Market Overview: Weekend Market Update The Emini has a nested double top, but a minor reversal to below the 2940 ledge top is more likely than a bear trend. Crude oil had a brief rally and then reversal down this week. The rally was strong enough. The rally was strong enough to make at least […]
Emini minor double top just below July all time high
Emini and Forex Trading Update:Friday September 20, 2019 I will update again at the end of the day. Pre-Open market analysis Yesterday rallied to a wedge top that reversed down from above last week’s high. The rally got to within 7 points of the all-time high. Yesterday closed near its low and it is a […]
Emini minor reversal down after September FOMC rate cut
Emini and Forex Trading Update:Thursday September 19, 2019 I will update again at the end of the day. Pre-Open market analysis The Emini sold off after the FOMC announcement yesterday to below Tuesday’s low. It then rallied to above Tuesday’s high. Yesterday was therefore an outside up day. That is a sign of strong bulls. […]
Emini awaiting today’s September FOMC interest rate announcement
Emini and Forex Trading Update:Wednesday September 18, 2019 I will update again at the end of the day. Pre-Open market analysis Th Emini has mostly trading range trading for 2 weeks. At 11 am PST today, the Fed will make its September FOMC interest rate announcement. This will probably affect the market for the rest […]
Emini stalling at July all time high before tomorrow’s FOMC
Emini and Forex Trading Update:Tuesday September 17, 2019 I will update again at the end of the day. Pre-Open market analysis Yesterday triggered a sell signal on the daily chart by going below Friday’s low. There has been a wedge rally over the past 3 weeks. The bears also hope for a reversal down from […]
Emini wedge rally testing July all time high so pullback likely
Emini and Forex Trading Update:Monday September 16, 2019 I will update again at the end of the day. Pre-Open market analysis The Emini stalled on Thursday and Friday just below the all-time high. In addition, the 3 week rally has had 3 legs and it is therefore a wedge. This makes a 1 – 3 […]
Emini breakout above August ledge top but pullback likely
Market Overview: Weekend Market Update The Emini daily chart has a wedge rally that is testing the all-time high. Friday is a sell signal for a minor reversal down. The 30 year Treasury bond futures weekly chart has a parabolic wedge top, which is also a Low 4 Top. It will trade sideways to down […]
Emini wedge rally testing July all time high
Emini and Forex Trading Update:Friday September 13, 2019 I will update again at the end of the day. Pre-Open market analysis Yesterday again gapped up, sold off, and reversed up from near the EMA. But, as was likely, yesterday was a trading range day. The bulls are trying to get a new all-time high this […]
Emini lower high but closed above 3000 Big Round Number
Emini and Forex Trading Update:Thursday September 12, 2019 I will update again at the end of the day. Pre-Open market analysis Yesterday was a Small Pullback Bull trend. It broke above the 4 day tight trading range and closed above the 3,000 Big Round Number. The Emini will probably make a new high within a […]
Emini testing August ledge top and might form island top
Emini and Forex Trading Update:Wednesday September 11, 2019 I will update again at the end of the day. Pre-Open market analysis Yesterday pulled back but closed on its high in a bull trend on the daily chart. It is therefore a High 1 bull flag buy signal bar for today. But, yesterday was the 4th […]
