Market Overview: EURUSD Forex The weekly chart is in a tight bear channel which means EURUSD strong bears. Because of the strong move down, odds slightly favor a second leg sideways to down after a pullback. The bulls want a reversal up from a wedge bull flag. They will need to create strong bull bars […]
EURUSD Consecutive Closes below 20-Week EMA
Market Overview: EURUSD Forex The weekly chart was a EURUSD consecutive closes below the 20-week EMA, testing the bull trend line. While the odds continue to favor the market to trade at least a little lower, a minor pullback can begin within a few weeks. Odds favor a second leg sideways to down after a […]
Crude Oil Weak Follow-through
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil weak follow-through bear bar. The bulls want a retest and breakout above the August 10 high. The bears want the start of the bear leg to retest the 40-week trading range low. The market is in a 40-week trading range. Traders will BLSH […]
Emini Breakout Mode, Minor PB or Another Leg Down?
Market Overview: S&P 500 Emini Futures The weekly candlestick formed was an inside bull doji, forming an Emini breakout mode. The bulls want a breakout above, while the bears want a breakout below the inside bar. For now, odds slightly favor the current sideways to down pullback to be minor and at least a small […]
Emini Test of the 20-Week EMA
Market Overview: S&P 500 Emini Futures The bears created an Emini test of the 20-week EMA on the weekly chart. They need to create follow-through selling trading far below the 20-week EMA to increase the odds of a reversal down. The bulls see the move down as a minor pullback and want at least a […]
Crude Oil First Pullback below 7-bar Bull MC
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil first pullback below the 7-bar bull microchannel. The bears need to create follow-through selling to increase the odds of the bear leg beginning. The bulls want a retest of the August 10 high followed by a breakout and a measured move up. Crude […]
EURUSD Close below the 20-Week EMA
Market Overview: EURUSD Forex The EURUSD close below the 20-week EMA on the weekly chart. The bears need to create follow-through selling next week to increase the odds of lower prices. The bulls hope that the 20-week exponential moving average will act as support and want at least a small second leg sideways to up to retest […]
EURUSD Wedge Top, PB
Market Overview: EURUSD Forex The bears want a reversal down from a EURUSD Wedge Top and a failed breakout above the April high. They need to continue creating consecutive bear bars, breaking far below the 20-week exponential moving average to increase the odds of a reversal down. The bulls want the 20-week exponential moving average […]
Crude Oil 7-Bar Bull Microchannel, Bull Leg
Market Overview: Crude Oil Futures The market formed a Crude Oil 7-bar bull microchannel on the weekly chart. That means strong bulls and increases the odds that the first pullback will be minor. The bears want the market to stall around the 38-week trading range high and for the bear leg to begin. Crude oil […]
Emini Follow-through Selling
Market Overview: S&P 500 Emini Futures The bears got S&P 500 Emini follow-through selling on the weekly chart. The minor pullback phase has likely begun. A reasonable target for the bears is the 20-week exponential moving average. The bulls want the pullback to be weak and sideways, followed by a retest of the recent extreme […]
