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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 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 December 14th 2021

Looks like we started the medium C wave down yesterday and it's continuing this morning, but short term charts should be oversold by the...

ES Morning Update January 20th 2022

I drew this updated wave count last night after the close and I think it's still in play and possible going into this Friday....

ES Morning Update November 5th 2021

The market didn't disappoint yesterday as the bulls got it up into the "10-20 points over or under" a large even number level (4700)...

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 November 1st 2021

NOTE: I didn't have time for the weekend post... maybe next week? We are so close to a big drop I can just taste it...

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 August 3rd 2021

Stuck in a range with no clear direction seen... that's the market this morning. Something will give soon I'm sure, and might be timed...

ES Morning Update January 6th 2022

Well, it's quite obvious now that the high was put in on Tuesdays brief morning rally to 4818.62 on the SPX, as we clearly...

ES Morning Update January 12th 2022

Yesterday I drew this chart shortly after the open as the market didn't continue the up move and sold off instead. My thinking was...

ES Morning Update November 15th 2021

This week is of course the monthly option expiration week, or more commonly referred to as OPEX. Normally it's a bullish week but I'm...

ES Morning Update December 21st 2021

The market went a little lower then the early downside level yesterday before the open but not by much. The low was 4520, so...

ES Morning Update November 4th 2021

Yesterdays FOMC didn't disappoint as although I wanted to see a sharp drop it instead did the same ol' pattern that most meeting do......

ES Morning Update December 28th 2021

Well, the bulls chose the wrong path in my opinion. Charts were very overbought before yesterdays rally and some sideways consolation all week would...

ES Morning Update July 29th 2021

The FED meeting was a non-event it seems as the market didn't do anything afterwards but chop around. However, the last several days of...

ES Morning Update November 17th 2021

This new video by Peter Eliades is very much worth watching. He's looking for one more slightly higher high and then the end of...

ES Morning Update January 18th 2022

The futures this morning are back down near the low last Friday and past it some. Just more tests of the support zone from...

ES Morning Update December 31st 2021

A whole lot of nothing yesterday until the close when bulls finally gave up into the close and allowed a small move down. That...

ES Morning Update December 22nd 2021

The ES pushed on up through the 4670 area of resistance and is making a run for 4700+ this morning. I really didn't think...
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