Trading Update: Tuesday November 8, 2022 Emini pre-open market analysis Emini daily chart The market is trying to reverse the November 2 surprise bear breakout. However, the odds still favor a second leg down, which means Emini bulls disappointment likely soon. The market is in a trading range, so the pullback could be deep and […]
Emini Bears Second Leg Down wanted after November 2 Breakout
Trading Update: Monday November 7, 2022 Emini pre-open market analysis Emini daily chart Emini bears got a surprise breakout on November 2, and bears second leg down wanted, possibly testing down to the October 21 low. The bulls want to trap the bears, rally above the November 1 high, and test the 4,000 big round […]
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. […]
Emini bounce possible before second leg down
Trading Update: Friday November 4, 2022 Emini pre-open market analysis Emini daily chart The bears got the minimum follow-through yesterday after Wednesday’s large bear breakout bar. The odds are that the market will have a second leg down to the October 21 low; but with an Emini bounce possible going above the November 2 high. […]
Emini May Test down to October 21 Low
Trading Update: Thursday November 3, 2022 Emini pre-open market analysis Emini daily chart The Emini had a strong reversal following the FOMC report yesterday and the Emini may test down and reach the October 21 low before the market can bottom. The buy-the-close bulls who bought the October 28 bull breakout were disappointed with the […]
Emini Bears Want Strong Selloff Following Today’s FOMC Statement
Trading Update: Wednesday November 2, 2022 Emini pre-open market analysis Emini daily chart Today is a FOMC Day, and bears want strong selloff to be the catalyst for a strong bear breakout following the report. Yesterday is a reminder that the market may have to pull back before reaching the 4,000 big round number. While […]
Emini 4,000 Big Round Number Magnet Above
Trading Update: Tuesday November 1, 2022 Emini pre-open market analysis Emini daily chart The Emini has been in a tight bull channel for several bars and is so close to the 4,000 big round number magnet that it may be unable to escape that target’s gravitational pull. While the rally up to October 28 is […]
Emini will probably need to reach 4,000
Trading Update: Monday October 31, 2022 Emini pre-open market analysis Emini daily chart The Emini got back to 3,900 last week and will probably have to reach 4,000 sometime this month. While the rally from October 13th is strong, it is still more likely a leg in a trading range than a bull trend. The […]
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 […]
EURUSD H2 Buy Signal, Need Follow-through
The EURUSD Forex bulls triggered the H2 buy signal on the weekly chart. Next week, the bulls need to create a follow-through bull bar to increase the odds of higher prices. Bears hope that the current pullback is simply forming a double top bear flag with October 4 high. The bear trend line and 20-week exponential moving average are resistances above.
