Trading Update: Friday September 23, 2022 Emini pre-open market analysis Emini daily chart The bears are getting very close to June low and may have to get down to it. The bulls had a strong rally up to September 12. However, the bears got a strong reversal down, trapping the bulls. While the bears have […]
Emini bulls want to disappoint bears after yesterday’s bear breakout
Trading Update: Thursday September 22, 2022 Emini pre-open market analysis Emini daily chart The Emini broke below the September 18 low by going outside down yesterday. The bulls will see this breakout as the third leg in a wedge bottom (8/24, 9/6), and they hope today will be a strong reversal bar closing on its […]
Emini FOMC Report Today, Bulls Want Upside Breakout Test of 4,000
Trading Update: Wednesday September 21, 2022 Emini pre-open market analysis Emini daily chart The market is beginning to stall just under the September 6 breakout point and will probably have to bounce with upside breakout test of the 4,000 big round number soon. There is the Emini FOMC report today at 11:00 PT which has […]
Emini Testing Breakout Point of September 6
Trading Update: Tuesday September 20, 2022 Emini pre-open market analysis Emini daily chart Emini market is reversing up and testing breakout point of the September 6 low. This is probably the start of a couple of legs sideways to up. The bears will try and keep the September 6 breakout gap open, however, it will […]
Emini Wedge Bottom Likely Rally Back to 4,000 Soon
Trading Update: Monday September 19, 2022 Emini pre-open market analysis Emini daily chart The market reversed up late Friday, painting a tail on top of the bar. The market will likely have to reach the September 6 breakout point soon and close the open gap with wedge bottom likely rally and test of 4,000. The […]
Bitcoin Bull Reversal Failing
Market Overview: Bitcoin Futures The Bitcoin futures traded above last week’s high, and then it reversed down, with Bitcoin bull reversal failing. Traders are confused because the price is at support and resistance simultaneously. Bears targets are at an 80% drawdown from the all-time highs. Bitcoin futures The Weekly chart of Bitcoin futures This week’s […]
EURUSD Weak Bear Bar after Testing Bear Trend Line
The EURUSD Forex was a weak bear bar with tail above and below. The bulls failed to create a consecutive bull bar on the weekly chart. The bulls hope that this week was simply a pullback and wants at least a small second leg sideways to up closing above the bear trend line. The bears will need to create a follow-through bear bar to increase the odds of the EURUSD trading lower.
Nasdaq 100 Second Leg of Pullback
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures market resumed the second leg of pullback by going above last week’s high and closing below last week’s low – an outside down bar. As was mentioned in last week’s report, sellers were expected above last week’s high, and they came in at the weekly […]
Emini Big Bear Outside Bar – OO Breakout Mode
The S&P 500 Emini futures traded above last week’s high but reversed to close below last week’s low, closing as a big outside bear bar. There is now an OO (outside-outside pattern). The Emini is in breakout mode. The bar sometimes after an outside bar is an inside bar, forming an ioi (inside, outside, inside) pattern, which is also a breakout mode. Traders will be monitoring whether the bears get a consecutive bear bar or fail to do so. If the bears get it, the odds of a test of the June low increase.
Nifty 50 Futures Double Top
Market Overview: Nifty 50 Futures Nifty 50 futures double top on weekly chart with a strong bear bar closing near low. Still, the breakout gap is open which indicates some strength. Currently on the weekly chart, the market is near the trading range top so traders avoid buying this high. Nifty 50 on the daily […]