Market Overview: S&P 500 Emini futures The S&P 500 Emini futures pause after testing the February 2 high this week on the weekly chart pulling back slightly to close below it. The bulls hope that this is simply a pause before the trend resumes higher to test the January high. The bears want the Emini to stall […]
DAX futures large sell climax
Market Overview: DAX 40 Futures DAX futures had a large sell climax in March but still closed slightly higher. We are sitting at the 50% retracement from the bear leg and are stalling around the 50-month MA. Next week traders will decide if we can get a successful high 1 buy on the monthly chart […]
FTSE futures continued higher
Market Overview: FTSE 100 Futures The FTSE futures continued higher with 4 weekly bull bars but failed to close above the highs of January or February so it is not as bullish as it could be. We are at the highs of a trading range and with tails on top it is reasonable to scale into […]
Nasdaq failed breakout above 20-week EMA
Market Overview: Nasdaq 100 Emini futures This week’s Nasdaq Emini candlestick is a Low 2 sell signal at the weekly EMA, but with a bull body. It essentially is a failed breakout above the 20-week EMA. The week started strong, going above the swing lower high of week of 1/31, but the last three days of the […]
Emini bulls disappointed with yesterday’s close on low
Trading Update: Friday April 1, 2022 Emini pre-open market analysis Emini daily chart Emini yesterday was a big bear bar with its close on low. The bear breakout bar was enough to make the odds favor a small second leg down. Yesterday was also a reminder that the daily chart is in a trading range. […]
Emini final trading day of the month
Trading Update: Thursday March 31, 2022 Emini pre-open market analysis Emini daily chart Today is the final trading day of the month, so the bulls want a strong close, and the bears want to disappoint monthly chart traders as much as possible. The Emini got a bear close yesterday after four consecutive bull bars on […]
Emini sideways likely for a day or two
Trading Update: Wednesday March 30, 2022 Emini pre-open market analysis Emini daily chart The current rally is very climactic, with only one bear bar in 11 bars, so the odds are we will see Emini sideways likely for a few days to relieve the exhausted bulls. The daily chart closed above the February high and […]
Emini bulls breaking above 4,600 and February high
Trading Update: Tuesday March 29, 2022 Emini pre-open market analysis Emini daily chart Emini bulls breaking above 4,600 with the Emini reaching the February high today and 4,600 round number during the Globex session So far, the bulls have a strong breakout since the March 14 low. The bulls are hopeful that this rally is […]
Emini tight bull channel testing February 9 high
Trading Update: Monday March 28, 2022 Emini pre-open market analysis Emini daily chart Emini tight bull channel on daily chart and near the February 9 high and 4,600. Both of these are magnets, and the market is probably close enough it will have to get there. The bulls are hopeful that this rally will continue […]
EURUSD sideways pullback after parabolic wedge
Market Overview: Weekend Market Analysis The EURUSD Forex has been trading sideways for the last 2 to 3 weeks. The bears want a reversal lower from a double top bear flag or a wedge bear flag. If the EURUSD sideways pullback continues, odds are sellers will return to sell the pullback. The bulls want this […]