Trading Update: Thursday June 16, 2022 Emini pre-open market analysis Emini daily chart The bulls got a reversal up yesterday; however, they probably need at least a micro double bottom which means the bears likely second leg down will follow. Market formed a bull bar yesterday, ending the streak of 5 consecutive bear bars on […]
Emini bulls want rally after today’s FOMC report
Trading Update: Wednesday June 15, 2022 Emini pre-open market analysis Emini daily chart Today is a FOMC report day, so there is the potential for a big move up or down at 11:00 PT. Bulls want rally after report. The bears have five consecutive bear bars on the daily chart, so the first reversal up […]
Emini bears trying hard to reach targets below
Trading Update: Tuesday June 14, 2022 Emini pre-open market analysis Emini daily chart Emini bears got a close below the May 20 low and are trying hard to reach targets below, the measured move. The odds are today will have a close above the open and end the streak of consecutive bear closes. The bears […]
Emini testing 3,800 big round number — a 20% correction
Trading Update: Monday June 13, 2022 Emini pre-open market analysis Emini daily chart Emini testing 3,800 big round number and is currently deciding if it needs to go lower to find buyers. The 3,800 level is a 20% correction from the all-time high, attracting long-term buyers. These buyers are value investors and will be happy […]
Nasdaq big weekly bear reversal
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures weekly candlestick is a big weekly bear reversal bar closing on its low. This week completely reversed the bull bar from two weeks ago. The week started by continuing the tight trading range from last week. Wednesday was a Low 2 sell signal bar, which […]
EURUSD second leg sideways to down
The EURUSD Forex stalled around the April low which was the last breakout point. The bears are now getting the second leg sideways to down that they were expecting. The bulls hope the sell-off this week was simply a sell vacuum test of the low. Odds slightly favor sideways to down next week. Bears want a follow-through bear bar while the bulls want a bull bar even though the EURUSD may trade lower first.
Emini sell vacuum retest of 5/20 low
The S&P 500 Emini futures stalled around the Feb/March low and the bulls failed to get follow-through buying. The bears got the second leg sideways to down they were expecting. Odds favor at least slightly lower prices next week. As strong as the sell-off is, it could simply be a sell vacuum test of the 5 weeks trading range low. If there is a breakout, odds slightly favor a downside breakout more.
Nifty 50 futures strong bear close after double bottom
Market Overview: Nifty 50 Futures The Nifty 50 futures have given strong bear close after double bottom, but the best bears can get would be a trading range, so bulls would be again looking to buy near the trading range bottom. Nifty 50 on the daily chart is in a broad bear channel which are always a […]
DAX 40 bear surprise at 20-week moving average
DAX 40 bear surprise last week at the 20-week moving average (MA). The bears got a successful moving-average gap bar sell signal at a double-top. Now we are sitting at the 200-week moving average. It’s not as bearish as it could be because we didn’t create a new low and the bulls will look to […]
FTSE 100 bear surprise, micro double top
Market Overview: FTSE 100 Futures FTSE 100 bear surprise from a Micro Double Top (Micro DT) pausing at the 50-week moving average (MA). Once again the bulls failed and market made a lower high, so it’s a major trend reversal and traders will expect two legs sideways to down. We might have had the first […]
