Market Overview: DAX 40 Futures DAX futures broad bear channel pause at the 13000 big round number. We have been saying for the past few months that the market might need to spend some time here to decide where to go next. The bulls see a double bottom to set up a major trend reversal […]
FTSE 100 consecutive bear bars low in trading range
Market Overview: FTSE 100 Futures The FTSE futures market moved lower again last week with FTSE 100 consecutive bear bars low in a trading range. We are back at the October 2021 breakout point and it makes you wonder if this is a failed breakout above the high. With bulls unwilling to buy they might need […]
Emini bulls upside breakout wanted with test of 4,000
Trading Update: Friday July 8, 2022 Emini pre-open market analysis Emini daily chart The odds are beginning to favor the bulls. Emini bulls upside breakout wanted, a test of 4,000 and ultimately a test of the June major lower high. The daily chart now has five consecutive bull bars and is testing the June 24th […]
Emini more sideways trading likely
Trading Update: Thursday July 7, 2022 Emini pre-open market analysis Emini daily chart Emini more sideways trading likely going into tomorrow’s 5:30am PT unemployment report. The bulls had a weak bull close yesterday following the three consecutive bear bars. Bears see yesterday as a signal bar for a Low 2 short from the June 28 […]
Emini bulls want breakout after FOMC release today
Trading Update: Wednesday July 6, 2022 Emini pre-open market analysis Emini daily chart Yesterday was an outside up bar closing near its high. This is the third consecutive bull bar at what might be a higher low major trend reversal. Emini bulls want bull breakout following today’s FOMC release. The bulls want an upside breakout […]
Emini bulls want higher low major trend reversal
Trading Update: Tuesday July 5, 2022 Emini pre-open market analysis Emini daily chart Emini bulls want higher low major trend reversal with July 1. They want this to lead to an upside breakout. The higher low is only a few bars so it might be a minor reversal up. Bulls can also call this a […]
Bitcoin major drawdown structure
Market Overview: Bitcoin Futures The Bitcoin futures are down 60% since the year has begun. Down 73% from the highs, traders are wondering if the price will continue to trend down until $11800, which represents a Bitcoin major drawdown (85%) from the highs. Traders look at this 85% number because it is the size of […]
EURUSD June monthly candlestick was inside bear bar
The EURUSD Forex market is in a 10-week trading range. Bears want a breakout below the 2017 low followed by a measured move down based on the height of the 7-year trading range height. Bulls want a reversal higher from a wedge bottom and a double bottom from the 7-year trading range low. Traders will BLSH (Buy Low, Sell High) until there is a strong breakout from either direction.
Nasdaq monthly bear trend bar after doji bar
Market Overview: NASDAQ 100 Emini Futures NASDAQ Emini futures June monthly bear trend bar with a small tail at the bottom. The bulls had a fairly big tail below on the monthly bar going into the last week of June. They also had a close above the midpoint. However, the bears sold early in the week […]
Emini June bear bar with long tail below, TCL overshoot
The S&P 500 Emini futures June monthly candlestick was a bear bar with a long tail below. It also overshot the trend channel line. Bears want a measured move down to 3600 based on the height of the 9-month trading range height or lower around 3450, based on the height of the 12-month trading range starting from May 2021. The bulls from the January top as a two-legged pullback. They want a reversal higher from a wedge bull flag (February 24, May 20 and June 17) and a trend channel line overshoot.