Trading Update: Wednesday June 22, 2022 Emini pre-open market analysis Emini daily chart Emini likely bounce and test of 4,000 big round number within the next month or two. The odds are the market will reach 3,800, which is the bottom of the May 20 low, sometime this week or next week. The Emini gapped […]
Trading Update: Tuesday June 21, 2022 Emini pre-open market analysis Emini daily chart The odds favor the Emini having a rally of 100 points higher and testing 3,800 over the next couple of days as the bears take partial profits and the bulls buy for scalps. While it is possible the market keeps going down […]
Market Overview: Bitcoin Futures Bitcoin sell vacuum test within a Bear Channel, down 70% from all-time highs and currently testing a major support: the previous Breakout Point, which happens to be the previous all-time high. Last week, a Low 2 sell signal bar triggered; so far, this week responded with a Lower Low. However, there […]
The EURUSD Forex re-tested the low and the bears got a weak follow-through bar on the weekly chart. The bears want a breakout below the May low followed by a measured move down based on the height of the 7-year trading range. The bulls want a reversal higher from a double bottom major trend reversal following the trend channel line overshoot and wedge bottom.
Market Overview: NASDAQ 100 Emini Futures Nasdaq trading range bear bar candlestick closing below last week’s low, but with tails above and below. The week opened at the May low and closed lower for the 1st two days of the week. Wednesday was a trading range day but with bull body in the middle, which means […]
The S&P 500 Emini futures gapped down and broke below the May low. Bears want a continuation to measured moves below around 3600 and 3450. While the bulls have a trend channel line overshoot, they need at least a micro double bottom or a strong bull reversal bar before they would be willing to buy aggressively.
Market Overview: Nifty 50 Futures Nifty 50 wedge bottom with strong bear close this week. Overall structure is climatic and probably a halt expected next week due to wedge bottom. Wedge bottom usually has a double bottom breakout, so bears if want to continue the trend down they would need another bear close next week as […]
Market Overview: DAX 40 Futures DAX failed bull breakout and a possible double bottom. Traders sold the market for the last 2 weeks so we should get a another leg down but it’s at key support so profit taking will take us sideways. If bulls can get a good reversal that might set the trading […]
Market Overview: FTSE 100 Futures FTSE always in short at the bottom of a trading range. It could be a sell climax down to the big round number of 7000. The bulls see we are at the bottom of a trading range and will look to scale in short. The bears see we broke down […]
Trading Update: Friday June 17, 2022 Emini pre-open market analysis Emini daily chart The Emini is likely to try and rally 200 points soon. Yesterday was a big outside down day and was a second leg from last week’s selloff. Now that the bulls have a second leg down. As strong as yesterday was, the […]