Market Overview: Crude Oil Futures The Crude oil futures market is in a 9-week trading range. This week was a breakout above the inside bull bar, but Crude Oil is sitting just under the 9-week trading range high, 20-week exponential moving average and bear trend line. The bulls will need to break far above these […]
Emini 5-Bar Bull Micro Channel
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures weekly chart is in a 5-bar bull micro channel. The bulls see this week as a pullback and want another leg higher testing the December high. Bears want a reversal down from a lower high major trend reversal. S&P500 Emini futures The Weekly S&P 500 Emini […]
Emini Second Leg Up, Retest December High?
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures bulls got an Emini second leg up and want a retest of the December high. They see the last 6 months as an inverted head and shoulders bottom. Odds slightly favor the Emini to trade at least a little higher. The bulls need to break far […]
EURUSD Wedge Top but Tight Bull Channel
Market Overview: EURUSD Forex EURUSD wedge top formed but the rally is in a tight bull channel. The bear bars are weak and had no follow-through selling. Bears need to do more to convince traders that a pullback/reversal is imminent. Odds slightly favor EURUSD to trade at least a little higher. EURUSD Forex market The […]
Crude Oil No Follow-through Selling
Market Overview: Crude Oil Futures There was no follow-through selling in the Crude oil futures market. The weekly candlestick was an inside bar closing near its high. Odds slightly favor a breakout above the inside bar. Traders will see if the bulls can create follow-through buying and a breakout above the 8-week trading range. Crude […]
EURUSD Weak Bear Bar, Need Follow-through
Market Overview: EURUSD Forex The EURUSD Forex was a EURUSD weak bear bar on the weekly chart. The bears want this to be the start of a two-legged sideways-to-down pullback. They will need to create follow-through selling next week. The bulls want any pullback to be sideways and not deep. EURUSD Forex market The Weekly EURUSD chart […]
Crude Oil Third Leg Down?
Market Overview: Crude Oil Futures The Crude oil futures traded lower and traders are wondering if it is forming a third leg down with the first two legs being Sept 26 and Dec 9. The bulls want a reversal higher from a double bottom with the December low. Crude Oil could be forming a trending trading range […]
Emini Pullback or Second Leg Up?
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures traded slightly higher and traders are wondering if this is a pullback or second leg up to retest the December high. The bulls will need to create follow-through buying next week to increase the odds of retesting the December high. The bears want the Emini to […]
Emini Stall at Resistance and No Follow-through
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures stall at resistance and no follow-through above the 20-month EMA on the monthly chart. The bulls failed to get another follow-through bull bar. Bulls hope that this is simply a pullback and wants another leg sideways to up. The bears want a retest of the October […]
EURUSD Bull Follow-through Bar
Market Overview: EURUSD Forex The EURUSD Forex December candlestick was a bull follow-through bar following the breakout above the October inside bull bar. Odds slightly favor the EURUSD to trade at least a little higher towards the 20-month exponential moving average. The move up is strong enough for traders to expect at least a second […]
