Market Overview: Bitcoin Futures The Bitcoin futures end the Q3 2022 (3rd quarter of 2022) 72% down from all-time highs. During Q2 2022, the Bitcoin price experienced a large sell-off, but bears did not get good follow through selling during Q3 2022: the price closed above Q2 2022 close. The price will probably test $30000 […]
EURUSD Weak Bear Bar with Long Tail Below
Market Overview: EURUSD Forex The EURUSD Forex monthly candlestick was another EURUSD weak bear bar after breaking below the 7-year trading range low. There is now a micro wedge (July, Aug and Sept) on the monthly chart. Bulls want a larger 2-legged sideways to up pullback before the EURUSD trades lower. The problem with the […]
Crude Oil No Follow-through Selling on Weekly Chart
Market Overview: Crude Oil Futures The Crude oil futures continue to trade lower in a tight bear channel. However, there is a lot of overlapping price action on the weekly chart (crude oil no follow-through) which means the bears are not yet as strong as they could have been. The bears failed to get follow-through selling following […]
Emini Third Leg Down – Sept Close at Low
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures September candlestick closed below June low. The odds of an Emini third leg down of a larger wedge pattern have increased. Bulls want a reversal higher but need at least a strong reversal bar or a micro double bottom before they would be willing to buy […]
Nifty 50 Double Top and Increased Trading Range Action
Market Overview: Nifty 50 Futures A Nifty 50 double top formed on monthly chart and showed increasing trading range price action after the breakout of the small bear channel. Market is trading in the current range for the last 10 months now. Nifty 50 on the weekly chart has filled the breakout gap, so now less […]
DAX 40 Consecutive Bear Bars Closing on Lows
Market Overview: DAX 40 Futures DAX futures continued down this month with consecutive bear bars closing on lows. The bulls see a bull flag in a longer-term bull trend and expected the second leg to get back to near the breakout of the trading range. The bears see a tight bear channel, but with overlap […]
FTSE 100 Big Bear Bar Pause at 100-Month MA
Market Overview: FTSE 100 Futures The FTSE futures market continued down last month with a big bear bar pause as traders expected after an August strong sell signal. The bulls want a moving average gap bar buy setup and the bears want another leg down. It’s a longer-term trendline break, so some traders will expect a […]
Nasdaq 100 Bear Close below June Low Support
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures September monthly candlestick is a bear trend bar with close below June Low support, with a tail on top. It is a good entry bar following the Low 1 sell signal bar of last month. The market closed just below the June low. By closing below […]
Emini Failing to Break below June Low, Expect Rally Soon
Trading Update: Friday September 30, 2022 Emini pre-open market analysis Emini daily chart The bears broke below the June low yesterday, however, they failed to close below it, and the market will probably reverse up, so expect rally soon. The bulls see a micro wedge bottom (9/23, 9/27, 9/29) and will try for two legs […]
Emini Minor Reversal Up after June Low Test
Trading Update: Thursday September 29, 2022 Emini pre-open market analysis Emini daily chart The bulls got a bull reversal bar yesterday, ending the six-bar bear micro channel streak. A minor reversal up means traders should expect more sideways than straight up. The bears will look to sell the first reversal up. They want to prevent […]