Market Overview: Bitcoin Futures Bitcoin futures are trading around major price level, which is the 2017 close. After 5 years of trading at the Chicago Mercantile Exchange, the Bitcoin futures test a price that acted as the hardest resistance before the major bull trend that occurred after COVID-19 crash. Bitcoin futures The Weekly chart of […]
EURUSD No Bull Follow-through Bar
Market Overview: EURUSD Forex EURUSD no bull follow-through bar on the weekly chart. Bulls hope that this is simply a pullback and want at least a small second leg sideways to up after a pullback. Bears want a reversal lower from a failed breakout above a wedge bear flag. They will need to create strong […]
Crude Oil Double Top Bear Flag, Higher Low MTR
Market Overview: Crude Oil Futures The Crude oil futures reversed lower from a crude oil double top bear flag. The bears need to break far below the major bull trend line to increase the odds of lower prices. Bulls want a reversal higher from a higher low MTR (major trend reversal). The major bull trend […]
Emini Wedge Bear Flag, No Follow-through Buying
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures formed an Emini wedge bear flag on the weekly chart. The bulls did not get follow-through buying. The bulls expect at least a small second leg sideways to up after a pullback. The bears need to create strong consecutive bear bars closing near their lows, similar […]
Nifty 50 Possible Pullback
Market Overview: Nifty 50 Futures Nifty 50 possible pullback after the bull breakout of the swing high. The market gave a strong breakout of the swing high with 6 consecutive bull bars, and the market is still in 7-bar bull micro channel. Nifty 50 on the daily chart was in the very strong tight bull […]
Nasdaq 100 Bad Low 2 Sell Signal Bar at Weekly EMA
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures market is pausing at the weekly exponential moving average (EMA) with a bad Low 2 sell signal bar. Last week’s report said that there will likely be sellers at the weekly EMA and depending on the quality of the sell signal could determine whether there […]
DAX 40 Tight Bull Channel, Open Gaps on Weekly Chart
Market Overview: DAX 40 Futures DAX futures moved higher again with a Dax 40 tight bull channel with open gaps. The bulls got follow-through buying high in a trading range and might get a second leg up to the top of the range above. The bears have controlled most of the year so they will […]
FTSE 100 Follow-Through Buying
Market Overview: FTSE 100 Futures The FTSE futures market had follow-through buying after a bear doji. The bears had a chance to sell strongly but could not prevent a second leg sideways to up. Even with a possible micro wedge, it is not a high probability trade to sell here. The bulls want a push to […]
Emini Bulls Want Close above Last Week’s High
Trading Update: Friday November 18, 2022 Emini pre-open market analysis Emini daily chart Emini 5-minute chart and what to expect today Yesterday’s Emini setups Al created the SP500 Emini charts. Here are several reasonable stop entry setups from yesterday. I show each buy entry with a green rectangle and each sell entry with a red […]
Emini Stalled at 4,000 Big Round Number
Trading Update: Thursday November 17, 2022 Emini pre-open market analysis Emini daily chart Emini 5-minute chart and what to expect today Yesterday’s Emini setups Al created the SP500 Emini charts. Here are several reasonable stop entry setups from yesterday. I show each buy entry with a green rectangle and each sell entry with a red […]