Trading Update: Friday June 24, 2022 Emini pre-open market analysis Emini daily chart The bulls want today to close above 3,800 and have a strong finish to week. Bulls are trying to get a reversal from the bear breakout below the May 20 low. The bulls closed just under 3,800 yesterday. The market will likely […]
Emini may close above 3,800 today or tomorrow
Trading Update: Thursday June 23, 2022 Emini pre-open market analysis Emini daily chart The daily chart is just under 3,800 and the May 20 low. The Emini may close above 3,800 today or tomorrow. The odds favor a test up to the 4,000 price level before the market goes much lower. The bears want any […]
Emini likely bounce and test 4,000 big round number
Trading Update: Wednesday June 22, 2022 Emini pre-open market analysis Emini daily chart Emini likely bounce and test of 4,000 big round number within the next month or two. The odds are the market will reach 3,800, which is the bottom of the May 20 low, sometime this week or next week. The Emini gapped […]
Emini likely to go 100 points higher and reach 3,800
Trading Update: Tuesday June 21, 2022 Emini pre-open market analysis Emini daily chart The odds favor the Emini having a rally of 100 points higher and testing 3,800 over the next couple of days as the bears take partial profits and the bulls buy for scalps. While it is possible the market keeps going down […]
Bitcoin sell vacuum test of major support
Market Overview: Bitcoin Futures Bitcoin sell vacuum test within a Bear Channel, down 70% from all-time highs and currently testing a major support: the previous Breakout Point, which happens to be the previous all-time high. Last week, a Low 2 sell signal bar triggered; so far, this week responded with a Lower Low. However, there […]
EURUSD weak bear follow-through retesting low
The EURUSD Forex re-tested the low and the bears got a weak follow-through bar on the weekly chart. The bears want a breakout below the May low followed by a measured move down based on the height of the 7-year trading range. The bulls want a reversal higher from a double bottom major trend reversal following the trend channel line overshoot and wedge bottom.
Nasdaq trading range bear bar closing below May low
Market Overview: NASDAQ 100 Emini Futures Nasdaq trading range bear bar candlestick closing below last week’s low, but with tails above and below. The week opened at the May low and closed lower for the 1st two days of the week. Wednesday was a trading range day but with bull body in the middle, which means […]
Emini breakout below May, trend channel line overshoot
The S&P 500 Emini futures gapped down and broke below the May low. Bears want a continuation to measured moves below around 3600 and 3450. While the bulls have a trend channel line overshoot, they need at least a micro double bottom or a strong bull reversal bar before they would be willing to buy aggressively.
Nifty 50 wedge bottom and cup & handle
Market Overview: Nifty 50 Futures Nifty 50 wedge bottom with strong bear close this week. Overall structure is climatic and probably a halt expected next week due to wedge bottom. Wedge bottom usually has a double bottom breakout, so bears if want to continue the trend down they would need another bear close next week as […]
DAX failed bull breakout, possible double bottom
Market Overview: DAX 40 Futures DAX failed bull breakout and a possible double bottom. Traders sold the market for the last 2 weeks so we should get a another leg down but it’s at key support so profit taking will take us sideways. If bulls can get a good reversal that might set the trading […]
