Market Overview: EURUSD Forex The last 7 candlesticks (monthly chart) have a lot of overlapping ranges but are sloping slightly up – the market is in a EURUSD broad bull channel following a bull spike from November. The bulls want a strong breakout above the April high followed by a few months of sideways to […]
Crude Oil Bull Microchannel
Market Overview: Crude Oil Futures The market formed a 6-bar Crude Oil Bull Microchannel on the weekly chart. It is a strong bull leg which increases the odds of buyers below the first pullback. The bulls want a breakout above the trading range high (April high). The bears want the market to stall around the […]
Emini Possible Minor Pullback
Market Overview: S&P 500 Emini Futures Is this the start of an Emini minor pullback? The bears will need to create consecutive strong bear bars closing near their lows to convince traders that a deeper pullback could be underway. The bulls want any pullback to be shallow and weak (with overlapping bars, doji(s) and bull […]
Emini Tight Bull Channel
Market Overview: S&P 500 Emini Futures The market formed an Emini tight bull channel with the bears not being able to create credible selling pressure. If there is a pullback, the bulls want the pullback to be sideways and weak. The bears hope to get at least a deeper pullback from an extended and climactic […]
Crude Oil Strong Bull Leg
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil strong bull leg in the form of a 5-bar bull microchannel. The bulls want a retest and breakout above the trading range high (April high). The bears want the market to stall around the trading range high area and reverse lower. Crude oil […]
EURUSD Failed Breakout or Pullback?
Market Overview: EURUSD Forex Is the weekly chart forming a EURUSD failed breakout or a pullback? The bulls hope the last two weeks were simply a pullback and want at least a small retest of the prior leg extreme (Jul 18). The bears want a reversal down from a wedge top, a trend channel line overshoot and […]
EURUSD Failed Breakout?
Market Overview: EURUSD Forex The market traded higher but reversed to close as a bear bar forming a possible EURUSD Failed Breakout. The bears will need to create follow-through selling to increase the odds of a deeper pullback. The bulls hope that the move down is simply a breakout test of the April high (breakout […]
Crude Oil Follow-through
Market Overview: Crude Oil Futures The weekly chart formed a crude oil follow-through bull bar following last week’s close above the 20-week exponential moving average and the bear trend line. The bulls want a retest of the April high. The bears hope that the market will stall around the middle of the 35-week trading range and […]
Emini Slightly Climactic, Always In Long
Market Overview: S&P 500 Emini Futures The market remains Always In Long with the Emini slightly climactic. The bears have not been able to create strong follow-through selling since the March low. They will need to create consecutive bear bars to increase the odds of a deeper pullback. The bulls want any pullback to be […]
Emini Loss of Momentum, Small Wedge
Market Overview: S&P 500 Emini Futures The S&P 500 Emini loss of momentum is represented by the overlapping price action in the last 5 weeks. It also formed a small wedge (Jun 16, Jun 30, and Jul 14). The bulls need to create follow-through buying to increase the odds of higher prices. The bears want a reversal […]
