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.
Nifty 50 futures weak bear bars
Market Overview: Nifty 50 Futures The Nifty 50 futures formed 3 consecutive bear bars after long time in monthly chart, but are weak bear bars which are not enough to convince more bears to short the market. Nifty 50 on weekly chart gave bad follow through to a High 1 bull bar closing near high (green box). […]
DAX 40 outside down bar at 13000 big round number
Market Overview: DAX 40 Futures DAX 40 outside down bar at 13000 big round figure. The bulls failed to break out of the trend line and the inside-outside down pattern was sold off. It is a micro double bottom with March and looks bearish, but we are at prior support for the bulls. If the […]
FTSE 100 bear surprise bar at last month’s lows
Market Overview: FTSE 100 Futures FTSE 100 bear surprise bar at last month’s lows. The bulls see a pullback in a relentless bull trend and a limit buy signal here and lower near the 7000 big round number. It is the first quarterly close lower since March 2020. The bears see a double top reversal […]
Emini bulls likely higher low and June 28 high test
Trading Update: Friday July 1, 2022 Emini pre-open market analysis Emini daily chart Yesterday was a small doji bar which is disappointing to the bears on the daily chart. Emini bulls likely higher low favored with second leg up testing the June 28 high. Bulls want a break above the June 28 high and test […]
Emini bears likely disappointment around 3,800
Trading Update: Thursday June 30, 2022 Emini pre-open market analysis Emini daily chart Emini bears got a small follow-through bar yesterday. However, the follow-through bar was a doji and a reminder that the market is likely in a trading range, with bears likely disappointment around 3,800 (midpoint of the June 27 rally). Bulls will try […]
Emini bulls want second leg up test of 4,000
Trading Update: Wednesday June 29, 2022 Emini pre-open market analysis Emini daily chart The bulls will see yesterday as a pullback and want a second leg up test of 4,000. Yesterday was outside down surprise breakout bar. It is probably a strong enough surprise to have at least a small 2nd leg down. However, it […]