Trading Update: Friday July 15, 2022 Emini pre-open market analysis Emini daily chart The Emini reversed yesterday and closed on its high after falling below the June 30 low. The bulls need strong entry bar today, which will increase the odds of higher prices. The bulls have a double bottom higher low major trend reversal, […]
Emini bears want breakout below double top neckline
Trading Update: Thursday July 14, 2022 Emini pre-open market analysis Emini daily chart The bears want a breakout below the June 30 breakout double top neckline (June 28 and July 8 high). Next, the bears would want a measured move down below the June 17 low. Bulls still want a double bottom high low major […]
Emini bulls want double bottom higher low major trend reversal
Trading Update: Wednesday July 13, 2022 Emini pre-open market analysis Emini daily chart The bulls are hopeful the market will form a double bottom higher low major trend reversal with the June 30 low. The bulls had a higher low major trend reversal on June 30th. However, the bulls may need a double bottom higher […]
Emini bulls want second leg up testing June 28 high
Trading Update: Tuesday July 12, 2022 Emini pre-open market analysis Emini daily chart The bears ended the six consecutive bull bar streak yesterday by getting a bear bar. While the odds favor the bulls getting a second leg up after six bull bars, the rally up to July 8th is not as strong as the […]
Emini bears want close below open today or tomorrow
Trading Update: Monday July 11, 2022 Emini pre-open market analysis Emini daily chart The Emini has six consecutive bull bars on the daily chart. While this is good for the bulls and a sign of strength, six consecutive bars are not common. This increases the odds that bears want close below open today or tomorrow, […]
Bitcoin failing bear breakout
Market Overview: Bitcoin Futures Bitcoin failing bear breakout and stalling at Major Support. Short-term Bulls regained control after 3 months watching a Bearish price concert. Traders expect the price to pullback to $30000 before the end of this current Quarter. Bitcoin futures The Weekly chart of Bitcoin futures Context This week we had a bull […]
EURUSD bear breakout below 2017 low
The EURUSD Forex weekly candlestick broke out below the 7-year trading range. Bears want a measured move down based on the 7-year trading range height which will take them to the year 2000 low. Bulls want a failed breakout below the trading range and hope that the 10-week trading range is the final flag of the whole move down since 2021.
Nasdaq 3 consecutive bull closes above EMA on daily
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures is at the high of the last two weeks. So, the question is – does the market go higher or reverse? Every day of this short week was a bull bar. The market is also back above the daily exponential moving average (EMA), and 3 […]
Emini bull inside bar on weekly chart
The S&P 500 Emini futures weekly candlestick was a bull inside bar closing near the high. Bears failed to create follow-through selling this week. Bulls want a consecutive bull bar next week, something they have failed to do since April. They want a reversal higher from a trend channel line overshoot and a wedge bottom (Feb 24, May 20 and June 17). Since this week was an inside bar, the Emini is in breakout mode. The bear trend line remains a resistance above.
Nifty 50 futures trading range likely
Market Overview: Nifty 50 Futures Nifty 50 futures on weekly chart gave strong bull close after wedge bottom and 2nd leg trap increasing chances of upside momentum for next week. But trading range likely due to sharp selloff in previous week. Nifty 50 on daily chart turned out that bear flag was final flag, so there […]