Market Overview: Weekend Market Analysis The SP500 Emini futures is breaking strongly above a 3-month bull channel in an extreme buy climax. The magnets above are the top of the bull channel and measured move targets. Since there have been 11 days without a pullback, there should be a brief pullback next week. The EURUSD […]
Emini June bull streaks should end soon
Trading Update: Friday July 2, 2021 Emini pre-open market analysis Emini daily chart Broke above 4,300 Big Round Number yesterday for the 1st time. Market has stalled at every Big Round Number over the past year, except 4,000. This increases the chance of at least a couple sideways days next week. Yesterday was the 10th […]
Emini has 8-day bull micro channel at end of June
Trading Update: Wednesday June 30, 2021 Emini pre-open market analysis Emini daily chart I have been saying since last Monday that the Emini was likely to be strongly up through the 4th of July. It could reach the 4,400 measured move target before there is a correction. The past 5 days were small, but each […]
Emini rallying into the end of June
Trading Update: Monday June 28, 2021 Emini pre-open market analysis Emini daily chart Emini rallying all 5 days last week and broke out to new all-time high. Last week of June tends to be up. There often is end-of-the-quarter window dressing and euphoria before the holiday. 6-day bull micro channel so might get 1- or […]
Emini rally accelerating into 4th of July possible
Market Overview: Weekend Market Analysis The SP500 Emini futures reversed up strongly this week. It is breaking above a 3-month trading range and a measured move target. Emini rally accelerating into the 4th of July possible. The EURUSD Forex market formed a bull inside bar after a big bear breakout last week. This creates confusion […]
Emini late June rally should break to new high
Trading Update: Thursday June 24, 2021 Emini pre-open market analysis Emini daily chart After 2 big bull days, yesterday was likely to pause, and it did. It was a small bear doji bar. The Emini might pull back for a day or two, but traders should expect a break to new high. Yesterday is a […]
Emini rallying from bear trap (late June)
Trading Update: Tuesday June 22, 2021 Emini pre-open market analysis Emini daily chart Yesterday opened near Friday’s open with the Emini rallying from bear trap. A bull day after a big bear day where there is very little overlap between the 2 days is bullish. Many of Friday’s sellers did not exit today. If they […]
Emini reversing down from June’s wedge rally to double top
Market Overview: Weekend Market Analysis The SP500 Emini futures market is reversing down on the daily chart from a wedge rally to double top (higher high) with the May high. If the bears get follow-through selling next week, the rally will test the May low. The EURUSD Forex market on the weekly chart is reversing […]
Emini High 1 buy signal bar but weak after June FOMC
Trading Update: Friday June 18, 2021 Emini pre-open market analysis Emini daily chart Fell below Wednesday’s low, but reversed up and closed just above open. Yesterday is an Emini High 1 buy signal bar, but after 2 big bear days, and without a big bull body, it is a weak buy setup. However, it was […]
Emini might make big move today after June FOMC report
Trading Update: Wednesday June 16, 2021 Emini pre-open market analysis Emini daily chart Even though buy climaxes on weekly and monthly charts, no credible top, so odds favor higher prices. June FOMC report at 11am PT today. Tight bull channel on daily chart for 4 weeks, so traders continue to expect higher prices. They will […]
