Trading Update: Thursday April 28, 2022 Emini pre-open market analysis Emini daily chart Emini likely to bounce and will probably get back to the April 25 close. This is because some bulls who bought before the April 25 signal bar triggered (or during the Globex session, which it did trigger) would be willing to buy […]
Emini bulls want micro double bottom and bounce
Trading Update: Wednesday April 27, 2022 Emini pre-open market analysis Emini daily chart The Emini bulls want a micro double bottom and bounce today. They will likely get a bull close due to the bears reaching the target of the March 14 low. If today closes near its high, it could set up a credible […]
Emini bulls want follow-through and second leg trap
Trading Update: Tuesday April 26, 2022 Emini pre-open market analysis Emini daily chart Yesterday was a strong bull reversal bar on the daily chart. Emini bulls want follow-through today, hoping yesterday will lead to a second leg trap. They want a reversal up to close the gap at the April 18 low and ultimately get […]
Emini bear breakout below wedge bottom
Trading Update: Monday April 25, 2022 Emini pre-open market analysis Emini daily chart Emini bear breakout below wedge bottom. The bears now have two consecutive bear bars, one completely below the moving average. Right now, there is at least a 60% chance the bears will get some kind of measured move down. The bulls tried […]
EURUSD pullback after breakout below March 4 low
The EURUSD Forex is trading sideways after breaking below March 4 low. It may continue to trade sideways for another week or two. If there is a breakout, odds slightly favor a downside breakout more. Bulls need to create consecutive big bull bars trading far above April 21 high to convince traders that a reversal higher may be underway.
Nasdaq big outside bear bar closing on low
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures weekly candlestick is a big outside bear bar closing on its low well below the monthly EMA (good for the bears). This is the first time since May 2021 that there are three consecutive bear bars. The week opened below last week’s low, then went […]
Emini third consecutive bear bar on weekly chart
The S&P 500 Emini futures had a failed failure on the weekly chart. Odds slightly favor sideways to down early next week. It may even gap down on Monday. However, small gaps usually close early.
Bears want a test of the February low followed by a strong breakout and a measured move down. Bulls want next week to have a bull body, even though the Emini may trade lower first.
Nifty 50 futures pullback (50%) & limit orders filled
Market Overview: Nifty 50 Futures The Nifty 50 futures pullback (50%) gave a indecisive close (i.e., Doji) for this week, and filled the buy limit orders present at the positive gap. Overall week was sideways with no major move. Nifty 50 gapped down on the open (i.e. Monday ~start of the week) and the close […]
DAX 40 – Micro double top and failed buy signal
Market Overview: DAX 40 Futures DAX futures closed lower last week with a Micro Double Top (DT) and failed buy signal but without new lows. The weekly broad bear channel has set up a possible head and shoulders sell on the daily chart. The bulls have managed to reverse consecutive bear bars and with buyers […]
FTSE 100 Low 1 sell signal at top of trading range
Market Overview: FTSE 100 Futures The FTSE futures market traded lower last week with consecutive bear bars near the top of trading range. It’s a Low 1 sell signal on the weekly and a Low 2 sell on the daily chart so we should move down next week. But the FTSE has failed to get 3 […]