Market Overview: Crude Oil Futures The overlapping candlesticks in Crude Oil, poor follow-through and frequent reversals are hallmarks of trading range price action. The bears hope to get a second leg sideways to down to retest the September low followed by a breakout below the triangle. The bulls want a reversal from a double bottom […]
Monthly Emini Reversal Bar
Market Overview: S&P 500 Emini Futures The market formed a monthly Emini reversal bar in October. The bears want a reversal from a wedge (Mar 21, Jul 16 and Oct 17) and an embedded wedge (Mar 21, Jul 16 and Oct 17). To increase the odds of a deeper pullback, they must create a strong […]
Weekly Emini Pullback
Market Overview: S&P 500 Emini Futures The market formed a weekly Emini pullback, closing as a bear bar with a prominent tail below. The bears need to create a follow-through bear bar next week to increase the odds of a deeper pullback. The bulls see another possible embedded wedge forming (the first two legs are […]
No Weekly Crude Oil Follow-through Selling
Market Overview: Crude Oil Futures There was no weekly Crude Oil follow-through selling, closing as an inside bull bar near its high. The bulls want a reversal from a double bottom bull flag (Oct 1 and Oct 18). They must create consecutive bull bars closing near their highs to increase the odds of a retest […]
Weekly EURUSD Bear Leg
Market Overview: EURUSD Forex The market formed a weekly EURUSD bear leg in the form of a 6-bar bear microchannel. The bears hope that the bear leg to retest the trading range low is underway. The bulls want the market to form a higher low, followed by a retest of the September 25 high. They […]
EURUSD Test Middle of the Trading Range
Market Overview: EURUSD Forex The market formed a EURUSD test middle of the trading range this week. The bulls want the August 1 low or the bull trend line to act as support. The bears hope the bear leg has started. If there is a pullback, the bears want at least a small second leg […]
Weekly Crude Oil Big Bear Bar
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil big bear bar closing below the 20-week EMA. The bears must create a follow-through bear bar (following this week’s close below the 20-week EMA) to increase the odds of retesting the September 10 low. The bulls see this week as a deep pullback […]
Weekly Emini Sideways to Up
Market Overview: S&P 500 Emini Futures The market is forming a weekly Emini sideways to up, closing in new high territory. The bears want a reversal from a higher high major trend reversal. The problem with the bear’s case is that they haven’t been able to create strong bear bars with follow-through selling. Until they […]
Weekly EURUSD Bears need Follow-through
Market Overview: EURUSD Forex The weekly Eurusd bears need follow-through selling next week to increase the odds of a bear leg. The bulls see the last two weeks as a pullback and retest of the breakout point. They want the market to form a higher low, followed by a retest of the September 25 high […]
Weekly Crude Oil Follow-through
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil follow-through bull bar closing above the 20-week EMA. The bulls must create consecutive bull bars closing near their highs to increase the odds of a breakout above the triangle top. The bears see the recent move as a two-legged pullback (Sep 24 and […]
