The Pattern Trapper Market Update Blog is a companion piece to the FREE! Daily Pattern Signals Report.
For maximum benefit be sure to check out the On-Line Course.
To see how some of these trade setups will typically turn out Click Here.
 
 
The December S&P E-Mini contract has fired 2 Day ROC Buy, 90-10 High Continuation & Reversal, and Momentum Pinball Sell signals for today’s trading. The 2 Day ROC Buy signal implies that today's principal trade direction should be to the upside. The 90-10 High Continuation & Reversal signal tells us to look for morning follow through on the strong close, but to expect a likely reversal once the initial move has topped. The Momentum Pinball Sell signal suggests that IF the first hour's low happens to be broken, the market is telling us something completely different than originally assessed, and we'd want to consider a short position. Cycle Indicators (chart at right) have moved into a region where short term cyclical lows often form and the larger trend is to higher prices. Odds favor continued upside in today's early trading. Buy the break of yesterday's 1992.50 high, or even earlier if price demonstrates strength above the 1984.25 level of the Daily Pivot. But stand prepared to exit or even reverse if we get appropriate price reversal patterns and/or Oscillator Divergence near important resistance levels. Our Normal High Range Projection level of 2002.50 or the Extended High Range Projection level of 2011.25 would be likely areas for such a reversal to take place. To learn how to trade these setups every day Click Here!
 
Disclaimer: trading involves significant risk and is not suitable for everyone.