we start this series of wave 1's down and wave 2's up in various degrees....

ES Morning Update July 19th 2016

Futures chopping sideways making lower highs with resistance overhead from the falling (green) trendline and support at the horizontal (yellow) trendline around 2143.25 MACD's going...

ES Morning Update July 10th 2019

I was a little surprised yesterday when the market broke upward through that falling trendline of resistance as I kinda thought that would happen...

ES Morning Update October 6th 2021

The rally up yesterday got sold back off again this morning it seems. I'm having my doubts on the bounce back up to the...

ES Morning Update August 24th 2017

As always SkyNet keeps me guessing.  Yesterdays' failure to produce a smaller 5th wave up, and instead dropped into a down move that appears...
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