Market Overview: Crude Oil Futures The Crude oil futures formed a crude oil bear leg testing the March low. The bulls hope that the move is simply a sell vacuum and wants a reversal higher from a double bottom and a lower low major trend reversal. The bears want a strong breakout below the March […]
Emini ioi Pattern (inside-outside-inside)
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures formed an an Emini ioi pattern (inside-outside-inside) on the weekly chart which means the market is in a breakout mode. However, the market is also in a 6-week tight trading range and the Emini is currently trading around the middle of it which is […]
Emini Double Bottom at 20-Week EMA
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures formed an Emini double bottom at the 20-week exponential moving average. So far, the pullback in the Emini has gone sideways. The bears are not yet strong. The bulls want a strong breakout above February 2 high followed by a measured move up using […]
EURUSD Bull Micro Channel
Market Overview: EURUSD Forex EURUSD bull micro channel (7 bars) formed on the weekly chart. That means strong bulls. Odds slightly favor buyers below the first pullback below such a strong bull micro channel. The bears hope that the move up is simply a buy vacuum test of the February 2 trading range high. The bears […]
Crude Oil 6-Month Trading Range
Market Overview: Crude Oil Futures The Crude oil futures continue to trade sideways forming a 6-month trading range. The bulls want a retest and breakout above April 12 high. If the market trades lower, the bulls want a reversal up from a higher low major trend reversal. The bears want a follow-through bear bar in […]
Emini Consecutive Bull Bars Close above EMA
Market Overview: S&P 500 Emini Futures S&P 500 Emini futures April candlestick consecutive bull bars close above the 20-month exponential moving average (EMA). Monday is the first trading day of the month. The market may gap up at the open, creating a gap on the Monthly, Weekly and Daily charts. Small gaps usually close early. The […]
EURUSD Inside Doji Bar, Tight Bull Channel
Market Overview: EURUSD Forex EURUSD inside doji bar and tight bull channel formed on weekly chart which means strong bulls. The bulls want a strong breakout above the February 2 high and another strong leg up. If there is a pullback, odds slightly favor buyers below the first pullback from such a strong bull micro channel. […]
Crude Oil Minor Pullback
Market Overview: Crude Oil Futures Crude oil minor pullback formed on the weekly chart, partially closing the gap. The bulls expect at least a small second leg sideways to up after the current pullback. The bears need to create follow-through selling to increase the odds of the start of the bear leg within the trading […]
Emini 6-Bar Bull Micro Channel
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures formed a 6-bar bull micro channel on the weekly chart. That means strong bulls. The bulls want a strong breakout above February 2 high completing the wedge pattern with the first two legs being December 13 and February 2. The bears hope that the […]
EURUSD Tight Bull Channel
Market Overview: EURUSD Forex EURUSD tight bull channel up formed testing the February 2 high. The bulls have a 5-bar bull micro channel which means strong bulls. Odds slightly favor buyers below the first pullback from such a strong micro channel. The bears want a reversal down from a higher high major trend reversal, but […]