Market Overview: S&P 500 E-mini Futures The weekly E-mini bears need follow-through selling following this week’s outside bear bar. They are looking for a second leg sideways to down to retest the November 21 low. If the market trades lower, bulls want the 20-week EMA to act as support, forming a wedge bull flag, with […]
EURUSD Broke Above the Bear Trendline
Market Overview: EURUSD Forex The EURUSD broke above the bear trendline this week. Bulls now need additional follow-through buying, trading clearly above the 20-week EMA and the bear trendline, to raise the odds of trend resumption. Bears see the current pullback (bounce) as forming a double top bear flag (Nov 13 and Dec 4) and […]
Weekly Crude Oil Bulls Need Strong Follow-through Buying
Market Overview: Crude Oil Futures The weekly Crude oil bulls need strong follow-through buying closing far above the 20-week EMA and the bear trendline to show they are taking control. If the market trades higher, bears want the 20-week EMA and the bear trendline to hold as resistance, forming another major lower high. Crude oil […]
Weekly E-mini Bulls Need Follow-through Buying
Market Overview: S&P 500 E-mini Futures The weekly E-mini bulls need follow-through buying breaking strongly above the October 29 high. If the market trades lower, they want the 20-week EMA to act as support. Bears hope the market stalls near the November 12 high area, forming a double top bear flag and a lower high […]
Buyers Below the 7-Bar Emini Bull Microchannel
Market Overview: S&P 500 E-mini Futures There were buyers below the 7-Bar Emini bull microchannel on the monthly chart. Bulls need to create a strong breakout above the October 29 high with sustained follow-through buying to resume the trend. Bears will need consecutive bear bars closing near their lows to show they are regaining control. […]
Inside Bear Bar on Crude Oil Monthly Chart
Market Overview: Crude Oil Futures The market formed an inside bear bar on Crude Oil monthly Chart. If the market trades higher, bears want the 20-month EMA or the bear trendline to act as resistance. Bulls see the current move as a pullback within the trading range and want a reversal from a higher-low major […]
Limited Follow-Through Selling on the EURUSD Monthly Chart
Market Overview: EURUSD Forex There was limited follow-through selling on the EURUSD monthly chart in November. Bulls want the August low to act as support, forming a double bottom bull flag (Aug 1 and Nov 5). Bears see November as a pullback and hope to get at least a small second leg sideways to down. […]
Weekly EURUSD Bear Leg in a Trading Range
Market Overview: EURUSD Forex The market formed a weekly EURUSD bear leg in a trading range. Bulls want the 20-week EMA and the August low area to act as support, forming a large double bottom bull flag (Aug 1 and Nov 5) and a wedge bull flag (Sep 25, Oct 9, Nov 5). Bears need […]
Crude Oil Retest of the October Low
Market Overview: Crude Oil Futures The market is forming a Crude oil retest of the October low. Bulls want a reversal from a higher low major trend reversal and a wedge bull flag (Nov 6, Nov 13, Nov 21). Bears hope for a strong bear leg breaking below the October low to test the lower […]
E-mini Pullback to the 20-Week EMA
Market Overview: S&P 500 E-mini Futures The market formed a S&P 500 E-mini pullback to the 20-week EMA. Bears will need consecutive bear bars closing near their lows and breaking far below the 20-week EMA to show they are firmly in control. Bulls want the October 10 low and the 20-week EMA to act as […]
