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. […]
Weekly EURUSD Lower High
Market Overview: EURUSD Forex The market traded higher and is currently at a weekly EURUSD lower high. The bulls need to create follow-through buying following this week’s close above the 20-week EMA. The bears hope that the bear trend line will act as resistance. If the market trades higher, the bears want a larger double top bear flag with the March […]
Crude Oil stalled
Market Overview: Crude Oil Futures Crude Oil stalled at the bull trend line in the last 2 weeks. The bears want at least another sideways to down leg, completing the third push down (wedge) with the first two legs being April 22 and May 8. The bulls want a reversal from a wedge (Apr 22, May 8, and May 15), […]
Emini New All-Time High
Market Overview: S&P 500 Emini Futures The market traded higher and formed an Emini new all-time high this week. The bulls want a strong a strong breakout above the March 21 high followed by the start of a larger broad bull channel phase. The bears want a reversal from a higher high major trend reversal or a double top with the March 21 high. At the very least, they […]
EURUSD Middle of the Trading Range
Market Overview: EURUSD Forex The market is currently trading around the EURUSD middle of the trading range which can be an area of balance. The bears want the 20-week EMA to act as resistance followed by at least a small retest of the April 16 low. The bulls need to create consecutive bull bars closing […]
The Bears Need a Crude Oil Breakout
Market Overview: Crude Oil Futures The bears need a Crude Oil breakout below the bull trend line to increase the odds of the bear leg beginning. The bulls want a retest of the April 12 high after the current pullback, even if it forms a lower high. They want the 20-week EMA or the bull trend line to […]
Emini Retest of the March High
Market Overview: S&P 500 Emini Futures The weekly chart is forming an Emini retest of the March high. The bulls want a strong retest of the March 21 high followed by a strong breakout above, starting the larger bull channel phase. The bears want at least a small second leg sideways to down after the current pullback, even if it forms […]
Minor Emini Pullback
Market Overview: S&P 500 Emini Futures The weekly chart is forming a minor Emini pullback. The bulls want a strong retest of the March 21 high followed by a strong breakout above, starting the larger bull channel phase. The bears want at least a small second leg sideways to down after a pullback. If the market trades higher, they want a […]
Crude Oil Lower High
Market Overview: Crude Oil Futures The monthly chart formed a Crude Oil lower high in April. The bears want April to reverse back below the 20-month EMA and form a second leg sideways to down to retest the December low from a lower high major trend reversal (Apr 12). The bulls hope that the current sideways-to-down move is simply […]
Sideways EURUSD Trading Range
Market Overview: EURUSD Forex The market is forming a sideways EURUSD trading range on the monthly chart. The middle of the trading range is an area of balance. Traders will BLSH (Buy Low, Sell High) until there is a breakout with sustained follow-through buying/selling from either direction. Poor follow-through and reversals are hallmarks of a trading range. […]
