Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures move up from the October low is in a tight bull channel up on weekly chart. It also has 3 pushes therefore a wedge bear flag. Since the October low, the bull bars are big closing near their highs, while the bear bars had […]
Crude Oil Broke below Bear Trend Line
Market Overview: Crude Oil Futures The Crude Oil futures broke below bear trend line this week on the weekly chart. The bears need to create consecutive bear bars closing far below the bear trend line and September low to increase the odds of lower prices. The bulls hope that the current move down is a […]
EURUSD Pullback but Reversed into Bull Bar
Market Overview: EURUSD Forex EURUSD Forex pullback slightly on the weekly chart but reversed into bull bar. The bears failed to get follow-through selling. The move-up is in a tight bull channel. That means strong bulls. Odds continue to favor the EURUSD to trade at least a little higher. Because of the strong move up, the […]
EURUSD No Bull Follow-through Bar
Market Overview: EURUSD Forex EURUSD no bull follow-through bar on the weekly chart. Bulls hope that this is simply a pullback and want at least a small second leg sideways to up after a pullback. Bears want a reversal lower from a failed breakout above a wedge bear flag. They will need to create strong […]
Crude Oil Double Top Bear Flag, Higher Low MTR
Market Overview: Crude Oil Futures The Crude oil futures reversed lower from a crude oil double top bear flag. The bears need to break far below the major bull trend line to increase the odds of lower prices. Bulls want a reversal higher from a higher low MTR (major trend reversal). The major bull trend […]
Emini Wedge Bear Flag, No Follow-through Buying
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures formed an Emini wedge bear flag on the weekly chart. The bulls did not get follow-through buying. The bulls expect at least a small second leg sideways to up after a pullback. The bears need to create strong consecutive bear bars closing near their lows, similar […]
EURUSD Failed Breakout below 7-Year Trading Range Low
Market Overview: EURUSD Forex The EURUSD Forex bulls want a EURUSD failed breakout below the 7-year trading range low. This week spiked up and closed slightly above the 7-year trading range low. They will need to create a follow-through bar to increase the odds of higher prices. The bears see this week as a breakout test of […]
Crude Oil Double Top Bear Flag, Outside Bar
Market Overview: Crude Oil Futures The Crude oil futures weekly candlestick formed a crude oil double top bear flag with October 10 high, closing as an outside bear bar. However, the long tail below makes it a weaker bear bar. Bears need a follow-through bear bar to increase the odds of a retest of the September low. […]
Emini Weekly Second Leg up from Higher Low MTR
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures bulls got a weekly second leg up from higher low MTR (Nov 3). This week was a big bull bar closing near the high, breaking far above October high. Bulls need to create a follow-through bull bar to increase the odds of a retest of the […]
Emini Wedge Bull Flag on Monthly Chart
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures formed an Emini wedge bull flag on the Monthly chart. On the weekly chart, it is in a pullback phase after a strong rally from October low. Odds slightly favor a retest of the October high. The bears on the other hand want a retest of […]
