Emini and Forex Trading Update:Tuesday April 7, 2020 I will update again at the end of the day. Pre-Open market analysis Yesterday gapped up and created a 3 day island bottom. I have been saying for 2 weeks that there would be a reversal up to above 2706.00. The Emini is above that level in […]
Emini weak Low 1 sell setup after March sell climax
Emini and Forex Trading Update:Monday April 6, 2020 I will update again at the end of the day. Pre-Open market analysis The Emini had a 7 day rally to the EMA on the daily chart last week and sold off for 3 days. But since there were no pullbacks in the rally, the bulls were […]
Ask Al: Depression? Recession? Where are we heading?
Trading room commentary: April 1, 2020 Commentary: Depression? Recession? Where are we heading?Video duration: 8min 7sec The market is going lower Remember I said on the 60-minute chart [last week] that I thought we had to go lower. I thought we really needed to get to this low or a little bit below, and maybe […]
Emini 2nd leg up to 2706.00 after March sell climax
Market Overview: Weekend Market Update The Emini will probably form a higher low after the extreme sell climax in March. The 1st target is 2706.00, which is 20% down from the high. Last week is a sell signal bar on the weekly chart. But there will probably be buyers below its low for a 2nd […]
Emini awaiting terrible April coronavirus unemployment report
Emini and Forex Trading Update:Friday April 3, 2020 I will update again at the end of the day. Pre-Open market analysis Yesterday was a trading range day, but it closed on its high. I said early this week that the pullback would probably only last 2 – 3 days. The bulls want yesterday to be […]
Emini sideways into April unemployment report after March sell climax
Emini and Forex Trading Update:Thursday April 2, 2020 I will update again at the end of the day. Pre-Open market analysis Yesterday triggered a sell signal on the daily chart after the 1st pullback to the EMA in a bear trend. However, following a 7 day bull micro channel, the bears will probably need at […]
Emini pullback likely before Friday’s April unemployment report
Emini and Forex Trading Update:Wednesday April 1, 2020 I will update again at the end of the day. Pre-Open market analysis By going above last week’s high yesterday, the Emini triggered a weekly buy signal. But since last week had a big tail on top and the bear trend was so strong, the buy setup […]
Emini end of quarter window dressing after coronavirus crash
Emini and Forex Trading Update:Tuesday March 31, 2020 I will update again at the end of the day. Pre-Open market analysis The Emini rallied in a weak Bull Trend From The Open yesterday. It then went sideways for several hours. There was late trend resumption up, and the Emini broke above yesterday’s high late in […]
Emini end of quarter window dressing after March coronavirus crash
Emini and Forex Trading Update:Monday March 30, 2020 I will update again at the end of the day. Pre-Open market analysis Friday was an inside day. It is therefore both a buy and sell signal bar for today. Since it was a doji bar, it will probably not lead to a big more up or […]
Emini expanding triangle bottom and short covering rally in April
Market Overview: Weekend Market Update The Emini reversed up from an extreme parabolic wedge sell climax. The 1st leg up of the short covering rally could last several weeks. In a few months, it might reach 2,800 – 3,000. Traders should expect a trading range for a couple months and probably all year. The bond […]