Market Overview: EURUSD Forex The monthly chart could be forming a EURUSD double bottom bull flag (Jan 6 and Oct 3). The bulls want November to be a bull bar closing near its high. The bears will need to create a breakout below the trading range low with follow-selling to increase the odds of a […]
Emini Climactic Reversal
Market Overview: S&P 500 Emini Futures The weekly chart formed an Emini climactic reversal reversing half of the whole move down within a week. The bulls need to create follow-through buying next week to increase the odds of higher prices. The bears hope that this week was simply a 50% pullback and wants a larger […]
Crude Oil Two-Legged Pullback
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil two-legged pullback, closing below the 20-week EMA. The bears need to create follow-through selling below the 20-week EMA to increase the odds of a reversal lower. The bulls want a reversal up from a double bottom bull flag (Oct 6 and Nov 3). […]
Emini Wedge
Market Overview: S&P 500 Emini Futures The weekly chart formed the third leg down, an Emini Wedge. The market also broke below the trend channel line. The bulls want a reversal up from a wedge bull flag. However, they will need a strong reversal bar or a micro double bottom before they would be willing […]
Crude Oil Second Leg Down
Market Overview: Crude Oil Futures The weekly chart formed a larger Crude Oil second leg down. The bears need to create follow-through selling to increase the odds of a deeper pullback. The bulls want a reversal from a double bottom bull flag and for the 20-week EMA to act as support. Crude Oil futures The […]
EURUSD Double Top Bear Flag?
Market Overview: EURUSD Forex The market is forming a EURUSD double top bear flag (Oct 12 and Oct 24) on the weekly chart. The bears need to create follow-through selling to increase the odds of a retest and breakout attempt below the October 3 low. If the market trades lower, the bulls want a final […]
EURUSD Final Flag?
Market Overview: EURUSD Forex The weekly chart traded sideways in the last 3- to 4-weeks, potentially forming a EURUSD final flag. The bulls need to create consecutive bull bars trading far above the bear trend line to increase the odds of a larger pullback. The bears want the pullback to remain sideways and weak which […]
Crude Oil Retest Extreme High
Market Overview: Crude Oil Futures The weekly chart is forming a Crude Oil retest extreme high (Sept 28). The bulls want a strong retest and breakout above the September 28 high, completing the larger wedge pattern with the first two legs being August 10 and September 28. If the market trades higher, the bears want […]
Emini Another Leg Down
Market Overview: S&P 500 Emini Futures The market is forming Emini another leg down after reversing into a big outside bear bar. The bulls want a reversal up from a wedge bull flag. The bears want a strong breakout far below the October 3 low. S&P500 Emini futures The Weekly S&P 500 Emini chart The […]
Weak Emini Follow-through Bull Bar
Market Overview: S&P 500 Emini Futures The market traded higher but closed with a long tail above forming a weak Emini follow-through bull bar. The bulls want the Emini to reverse back above the 20-week exponential moving average. The bears want another leg down to complete the wedge pattern with the first 2 legs being […]
