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 […]
Emini likely bounce as bears take partial profits
Trading Update: Tuesday August 30, 2022 Emini pre-open market analysis Emini daily chart Yesterday was a disappointing bar for both the bulls and bears. The market will likely bounce here as bears take partial profits and may test the 4,100 area. This is because the risk is big for the bears, so they will likely […]
Emini bears likely disappointment soon
Trading Update: Monday August 29, 2022 Emini pre-open market analysis Emini daily chart Emini bears likely disappointment soon. Friday was a substantial bear-trend bar, which was a surprise. At the moment, the odds favor at least a small 2nd leg down over the next couple of days. Since Friday is a climactic bar, it is […]
Bitcoin Bearish Follow through
Market Overview: Bitcoin Futures Bitcoin bearish follow through closed the week at the lows of the week, below last week’s low: traders continued selling. When June closed (the semester) the price went up; hence, traders won’t be surprised if the price reverses up again around there; However, there are decent signs of bearish strength suggesting […]
EURUSD Retest of July Low, Prominent Tail below Weekly Candlestick
The EURUSD Forex weekly candlestick was a bear follow-through bar testing July low. The prominent tail below indicates that the bears are not yet as strong as they would like to be. The bears want a strong breakout and a measured move based on ??? below July low. Bulls want the EURUSD to stall around the July low and another reversal attempt from a wedge bottom (Mar 4, May 13 and July 14) and a double bottom with the July low (July 14 and May 23).
