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 […]
DAX 40 bear channel pause at 13000 big round number
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 […]