Market Overview: EURUSD Forex EURUSD Forex reversing lower from a wedge bear flag on the Daily Chart. The sell-off is in a 7-bar bear micro channel which means persistent selling. Odds favor at least a small second leg sideways to down after a pullback (bounce). EURUSD Forex market The Weekly EURUSD chart This week’s candlestick on […]
S&P 500 Emini pullback on weekly chart
Market Overview: S&P 500 Emini Futures S&P 500 Emini pullback on weekly chart. Bulls want a re-test of the March 29 high and a continuation higher to re-test the trend extreme. Bears want a reversal lower from a double top bear flag with the February high. Odds slightly favor a second leg sideways to up after the […]
Nifty 50 futures measuring gap near triangle top
Market Overview: Nifty 50 futures Nifty 50 futures measuring gap near 17900 with a weak bull bar at the top of an expanding triangle, and overall NIFTY 50 remained up by 1% this week. Nifty 50 futures The Weekly Nifty 50 chart Deeper into the price action Last few bars have been closing near their […]
DAX futures triggered low 1 sell
Market Overview: DAX 40 Futures DAX futures triggered low 1 sell on the weekly but with a tail below so not as bearish as it could be. We had 2 consecutive daily big bear bars closing below their midpoints last week. Is it a pullback from a tight bull channel or a broad bear channel? […]
FTSE 100 futures market traded higher
Market Overview: FTSE 100 Futures The FTSE futures market traded higher in a tight bull channel to a possible wedge top at the top of a trading range. The channel is tight enough to expect higher prices next week and any reversal to be minor. The bears will continue to sell new highs and scale in, […]
Emini bulls trying for High 2 bull flag
Trading Update: Friday April 8, 2022 Emini pre-open market analysis Emini daily chart The market went outside yesterday. The bulls are trying for High 2 bull flag on April 6. However, the signal bar is weak. The bulls want this current bull flag to lead to an upside breakout of the February high and the […]
Emini bears trying for breakout of bull flag
Trading Update: Wednesday April 6, 2022 Emini pre-open market analysis Emini daily chart The market broke above the February high during the U.S. day session for the second time. The bulls failed to keep the market above the February high, and the bears were able to successfully close the market below it. I stated yesterday […]
Emini bears want second failed breakout of February high
Trading Update: Tuesday April 5, 2022 Emini pre-open market analysis Emini daily chart The bulls were able to get a strong bull close yesterday, which reversed most of the March 31 bear bar. Bears want second failed breakout. Yesterday increases the odds that the market will go at least a little bit higher. The bulls […]
Emini likely to bounce for a day or two
Trading Update: Monday April 4, 2022 Emini pre-open market analysis Emini daily chart The Emini has had a pullback over the past few days following the strong rally from the March 14 low. The odds are the Emini is likely to bounce with a rally over the next day or so due to bears buying […]
Nifty 50 futures strong bull close in middle of trading range
Market Overview: Nifty 50 futures The Nifty 50 futures ended March with a strong bull close in middle of trading range after 5-6 months of indecisive bars. Now the only thing bulls need is a good follow-through bar for continuing the trend again after a long halt, but the bears only need a weak bull […]