Market Overview: Bitcoin Futures Bitcoin testing year lows. Because there is a heavy magnet around $30000, traders think that the price will get there at some point during the next quarters; However, before that happens, the price might suffer a 25% price decline from current prices, by testing the 2017 close. This would also mean […]
EURUSD Consecutive Bear Bars below 7-Year Trading Range
The EURUSD Forex monthly candlestick was a consecutive bear bar below the 7-year trading range low. The long tails below July and August candlesticks indicate that the bears are not as strong as they could have been. Bears want a breakout below the 7-year trading range low followed by a measured move down based on the height of the 7-year trading range which will take them to the year 2000 low. The bulls want a reversal up from a trend channel line overshoot and parabolic wedge (November 24, May 13 and August 23).
Nasdaq 100 Low 1 Sell Signal below EMA
Market Overview: NASDAQ 100 Emini Futures NASDAQ Emini futures monthly candlestick is bear bar closing on its low with a tail on top. It is a NASDAQ 100 low 1 sell signal bar below the exponential moving average (EMA). Last month’s report had made a case for the market to go at least slightly higher […]
Emini August Monthly Candlestick Low Close
The S&P 500 Emini futures August candlestick closed as a reversal bar near the low. Odds are September should trade at least slightly lower. Bears want another consecutive bear bar to increase the odds of the 3rd leg down of a larger wedge pattern. Bulls want a reversal higher from a higher low major trend reversal.
Nifty 50 failed major trend reversal
Market Overview: Nifty 50 Futures Nifty 50 failed major trend reversal on the monthly chart. Bears tried to reverse the bull trend by selling lower high double top, but failed to cause a reversal. Rather bulls are now trying to resume the bull trend, by forming consecutive bull bars closing near their high. Nifty 50 […]
DAX 40 Breakout Test of the Prior Trading Range
Market Overview: DAX 40 Futures DAX futures reversed strongly closing on the lows so it’s a sell signal on the monthly chart. It’s a DAX 40 breakout test of the prior trading range of January 2021. The bears want a move back into that range, a failed wedge bottom. The bulls see support at the […]
FTSE 100 Monthly Sell Signal and 2nd Entry Short
Market Overview: FTSE 100 Futures The FTSE futures market was a monthly sell signal and 2nd entry short. We have yet to see consecutive bear bars on the monthly chart for over 2 years, so next month will likely be bullish. There are many magnets below: The 7000 Big Round Number, the moving averages and a […]
Emini bulls want strong entry bar today
Trading Update: Friday September 2, 2022 Emini pre-open market analysis Emini daily chart The bears began taking partial profits yesterday, and the bulls started to buy for scalps. Bulls want strong entry bar today. The market reached the July 8 breakout point where there were buyers. Most breakout points are eventually tested; this is because […]
Emini first reversal up likely minor
Trading Update: Thursday September 1, 2022 Emini pre-open market analysis Emini daily chart Emini first reversal up likely minor. Bears have done a great job getting follow-through from the August 26 bear breakout. While the market is probably always in short, however, it is approaching support levels like the June 28 breakout point high, which […]
Emini final day of the month
Trading Update: Wednesday August 31, 2022 Emini pre-open market analysis Emini daily chart The bears reached the 4,000 big round number yesterday and closed under it. While the bears want the market to continue down lower, the odds are that the market is in a buy zone as bears begin to take profits, and bulls […]
