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 […]
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 […]
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 […]
Emini Weak Second Breakout Attempt below June Low
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures bears got a weak second breakout attempt below the June low, however, the weekly candlestick had a long tail below. The first 2 legs of the wedge had at least 3 candlesticks. Unless there is a surprisingly big reversal up, the bears expect this leg to […]
Emini Breakout Pullback, Tight Bear Channel
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures traded higher but gave back most of the gains by Friday. Bears see this simply as an Emini breakout pullback and want another breakout attempt below the June low. Because of the strong selloff, the bulls will need a strong reversal bar or at least a […]
Emini Third Leg Down – Sept Close at Low
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures September candlestick closed below June low. The odds of an Emini third leg down of a larger wedge pattern have increased. Bulls want a reversal higher but need at least a strong reversal bar or a micro double bottom before they would be willing to buy […]
Emini Breakout below OO Pattern
The S&P 500 Emini futures broke out below the OO (outside-outside) pattern and tested close to the June low. The June low is close enough to be a magnet. Bulls want a reversal higher from a double bottom major trend reversal. However, because of the strong sell-off, the bulls will need a strong reversal bar or at least a micro double bottom before they would be willing to buy aggressively.
Emini Big Bear Outside Bar – OO Breakout Mode
The S&P 500 Emini futures traded above last week’s high but reversed to close below last week’s low, closing as a big outside bear bar. There is now an OO (outside-outside pattern). The Emini is in breakout mode. The bar sometimes after an outside bar is an inside bar, forming an ioi (inside, outside, inside) pattern, which is also a breakout mode. Traders will be monitoring whether the bears get a consecutive bear bar or fail to do so. If the bears get it, the odds of a test of the June low increase.
Emini Outside Bull Bar Closing near High
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures traded below last week’s low but reversed into an Emini outside bull bar closing near the high. Bulls want a reversal higher from a higher low major trend reversal. The bears want at least a small second leg sideways to down following the recent strong sell-off. […]
