Market Overview: S&P 500 Emini Futures The weekly candlestick was a big outside bear bar possibly indicating an Emini start of a pullback. The bears want a TBTL (Ten Bars, Two Legs) pullback trading far below the 20-week EMA. The bulls want the pullback to form a higher low followed by a resumption of the […]
Weekly Emini Embedded Wedge
Market Overview: S&P 500 Emini Futures The market formed a weekly Emini embedded wedge in the third leg up (May 23, Jun 28, and Jul 12). The bulls hope that the rally will lead to months of sideways to up trading (broad bull channel). The bears want a reversal from a higher high major trend reversal, a wedge pattern […]
Weekly Emini Third Leg Up
Market Overview: S&P 500 Emini Futures The market is forming a weekly Emini third leg up after a one-bar pullback (last week). The bulls want another leg up completing the wedge in the third leg up with the first two legs being May 23 and June 28. The bears want a reversal from a higher […]
Emini ES mid-year market review
Video duration: 10min 56sec. Mid-year market review transcript Hi everyone, I’m Al Brooks. Today is June 29th, 2024. I’m on a working vacation at Lake Tahoe. I’m currently at the top of Heavenly Valley Ski Resort’s mountain. I have Lake Tahoe in the background. The reason why I’m recording this today is because a couple […]
Weekly Emini Micro Wedge
Market Overview: S&P 500 Emini Futures The market formed a weekly Emini micro wedge. The bears need to create a strong entry bar with follow-through selling to convince traders that they are at least temporarily back in control. If the market trades lower, the bulls want the pullback to form a higher low or a […]
Emini Micro Wedge
Market Overview: S&P 500 Emini Futures The weekly chart formed an Emini micro wedge (Jun 7, Jun 12, and Jun 21). The problem with the bear’s case is that they have not been able to create strong bear bars with sustained follow-through selling. The bears need to create a strong entry bar with follow-through selling […]
Emini Sideways to Up
Market Overview: S&P 500 Emini Futures The market formed an Emini sideways to up breaking into new high territory. The bulls want to get another strong leg up completing the wedge pattern with the first two legs being July 27 and March 21. The third leg up is currently underway. If the market trades higher, the bears want a micro wedge to form […]
Weekly Emini Higher High MTR
Market Overview: S&P 500 Emini Futures The market formed a weekly Emini higher high MTR (major trend reversal) pattern. The bulls need to create a follow-through bull bar to confirm the breakout above the all-time high, even if it is only a bull doji. The bears need to create a few strong bear bars to increase the […]
Emini Buyers below the First Pullback
Market Overview: S&P 500 Emini Futures There were Emini buyers below the first pullback on the monthly chart. The bulls hope to get another strong leg up completing the wedge pattern with the first two legs being July 27 and March 21. The bears want a reversal from a higher high major trend reversal and a large wedge pattern (Dec 2, July 27, and March 21). S&P500 […]
No Weekly Emini Follow-through
Market Overview: S&P 500 Emini Futures There was no weekly Emini follow-through buying following last week’s breakout above the March 21 high. The bulls see this week simply as a pullback and want the market to continue higher. The bears want a reversal from a higher high major trend reversal or a double top with the March 21 high. […]