Trading Update: Monday May 16, 2022 Emini pre-open market analysis Emini daily chart The Emini reversed up over the past two trading days from a 19% correction. The bulls hope that Thursday will be the low of the next several weeks and possibly months. While this may be the low, the channel down from the […]
EURUSD bear breakout test 2017 low
The EURUSD Forex broke below the tight trading range and tested the 2017 low. Bears want a strong break below 2017 followed by a measured move based on the height of the 7-year trading range. Bulls hope for a 2 legged sideways to up pullback to begin soon from a parabolic wedge and a trend channel line overshoot.
NASDAQ weekly bear reversal after reaching targets
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures reversed this week with a small bear body and a big tail at the bottom. NASDAQ weekly bear reversal with market reaching all targets mentioned last week on the weekly chart. It is reversing after reaching the Leg1 Leg2 target of 11720. A reversal here […]
Emini weak breakout bar below 9-month trading range
The S&P 500 Emini futures broke below the 9-month trading range this week but closed as a reversal bar with a bear body and a long tail below. The selling has been climactic. The bulls hope that a 2 legged sideways to up pullback will begin soon. The bears will need to create another bear bar to confirm the breakout below the trading range.
Nifty 50 futures consecutive bear bars closing near low
Market Overview: Nifty 50 Futures Nifty 50 futures consecutive bear bars formed on weekly chart closing near their lows, and also near measured move target shown in the weekly chart below. Nifty 50 on the daily chart forming micro double bottom just above March month low and also making a wedge bottom so possible reversal expected. […]
DAX double bottom in broad bear channel
Market Overview: DAX 40 Futures DAX futures moved higher last week with a possible DAX double bottom in a Broad Bear Channel. The bulls see a possible major trend reversal above the high of this week but the context is bad in a broad bear channel. The bears expect to sell above bars again this […]
FTSE High 2 possible at 20-week moving average
Market Overview: FTSE 100 Futures The FTSE futures market went sideways last week with a FTSE High 2 possible at the 20-Week Moving Average (MA.) We said last week a fifth bear bar on the weekly was unusual and traders expected a pullback. The bulls see a pullback from a tight channel up to the range […]
Emini likely bounce for a day or two
Trading Update: Friday May 13, 2022 Emini pre-open market analysis Emini daily chart The Emini yesterday closed as a bull reversal bar with a big tail above. While the signal bar looks weak, the context is good for at least an Emini likely bounce for a day or two. Yesterday reached a 19% correction on […]
Emini closed below March 2021 gap on monthly chart
Trading Update: Thursday May 12, 2022 Emini pre-open market analysis Emini daily chart The market closed below the March 2021 high, which was a gap on monthly chart. Bears have three consecutive bear bars, which is a sign of strong selling. The market has a 6-bar bear micro channel which is another sign of strength. […]
Emini testing March 2021 gap
Trading Update: Wednesday May 11, 2022 Emini pre-open market analysis Emini daily chart Emini testing March 2021 gap on the daily chart yesterday. The bears want to close below the gap as well as the March 17, 2021, breakout point, which would demonstrate the strength of the bears. The bears closed below the three-month […]