Market Overview: S&P 500 Emini Futures The weekly chart is forming a minor Emini pullback. The bulls want a strong retest of the March 21 high followed by a strong breakout above, starting the larger bull channel phase. The bears want at least a small second leg sideways to down after a pullback. If the market trades higher, they want a […]
Crude Oil Lower High
Market Overview: Crude Oil Futures The monthly chart formed a Crude Oil lower high in April. The bears want April to reverse back below the 20-month EMA and form a second leg sideways to down to retest the December low from a lower high major trend reversal (Apr 12). The bulls hope that the current sideways-to-down move is simply […]
Sideways EURUSD Trading Range
Market Overview: EURUSD Forex The market is forming a sideways EURUSD trading range on the monthly chart. The middle of the trading range is an area of balance. Traders will BLSH (Buy Low, Sell High) until there is a breakout with sustained follow-through buying/selling from either direction. Poor follow-through and reversals are hallmarks of a trading range. […]
EURUSD Breakout Test or Stalling?
Market Overview: EURUSD Forex The weekly chart formed consecutive doji(s) and traders are wondering if the market is forming a EURUSD breakout test or stalling around the lower third of the trading range. The bulls need to create consecutive bull bars closing near their highs and trading above the 20-week EMA to indicate they are back in control. The bears want to […]
Crude Oil Bull Channel
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil bull channel and a bull leg within a trading range. The bears see this week simply as a pullback and want at least a small second leg sideways to down. The bulls want a retest of the September 28 high after the current pullback. If […]
Emini Inside Bar
Market Overview: S&P 500 Emini Futures The market formed a Weekly Emini inside bar closing near its high, forming a pullback from around the 20-week EMA. The bulls want a breakout above the inside bull bar with strong follow-through buying next week and a strong retest of the March 21 high. The bears want at least a […]
Emini Profit Taking
Market Overview: S&P 500 Emini Futures The market has entered an Emini profit-taking and pullback phase. The bears want at least a second leg sideways to down after a pullback. The bulls hope to get at least a small retest of the prior trend extreme high (Mar 21), even if it only leads to a […]
Crude Oil Pullback
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil pullback closing as a bear bar with a prominent tail below. The bears will need to create consecutive bear bars closing near their lows to convince traders that they are back in control. If the market trades lower, the bulls want the 20-week […]
Disappointing EURUSD Follow-through selling
Market Overview: EURUSD Forex The bears got a disappointing EURUSD follow-through selling on the weekly chart. They hope that this week was simply a pullback and hope to get at least a small second leg sideways to down. The bulls want a reversal from a higher low major trend reversal, a larger wedge bull flag […]
EURUSD Breakout Below
Market Overview: EURUSD Forex The weekly chart formed a EURUSD breakout below the triangle pattern and the small trading range. The bears need to create follow-through selling next week to increase the odds of a retest of the larger trading range low (October low). The bulls want a reversal from a higher low major trend […]
