The Emini had another reversal day, despite the big gap down and early selling. The Emini has been in a trading range for a month, so two-sided trading like this is more likely.
Today’s reversal up created a micro double bottom on the daily chart, but both bottoms were dojis. This increases the chances of more sideways trading tomorrow.
See the weekly update for a discussion of the price action on the weekly candlestick chart and for what to expect going into next week.
