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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 25th 2016

Futures banging on overhead resistance from falling trendline. Rising trendline providing early support but forms a triangle that will force a break before noon today...

ES Morning Update February 12th 2016

Falling trendline of resistance will likely be hit this morning. But the MACD's on this 60 minute chart show it's getting into overbought territory. Looking at...

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 April 6th 2016

Head And Shoulders on this 2 hour chart MACD's are mixed between the 6 hour, 4 hours, 2 hour and 60 minute charts. With the FOMC...

ES Morning Update February 23rd 2016

Futures hit horizontal resistance yesterday and barely pierced though.  Now this morning the appear ready to lose the rising trendline of support MACD's rising on...

ES Morning Update January 15th 2021

For the first time in many days the DOW closed under the 31,000 level, and is set to open below it this morning. It's...

ES Morning Update February 4th 2016

Resistance 1920-1930.  Support 1865 triple bottom area. Looking at various charts and time frames this morning I can't see any clear picture for the next...

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 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 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 January 14th 2021

I was unable to do a post yesterday due to my site crashing from too much traffic to a post I did about politics....

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 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...

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 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 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 May 5th 2017

The futures are up this morning hitting some horizontal resistance and an old rising trendline of resistance.  Not much more to add here as...

ES Morning Update January 13th, 2016

C wave target next week? Possible point to hit and then rollover is this falling trendline around 1960. This 4 hour chart shows the MACD's up...

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 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...
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