Market Overview: Bitcoin Futures Bitcoin test of trend line top, touching weekly bear trend line by continuing to trade sideways for another consecutive week. Lately, the volatility has been contracting, an aspect that should be constructive looking forward into the future. However, the price remains below major resistances and while the bulls do not step […]
EURUSD Bulls Failed to Create Follow-through Buying Again
Market Overview: EURUSD Forex The EURUSD Forex weekly candlestick was a bear reversal bar. The EURUSD bulls failed to create follow-through buying again, a recurring theme since 2021. The bears want a retest of the September low and another breakout attempt. The bulls hope that this is simply a retest of the low and want a reversal […]
Emini Breakout Pullback, Tight Bear Channel
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures traded higher but gave back most of the gains by Friday. Bears see this simply as an Emini breakout pullback and want another breakout attempt below the June low. Because of the strong selloff, the bulls will need a strong reversal bar or at least a […]
Crude Oil Strong Rally, Bulls Need Follow-through
Market Overview: Crude Oil Futures Crude oil strong rally reversed higher closing above the bear trend line and the 20-week exponential moving average. The bulls need to create a follow-through bull bar to increase the odds of higher prices. Bears want a reversal lower from a double top bear flag with August 30 or July 29 […]
Nifty 50 Futures Wedge Bottom
Market Overview: Nifty 50 Futures The Nifty 50 on the weekly chart is forming a Nifty 50 futures wedge bottom and trading range price action, with increasing bad follow-through bars and increasing tails above and below bars. The market is also forming reversal patterns which is a sign that market is in a trading range phase. […]
DAX 40 Micro Double Bottom at 12000 Big Round Number
Market Overview: DAX 40 Futures DAX 40 Micro Double Bottom on the weekly chart as bulls started to scale in buys at the lows of the previous trading range. It is possibly still always in short after 3 consecutive bear bars, but the math favors bulls if they can get a better buy signal. So […]
FTSE 100 Outside Bar at Measured Move Target
Market Overview: FTSE 100 Futures The FTSE futures market reversed up last week at the trading range lows as an FTSE 100 outside bar so it’s in breakout mode. The bulls want a High 2 buy setup low in the trading range for a swing up. But after such strong bear bars, the odds favor a […]
Emini bears want strong entry bar today
Trading Update: Friday October 7, 2022 Emini pre-open market analysis Emini daily chart The bears got an inside bar yesterday, closing near its low. This creates a second entry short after the prior days outside the up bar. The bears want to trigger the short and want strong entry bar and successful bear breakout below […]
Emini Sideways to Up Likely and Test of 4,000
Trading Update: Thursday October 6, 2022 Emini pre-open market analysis Emini daily chart The bulls got a second leg up from the two-bar bull breakout on Monday and Tuesday. They are hoping for sideways to up likely with test of the 4,000 big round number. However more likely the market will continue sideways for now. […]
Emini Surprise Breakout Second Leg Up Likely
Trading Update: Wednesday October 5, 2022 Emini pre-open market analysis Emini daily chart The bulls have gotten a strong reversal over the past two trading days. The upside Emini surprise breakout is strong enough that the first reversal down will likely fail and lead to a second leg up. At the moment, the odds favor […]
