Emini and Forex Trading Update:Monday August 5, 2019 I will update again at the end of the day. Pre-Open market analysis Last week’s bar on the weekly chart was surprisingly big. A Bear Surprise Bar typically has at least a small 2nd leg sideways to down. However, after the 8 week bull micro channel, this […]
Emini strong minor reversal after July Fed interest rate cut
Market Overview: Weekend Market Update The Emini had its 1st pullback on the weekly chart in 8 weeks. The selloff will probably last at least a couple more weeks and end between 2800 and 2900. The 30 year Treasury Bond Futures market is continuing up from the October low. The rally is a test of […]
Emini reversal down to 2900 within 2 weeks after July FOMC
Emini and Forex Trading Update:Friday August 2, 2019 I will update again at the end of the day. Pre-Open market analysis After Wednesday’s big bear trend day, yesterday rallied strongly and it erased most of the selloff. However, it then sold of sharply after a Leg 1 = Leg 2 measured move up to Wednesday’s […]
Emini profit taking after first interest rate cut in 11 years
Emini and Forex Trading Update:Thursday August 1, 2019 I will update again at the end of the day. Pre-Open market analysis The Emini crashed on the 5 minute chart yesterday after the FOMC announcement, but reversed up and undid much of the selling. It has been oscillating around 3,000 for a month, and yesterday’s bounce […]
Emini consecutive wedge tops ahead of today’s July FOMC announcement
Emini and Forex Trading Update:Wednesday July 31, 2019 I will update again at the end of the day. Pre-Open market analysis After a gap down yesterday, the Emini rallied to Monday’s low and entered a trading range. A late rally failed and the day ended back in the earlier trading range. The Emini is in […]
Emini wedge top ahead of July FOMC announcement tomorrow
Emini and Forex Trading Update:Tuesday July 30, 2019 I will update again at the end of the day. Pre-Open market analysis Yesterday sold off on the open but reversed up weakly from the 60 minute EMA. It then formed a trading range day. It was a triangle on the 5 minute chart and that is […]
Emini continued buy climax ahead of Wednesday’s July FOMC
Emini and Forex Trading Update:Monday July 29, 2019 I will update again at the end of the day. Pre-Open market analysis The Emini made a new all-time high again on Friday. However, there is a potential small wedge rally on the daily chart that began with the July 18 low. It is nested within a […]
Emini bull micro channel and expanding triangle before FOMC
Market Overview: Weekend Market Update The Emini has an 8 week bull micro channel on the weekly chart ahead of Wednesday’s FOMC meeting. This is a buy climax and makes a pullback likely within a couple weeks. Crude oil is at the apex of a 9 month triangle. It might have to fall below last […]
Emini double top and parabolic wedge buy climax above 3000
Emini and Forex Trading Update:Friday July 26, 2019 I will update again at the end of the day. Pre-Open market analysis The Emini repeated its pattern from last week of strongly reversing trend days. Yesterday totally reversed Wednesday’s rally. Yesterday now is a double top with last week’s high. Nothing has changed. The month-long wedge […]
Emini pullback soon from wedge top or final bull flag
Emini and Forex Trading Update:Thursday July 25, 2019 I will update again at the end of the day. Pre-Open market analysis Yesterday rallied to another all-time high. It closed on its high after a strong rally and therefore there is an increased chance of a gap up today. But since yesterday was a buy climax, […]
