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 […]
DAX 40 Wedge Bottom and Tight Trading Range
Market Overview: DAX 40 Futures DAX futures was a DAX 40 wedge bottom and a tight trading range, low in a large trading range. it could be a double bottom buy setup, but bearish enough for a second leg down next week. Bulls are looking to swing for a break higher and measured move up. […]
FTSE 100 Micro Double Top at 50-Week MA
Market Overview: FTSE 100 Futures The FTSE futures market was a FTSE 100 micro double top at the 50-week moving average. Traders expected a second leg after the consecutive big bear bars and are deciding if we just finished the second leg. The bulls are looking for a second buy signal, but it’s a bear bar, […]
Emini likely rally back to 4,000 big round number soon
Trading Update: Friday September 16, 2022 Emini pre-open market analysis Emini daily chart The bears have done an excellent job disappointing the bulls. However, the market is in a broad trading range, so the bears will probably be disappointed soon. Emini likely rally back to the 4,000 big round number soon. The reason is that […]
Emini bears want strong close follow-through
Trading Update: Thursday September 15, 2022 Emini pre-open market analysis Emini daily chart As expected, yesterday was a disappointment for the bears, confirming the market is still in a broad trading range on the daily chart. While the bears failed to get follow-through yesterday, they will try hard to get a strong close follow-through today. […]