Trading Update: Friday August 19, 2022 Emini pre-open market analysis Emini daily chart The open of the week (4,258.25) will be important today. The bulls have four consecutive bull bars on the weekly chart, and the bears want close below week open, and will try their best to end the bull streak. Traders should pay […]
Emini exhausted with likely pullback
Trading Update: Thursday August 18, 2022 Emini pre-open market analysis Emini daily chart Emini exhausted with likely pullback 300 points down before it rallies another 300 points. It is important to remember that exhaustion means the market went too far too fast. Exhaustion often leads to trading range price action and not an opposite trend. […]
Emini likely profit taking at 200-day moving average
Trading Update: Wednesday August 17, 2022 Emini pre-open market analysis Emini daily chart The Emini is testing the 200- day moving average on the daily chart for the first time since April 21 of this year. There will likely be profit taking, however any selloff will likely be minor. The market has multiple resistance levels […]
Emini racing up to April 18 low
Trading Update: Tuesday August 16, 2022 Emini pre-open market analysis Emini daily chart Emini racing up to April 18 low. Bulls got a strong trend bar yesterday and are getting close to the top of the bear channel (4,350 area); the odds are the market will have to reach the bear trendline above. The market […]
Emini testing bull channel top
Trading Update: Monday August 15, 2022 Emini pre-open market analysis Emini daily chart Emini testing bull channel top, with strong close last week. Bulls are trying their best to reach 4,300 and top of bull channel from the January high and the March 29 high. The rally is becoming exhaustive, increasing the odds of a […]
Bitcoin futures hold above 200-week moving average
Market Overview: Bitcoin Futures Bitcoin futures hold above 200-week moving average while the price is testing the May 9 low. During this week, the ioi breakout mode triggered to the upside, but the final result was not heavily bullish because the current weekly close is below the ioi high. Bitcoin futures The Weekly chart of […]
EURUSD breakout point test sideways to up
The EURUSD Forex continue trading sideways to up, testing the May breakout point. The current pullback has a lot of overlapping price action, indicating that the bulls are not strong yet. The bulls need to create consecutive bull bars closing near their highs and trading back into the 10-week trading range to increase the odds of a failed breakout below the 2017 low. If the pullback remains sideways, odds are the bears will get a second leg sideways to down re-testing July low.
Emini 4th consecutive bull bar – bull leg in trading range?
The S&P 500 Emini futures continue the strong rally up, likely to test the May 4 high and the bear trend line. The move up is strong enough for traders to expect at least a second leg sideways to up after a pullback. The bears want a reversal lower from a wedge bear flag (June 28, July 29 and Aug 13), but because of the strong leg up, the bears will need at least a micro double top or a strong reversal bar before they would be willing to sell aggressively.
Nifty 50 near big round number
Market Overview: Nifty 50 Futures Nifty 50 Near Big Round Number on the weekly chart and also formed a bull bar which continues the bull micro channel, making this move more climatic. Nifty 50 on the daily chart continued up even after reaching the channel measured move up, and thus forming another possible measuring gap (can […]
DAX 40 bull breakout at moving average
Market Overview: DAX 40 Futures DAX 40 bull breakout at the moving average (MA) so traders will decide next week where we go from here. The bears have been selling the MA since January and making money, and markets have inertia so we should expect selling above this week’s bar. But has the context changed? […]