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 […]
No Crude Oil Follow-through selling
Market Overview: Crude Oil Futures The weekly candlestick was an inside bull bar closing near its high; there was no Crude Oil follow-through selling. The bulls need to create follow-through buying next week to increase the odds of another leg up. The bears want a breakout below the inside bull bar. Crude oil futures 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 […]
No EURUSD Follow-through
Market Overview: EURUSD Forex The market traded higher but reversed into a bear bar; there was no EURUSD follow-through buying following last week’s bull reversal bar. That put the minor pullback lasting many weeks beginning in doubt. If the bears get follow-through selling breaking far below the March low, it could lead to a measured […]
Emini Test Breakout Point
Market Overview: S&P 500 Emini Futures The weekly chart formed an Emini test breakout point; a two-legged pullback testing the February 2 high (breakout point) and the bull trend line. The bulls see the current move down simply as a 50% pullback (of the move which started in March) within a broad bull channel. If […]
Crude Oil Strong Pullback
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil strong pullback testing the breakout point (April high; trading range high) and the 20-week EMA. The bulls want the 20-week EMA to act as a support and a reversal up from a higher low. The bears want a reversal down from a large […]
EURUSD Climactic Bear Leg
Market Overview: EURUSD Forex The weekly chart formed a EURUSD climactic bear leg in the form of a tight bear channel. Odds favor the first pullback to be minor and a retest of the current leg extreme low (Oct 3). The bulls need to create sustained follow-through buying to increase the odds of a deeper […]
Emini Pullback within Broad Bull Channel
Market Overview: S&P 500 Emini Futures The monthly chart formed an Emini pullback within a broad bull channel testing the 20-month exponential moving average and the bull trend line. The bulls see the market as still being in a broad bull channel and want a reversal to retest the July 27 high. The bears got […]
Emini Two-legged Pullback
Market Overview: S&P 500 Emini Futures The weekly chart formed an Emini two-legged pullback testing near the February 2 breakout point. The bulls see the move simply as a pullback and want a retest of the July 27 high followed by a strong breakout above. The bears need to create follow-through selling following this week’s […]
Crude Oil Climactic Rally
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil climactic rally. While odds slightly favor the market to still be in the sideways to up phase, the move up since June has lasted a long time and is slightly climactic. A minor pullback can begin at any moment. The bears want a […]