Market Overview: S&P 500 E-mini Futures The market is forming a S&P 500 E-mini 4-bar bull microchannel on the weekly chart. The bulls want any pullback to be weak and sideways (overlapping and long tails below candlesticks, weak bear bars). The bears want a reversal from a wedge pattern (May 19, Jul 31, and Sep […]
Weak Weekly EURUSD Breakout
Market Overview: EURUSD Forex The market formed a weak weekly EURUSD breakout above the July 1 high. The bulls need to create strong follow-through buying trading above the July 1 high to increase the odds of a resumption of the trend. The bears want a reversal from a higher high major trend reversal and a […]
Large Crude Oil Wedge Bear Flag
Market Overview: Crude Oil Futures The market formed a large Crude oil wedge bear flag on the weekly chart. The bears must create strong follow-through selling, trading far below the 20-week EMA and the August 13 low to increase the odds of testing the trading range low. The bulls want a reversal from a large […]
Strong E-mini Buying Pressure
Market Overview: S&P 500 E-mini Futures The market is showing strong E-mini buying pressure on the weekly chart. The next targets for the bulls are the 6800 and 6900 levels. The bears must create consecutive bear bars closing near their lows to show they are back in control. S&P500 E-mini futures The Weekly S&P 500 […]
E-mini Third Leg Up
Market Overview: S&P 500 E-mini Futures The market is forming an S&P 500 E-mini third leg up. The bulls want a Leg 1 = Leg 2 move, which will take the market to the 6800 area (Leg 1 being the Apr 21 low to the May 19 high). The bears must create consecutive bear bars […]
Weekly Crude Oil Bears Need Follow-through Selling
Market Overview: Crude Oil Futures The weekly Crude oil bears need follow-through selling below the August 13 low. They see this week as a pullback and want the 20-week EMA and the bear trend line to act as resistance. The bulls hope the 20-week EMA or the August 13 low area will act as support. […]
EURUSD Bulls Need Strong Follow-through Buying
Market Overview: EURUSD Forex The EURUSD bulls need strong follow-through buying trading above the July 24 and July 1 highs to increase the odds of a resumption of the trend. The bears want a reversal from a lower high major trend reversal or a double top bear flag (Jul 24 and Sept 9). EURUSD Forex […]
E-mini Bears Still Could Not Create Follow-through Selling
Market Overview: S&P 500 E-mini Futures The S&P 500 E-mini bears still could not create follow-through selling on the weekly chart. They must create consecutive bear bars closing near their lows to show they are back in control. The bulls want another strong leg up from a wedge bull flag (Aug 1, Aug 20, and […]
Weekly EURUSD Bulls Need Strong Follow-through Buying
Market Overview: EURUSD Forex The weekly EURUSD bulls need strong follow-through buying breaking above the recent tight trading range to increase the odds of another leg up. The bears want a reversal from a lower high major trend reversal or a double top bear flag (Jul 24 and Sept 5). EURUSD Forex market The Weekly […]
Weekly Crude Oil Large Double Top Bear Flag
Market Overview: Crude Oil Futures The market is forming a weekly Crude oil large double top bear flag (Jul 30 and Sep 2). The bears must create strong follow-through selling far below the 20-week EMA and the August 13 low to increase the odds of testing the trading range low. The bulls hope the 20-week […]
