Market Overview: Crude Oil Futures The Crude oil futures weekly candlestick formed a crude oil double top bear flag with October 10 high, closing as an outside bear bar. However, the long tail below makes it a weaker bear bar. Bears need a follow-through bear bar to increase the odds of a retest of the September low. […]
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 […]
Crude Oil Second Leg Sideways to Up
Market Overview: Crude Oil Futures The Crude oil futures is forming a crude oil second leg sideways to up from a higher low major trend reversal (Oct 18) on the weekly chart. It is the second leg up re-testing October 10 high. Bulls want a follow-through bull bar after breaking above the 20-week exponential moving […]
EURUSD Inside Bar Breakout Mode on Monthly Chart
Market Overview: EURUSD Forex The EURUSD Forex market formed an EURUSD inside bar on the Monthly chart and is in breakout mode. On the weekly chart, EURUSD is in a sideways to up pullback. This week traded lower but reversed back higher. Odds slightly favor the EURUSD to still be in the sideways to up pullback phase. […]
Crude Oil Triggered High 2 Buy Signal
Market Overview: Crude Oil Futures The Crude oil futures triggered the High 2 buy signal from a higher low major trend reversal (Oct 18). Bulls need a strong follow-through bar trading far above the 20-week exponential moving average and the bear trend line to increase the odds of higher prices. Bears hope that this is […]
EURUSD Weak Follow-through Bull Bar
Market Overview: EURUSD Forex The EURUSD Forex bulls got a weak follow-through bull bar following last week’s High 2 buy entry. The prominent tail above this week’s candlestick indicates that the bulls are not yet as strong as they would like to be. The bulls need to do more to convince traders that a larger sideways […]
Emini Strong Follow-through Bull Bar
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures bulls got a strong follow-through bull bar following last week’s High 2 buy entry. Since this week closed near its high, odds slightly favor the Emini to trade at least a little higher. If the bulls continue to create strong consecutive bull bars closing near their […]
Emini Triggered H2 Buy Signal but Trading Range
The S&P 500 Emini futures triggered the H2 buy signal on the weekly chart. The bulls need to create a follow-through bull bar to increase the odds of higher prices. Bears want a reversal lower from a double top bear flag with Oct 5 high or around the bear trend line. The Emini is forming a small trading range around the June low between 3500 and 3800. Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction.
Crude Oil No Follow-through bear bar
The Crude oil futures traded lower but the bears failed to get a follow-through bear bar and the market closed as a bull doji. The bears hope that this week was simply a pullback and want a second leg sideways to down to re-test the September low. The bulls want a second leg sideways to up re-testing October 7 high. Bulls will likely attempt to trigger the High 2 buy signal by trading above this week’s high.
