Emini and Forex Trading Update:Wednesday September 11, 2019 I will update again at the end of the day. Pre-Open market analysis Yesterday pulled back but closed on its high in a bull trend on the daily chart. It is therefore a High 1 bull flag buy signal bar for today. But, yesterday was the 4th […]
Emini outside down after gap up so possible island top
I will update again at the end of the day. Emini and Forex Trading Update:Tuesday September 10, 2019 Pre-Open market analysis Yesterday reversed down from above Friday’s high and then up from below Friday’s low. It was therefore an outside down day. Furthermore, it again tested the July 18 low, which was the neckline of […]
Emini breakout above August ledge top needs follow through buying
Emini and Forex Trading Update:Monday September 9, 2019 I will update again at the end of the day. Pre-Open market analysis The Emini gapped above the month-long trading range on Thursday. But Thursday and Friday were trading range days. The bulls did not get strong follow-through buying and the bears do not yet have a […]
Emini breakout above August ledge top might fail
Market Overview: Weekend Market Update The Emini broke above the top of a ledge on the weekly chart. There is a 50% chance that the breakout will fail. The 30 year treasury bond futures have a weak breakout above the 2016 wedge top. The odds favor a month or two of sideways trading. The EURUSD […]
Emini breakout above August ledge top
Emini and Forex Trading Update:Friday September 6, 2019 I will update again at the end of the day. Pre-Open market analysis The Emini broke above the top of the 5 week trading range yesterday. I have been saying that a bull breakout was highly likely because of the ledge top. Furthermore, I said that the […]
Emini just below August ledge top magnet above
Emini and Forex Trading Update:Thursday September 5, 2019 I will update again at the end of the day. Pre-Open market analysis Yesterday gapped up and rallied in a weak bull trend. I have mentioned the ledge top at the top of the 5 week trading range on the daily chart many times over the past […]
Emini in middle of August range with ledge top
Emini and Forex Trading Update:Wednesday September 4, 2019 I will update again at the end of the day. Pre-Open market analysis Yesterday sold off early, but the day formed a trading range. It closed above the open after a 2 day selloff. It is therefore a buy signal bar for today. However, it was a […]
Emini August ledge top and Breakout Mode
Emini and Forex Trading Update:Tuesday September 3, 2019 I will update again at the end of the day. Pre-Open market analysis The Emini on Friday sold off from the top of its 4 week trading range. It was the last day of the month and August closed above its midpoint. That is a sign of […]
Emini August ledge top so brief bull breakout likely
Market Overview: Weekend Market Update The Emini has a ledge top on the daily chart. Traders should expect a breakout above the 4 week range. But that breakout will probably fail and lead to a move below the August low. The monthly gold futures chart has rallied strongly, but is at resistance. It might pause […]
Emini month-end magnets are August midpoint and open
Emini and Forex Trading Update:Friday August 30, 2019 There will be no update at the end of the day due to Al travelling. Pre-Open market analysis I have been writing about the importance of the monthly chart since June went outside up after May was outside down. July triggered the oo bull flag buy signal […]