Emini and Forex Trading Update:Tuesday April 21, 2020 I will update again at the end of the day. Pre-Open market analysis The Emini reversed up yesterday from below Friday’s low. It then reversed back down from the 50 day moving average to close near the low. That increases the chance of lower prices today. The […]
Emini April rally near resistance and pullback likely soon
Emini and Forex Trading Update:Monday April 20,2020 I will update again at the end of the day. Pre-Open market analysis The Emini has rallied strongly for several weeks. It is testing the March 10 lower high and the 50 day moving average. There is room to the 20 week EMA and that might be the […]
Emini V bottom wedge rally testing February close
Market Overview: Weekend Market Update The Emini has rallied strongly for 4 weeks. The bulls are trying to reach the February close to erase the entire March selloff. The rally has a wedge shape, which means it is a buy climax. But traders will buy the 1st 2 – 4 week pullback. The bond futures […]
Emini April bull trend reversal is now testing 20 week EMA
Emini and Forex Trading Update:Friday April 17, 2020 I will update again at the end of the day. Pre-Open market analysis Yesterday triggered a High 1 buy signal on the daily chart by trading above Wednesday’s high. It closed near the high, which increased the chance of higher prices today. Today will probably gap up […]
Emini island bottom and top in April’s developing trading range
Emini and Forex Trading Update:Thursday April 16, 2020 I will update again at the end of the day. Pre-Open market analysis Yesterday gapped down and Tuesday therefore is a 1 day island top. The Emini will probably be in a trading range all year. Island tops and bottoms are common in trading ranges. They are […]
Emini April rally is wedge and in sell zone
Emini and Forex Trading Update:Wednesday April 15, 2020 I will update again at the end of the day. Pre-Open market analysis After an early selloff yesterday, the Emini reversed back up. The 4 week bull trend has been strong. Also, the 50 day simple moving average and the March 10 lower high are magnets above. […]
Emini testing above 50% pullback and 20% correction
Emini and Forex Trading Update:Tuesday April 14, 2020 I will update again at the end of the day. Pre-Open market analysis The Emini yesterday formed a triangle on the 5 minute chart. That is a Breakout Mode pattern. There was a small bull breakout at the end of the day and it continued overnight. Yesterday […]
Emini bear rally retraced 50 percent of coronavirus crash
Emini and Forex Trading Update:Monday April 13, 2020 I will update again at the end of the day. Pre-Open market analysis A few weeks ago, I said that the parabolic wedge sell climax on the daily chart would lead to a strong reversal. I said the rally should reach 2706, which is 20% down from […]
Emini wedge rally to 50% retracement of coronavirus crash
Market Overview: Weekend Market Update The Emini has reversed up strongly for 3 weeks. There is no top yet. However, the rally is probably a bull leg in what will become a trading range. Traders should expect a 2 week bear leg to begin by the end of the month. Bond futures had a blow-off […]
Emini should test 50 percent pullback from bear trend
Emini and Forex Trading Update:Thursday April 9 I will update again at the end of the day. Pre-Open market analysis The Emini yesterday formed a bull trend resumption day. It totally reversed Tuesday’s selloff. The next target is 2781, which the Emini reached right before the open. That is a 50% retracement of the 2 […]