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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 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 December 3rd 2021

NOTE:  I've labeled the waves wrong.  They should all be Medium Waves, not Large Waves.  Sorry about that...  Yesterday did indeed bounce strongly as expected,...

ES Morning Update June 4th 2021

Yesterdays drop held support in the 4170 area and recovered as I suspected it would. Upside targets have risen now to around 4320 or...

ES Morning Update June 2nd 2021

Nice double top put in yesterday on the SPY and SPX, with the DOW and NDX still short of getting close. Today is looking...

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 December 20th 2021

As I write this update it's Sunday and the futures aren't yet open so things could change a little but the overall picture here...

ES Morning Update August 2nd 2021

Looks like we reached the FP this morning that I mentioned on Fridays update. It's on the QQQ and DIA as well. Basically it's...

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...

ES Morning Update November 10th 2021

The market finally appears to have topped (for now) and is likely starting the pullback (or correction) phase. It should be slow in the...

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 October 28th 2021

The market finally started to pullback some yesterday near the close. It should be the start of the wave 4 down, which is a...

ES Morning Update November 30th 2021

Looks like we are still carving out the B wave bounce inside the Large Wave 2 (LW2) down from the all time high. The...

ES Morning Update November 2nd 2021

The market is clearly waiting on the Fed to speak tomorrow at the FOMC meeting. Nothing has changed as everything is still very overbought...

ES Morning Update December 16th 2021

WOW! What a squeeze yesterday after the FOMC. The FP on the QQQ never quite got hit but it got close for sure. I...

ES Morning Update December 15th 2021

The market found support yesterday around the 4600 area and did a strong bounce into the close. It fell through the falling light blue...

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 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 November 12th 2021

Today is Friday, and the typical pattern is to rally into the close. That might not play out this time around as the technicals...

ES Morning Update December 10th 2021

Yesterday looked like the completion of a wave 4 pullback inside this medium B wave rally from the triple bottom lows last week. It's...

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...
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