Market Overview: Weekend Market Analysis The SP500 Emini futures market has been sideways for 6 weeks in a yearlong strong bull trend, and therefore in Breakout Mode. Friday is a sell signal bar for a double top, but there will probably be buyers below. A bull breakout of the range is slightly more likely than […]
Emini May double bottom bull flag neckline being tested
Emini and Forex Trading Update:Friday May 21, 2021 Pre-Open market analysis of daily chart Yesterday was a 2nd consecutive big bull bar, and a good follow-through bar after Wednesday’s strong reversal up from a double bottom bull flag. Last Friday’s high is the neckline of the double bottom bull flag. The bulls need closes above […]
Emini either forming lower high in bear trend or pulling back from May 13 reversal up
Emini and Forex Trading Update:Wednesday May 19, 2021 Pre-Open market analysis of daily chart Yesterday was a bear day. It closed the gap above last Thursday’s high, eliminating last week’s 3-day island bottom. Today will probably gap down. That will create a 3-day island top. Remember, last week’s gap up created a 3-day island bottom, […]
Emini bulls want May V-bottom pattern
Emini and Forex Trading Update:Monday May 17, 2021 Pre-Open market analysis of daily chart Strong 2-day reversal up from sell climax, to below bottom of 4-week trading range. 3-day island bottom. Bulls looking for May V-bottom pattern. Bulls want May V-bottom, and for rally to continue up to new high. After 2 strong bull days, […]
Emini weekly Globex chart has consecutive outside bars
Market Overview: Weekend Market Analysis The SP500 Emini futures had a failed breakout above the top of its 4-week trading range last week, and a failed breakout below this week. Consecutive outside bars on the weekly Globex chart. The strong reversal up this week makes a successful breakout above the range more likely than a […]
Emini bounce after 3 day collapse
Emini and Forex Trading Update:Friday May 14, 2021 Pre-Open market analysis of daily chart Wednesday was big bear day that closed far below bottom of 4-week trading range. A 3-day collapse. Weekly chart has big bear bar, and Globex weekly chart has OO pattern (consecutive outside bars, so Breakout Mode). Yesterday’s low was above Wednesday’s […]
Emini bouncing from bottom of April trading range
Emini and Forex Trading Update:Wednesday May 12, 2021 Pre-Open market analysis of daily chart Last week broke above top of April trading range and today broke below bottom of the range. Yesterday closed just above the open of the day and therefore it was a weak bull day. Today has weak buy signal bar for […]
Emini breakout above 4-week tight trading range needs follow-through
Emini and Forex Trading Update:Monday May 10, 2021 Pre-Open market analysis of daily chart Friday broke above 4-week tight trading range, and closed near the high of the day and of the week. Bulls need follow-through buying today or tomorrow to confirm Friday’s breakout. If they get it, traders will look for 100-point measured move […]
Emini yearlong rally trying to resume after 4-week tight trading range
Market Overview: Weekend Market Analysis The SP500 Emini futures bulls got a breakout above the 4-week trading range on Friday. Trying to resume the Emini yearlong rally. They want Monday to be another bull bar, which would confirm the breakout and make higher prices likely. The bulls want a 100-point measured move up, based on […]
Emini bulls hoping April rally resuming
Emini and Forex Trading Update:Friday May 7, 2021 Pre-Open market analysis of daily chart Streak of 8 consecutive bear bars ended yesterday. Emini may see bulls rally resuming. There was another streak of 8 bear bars in 2005, and a streak of 10 bear bars in 2017. Therefore, this streak is extreme. Still in tight […]
