Market Overview: S&P 500 Emini Futures The market formed an Emini pullback to the 20-week EMA on the weekly chart. The bulls see this week simply as a pullback and want the market to resume higher from a double bottom bull flag (Nov 4 and Dec 20). The bears hope to get a TBTL (Ten […]
Emini Bears Need Strong Follow-through Selling
Market Overview: S&P 500 Emini Futures The Emini bears need strong follow-through selling to convince traders that they are back in control. They hope to get a TBTL (Ten Bars, Two Legs) pullback lasting at least a few weeks. The bulls see this week simply as a pullback and want the market to resume higher. […]
Weekly EURUSD Retest of the Recent Low
Market Overview: EURUSD Forex The market is forming a weekly EURUSD retest of the recent low (Nov 22). The bears want another leg down to complete the wedge pattern (the first two legs being Oct 23 and Nov 22). The bulls hope this week was simply a pullback and want at least another sideways to […]
Weekly Crude Oil Wedge Bull Flag
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil wedge bull flag. The bulls want a breakout and a measured move based on the height of the tight trading range. The bears want the bear trend line or the 20-week EMA to act as resistance. If the market trades higher, they want […]
Weekly EURUSD Breakout Pullback
Market Overview: EURUSD Forex The market formed a weekly EURUSD breakout pullback in the last 2 weeks. The bears want a retest of the trading range low followed by a strong breakout and measured move based on the height of the trading range. The bulls want a failed breakout and the trading range low to […]
Weekly Crude Oil Wedge Bear Flag
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil wedge bear flag (Oct 24, Nov 7, and Nov 22). The bears must create sustained follow-through selling to increase the odds of a breakout below the triangle. The bulls see the current move as a three-legged pullback – a wedge bull flag (Oct […]
Emini Continue Trading Sideways to Up
Market Overview: S&P 500 Emini Futures The Emini continue trading sideways to up with no credible selling pressure. The bulls see the market as being in a broad bull channel and want the market to continue sideways to up for many months. If there is a pullback, they want the 20-week EMA or the bull […]
EURUSD Breakout Below the Trading Range Low
Market Overview: EURUSD Forex The EURUSD breakout below the trading range low in November but closed with a long tail and above the October 3 high. The bears want a strong breakout below the trading range (October low) followed by a measured move using the height of the trading range. The bulls want a failed […]
Monthly Crude Oil Tight Trading Range
Market Overview: Crude Oil Futures The market formed a monthly Crude Oil tight trading range (sideways overlapping candlesticks, poor follow-through and frequent reversals). The bulls want a reversal from a double bottom bull flag (Jun 4 and Sep 10) and a larger double bottom bull flag (Dec 13 and Sep 10). The bears hope to […]
Big Monthly Emini Candlestick
Market Overview: S&P 500 Emini Futures The market formed a big monthly Emini candlestick closing near its high in November. The bulls want the market to continue in a broad bull channel for months. The bears see October as a possible 1 bar final flag of the move and the big bull bar in November […]
