Market Overview: Nifty 50 Futures Nifty 50 bad follow-through after a breakout attempt of the all-time high level. Market on the monthly chart is currently in a trading range phase as many tails up and down are seen in the last few bars, so traders can expect a few more bars of sideways price action. […]
Emini Weak Second Breakout Attempt below June Low
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures bears got a weak second breakout attempt below the June low, however, the weekly candlestick had a long tail below. The first 2 legs of the wedge had at least 3 candlesticks. Unless there is a surprisingly big reversal up, the bears expect this leg to […]
Emini failed breakout below inside bar on weekly chart
The S&P 500 Emini futures broke below the prior week’s bull inside bar but reversed to close near the high. It is likely a failed breakout from the i pattern. Bulls want a reversal higher from a wedge bottom and a trend channel line overshoot. They want at least another leg higher from a higher low major trend reversal. The bulls will need to create consecutive bull bars closing far above the June 28 high to increase the odds of a test of the June 2 high.
Emini possible failed breakout below trading range?
The S&P 500 Emini futures May candlestick closed as a doji bar. The bears failed to get a follow-through bear bar. Bulls see the move down from the January high as a 2 legged pullback and a wedge bull flag (January 24, February 24 and May 20). Bulls will need to close June as a strong bull bar near the high to increase the odds of a failed breakout below the trading range.
Emini bulls want failed breakout below wedge bottom
Trading Update: Monday April 18, 2022 Emini pre-open market analysis Emini daily chart The bulls are trying to form a wedge bull flag (April 1, April 6, and April 13) and want failed breakout below wedge bottom. The bears went outside down following the credible stop entry buy on April 13. This increases the odds […]
Emini bears want second failed breakout of February high
Trading Update: Tuesday April 5, 2022 Emini pre-open market analysis Emini daily chart The bulls were able to get a strong bull close yesterday, which reversed most of the March 31 bear bar. Bears want second failed breakout. Yesterday increases the odds that the market will go at least a little bit higher. The bulls […]
Emini reversal after failed breakout below OO pattern
Trading Update: Monday February 28, 2022 Emini pre-open market analysis Emini daily chart The Emini broke below the January low last week, followed by reversal after failed breakout. The selloff last week was also a test of the 7-month trading range. The bulls hope that the February 24 strong buy signal bar and the follow-through […]
Emini breakout below OO but no follow-through selling
Market Overview: Weekend Market Analysis The SP500 Emini futures traded below January low, triggering the sell signal from the second OO pattern on the monthly chart. However, there was no follow-through selling and the Emini reversed back above the middle of the bar. Monday is the final day of the month. The bulls want a close far […]
Emini wedge bottom and failed breakout below January 28
Trading Update: Tuesday February 22, 2022 Emini pre-open market analysis Emini daily chart On the daily Emini chart, Friday’s candlestick was a bear bar with a tail below closing slightly below February 14’s low. The bulls are hopeful they can get a strong stop entry buy setup for the Emini wedge bottom early next week, […]
Emini has monthly sell signal for failed breakout above OO
Trading Update: Wednesday December 1, 2021 Emini pre-open market analysis Emini daily chart Yesterday was a big bear day and it broke below Friday’s low. Yesterday was the final trading day in November. On the monthly chart, November is a bear bar closing near its low, a monthly sell signal. On the monthly chart, October […]
