Every freely-traded market makes a series of turning points during the day session of the regional stock market.  You don’t need to master complex cycle theories or pay to join some elite trading group in order to utilize daily turning points. I can teach you how to spot them with conventional technical analysis

Scoreboard

ES:  7 wins / 1 loss

Special Announcement

I’m working on my new video blog using Camtasia to create a daily “Market Movie” showing how the ES moved throughout the day and where the trade opportunities opened up.  I hope to launch this new VIDLOG just after the first of the year.  If this works well, it could be a prelude to a live, hosted trading room.

Chart Chat

Today’s pattern was a 2-point HI-LO with the first HI in the premarket  My one loss was due to a missed EW count.  I thought the bearish impulse pattern had completed, but it was merely Wave 3.  I still finished in the money.   Have a great evening.  Be back tomorrow.

Please click on the chart below to make it larger.

Today’s 3-minute ES chart