Emini and Forex Trading Update:Monday June 3, 2019 I will update again at the end of the day. Pre-Open market analysis Today is the 1st day of June. May was an outside down month and a double top. The bears want June to trade below the May low to trigger the monthly sell signal. If […]
Emini selloff to February gap and maybe 10% correction
Market Overview: Weekend Market Update The Emini selloff is in search of a bottom of its 5 week bear leg in its 18 month trading range. A reasonable target is the gap above the February 11 high. Also, a 50% retracement of the 2019 rally would be about a 10% correction. The bulls will then […]
Emini breakout below March-May head and shoulders top
Emini and Forex Trading Update:Friday May 31, 2019 I will update again at the end of the day. Pre-Open market analysis The Emini sold off yesterday from above Wednesday’s high and below last week’s low. However, it reversed up late in the day from a wedge higher low. This follows Wednesday’s higher low major trend […]
Emini breakout below March-May head and shoulders top
Emini and Forex Trading Update:Thursday May 30, 2019 I will update again at the end of the day. Pre-Open market analysis The Emini gapped down and sold off yesterday, but reversed up midday from the 200 day MA. The bulls hope that the break below 2800 and the bottom of the 3 month trading range […]
Emini breaking below March-May head and shoulders top
Emini and Forex Trading Update:Wednesday May 29,2019 I will update again at the end of the day. Pre-Open market analysis Yesterday began a break below the neck line of a 3 month head and shoulders top. If today is a big bear trend day, the odds will favor a closure of the gap above the […]
Emini testing neck line of head and shoulders top
Emini and Forex Trading Update:Tuesday May 28, 2019 I will update again at the end of the day. Pre-Open market analysis The Emini sold off on Thursday and had a bear follow-through bar on Friday. The bears hope that the selloff will break below the May 13 low, which is the neck line of a […]
Emini head and shoulders top target is 2650
Market Overview: Weekend Market Update The Emini has been sideways for 4 weeks. It might have begun its 2nd leg down from its 4 month buy climax. There is a 40% chance of a head and shoulders top measured move down to 2650. Crude oil had a surprisingly big bear breakout this week. The odds […]
Emini breakout below May triangle after big double top
Emini and Forex Trading Update:Friday May 24, 2019 I will update again at the end of the day. Pre-Open market analysis The Emini sold off in a bear channel yesterday. It broke below the 2 week triangle on the daily and 60 minute charts. If the bears get follow-through selling over the next few days, […]
Emini small triangle and head and shoulder bottom
Emini and Forex Trading Update:Thursday May 23, 2019 I will update again at the end of the day. Pre-Open market analysis The daily chart is at the apex of a 2 week triangle. That is a neutral pattern. Yet, there have been 7 consecutive bull bars on the daily chart. This is unusual when a […]
Emini buying pressure in 3 week correction
Emini and Forex Trading Update:Wednesday May 22, 2019 I will update again at the end of the day. Pre-Open market analysis The Emini formed a sixth consecutive bull trend bar yesterday on the daily chart. That is unusual because it has been in a trading range for 2 weeks. Normally, there would be a bear […]
