The market formed a monthly EURUSD wedge pattern (Apr 21, Jul 1, and Sept 17). The bears want the bear trend line and the upper third of the multi-year trading range to be areas of resistance. The bulls want a retest of the September 17 high, even if it only forms a lower high. If […]
E-mini 4-Bar Bull Microchannel
Market Overview: S&P 500 E-mini Futures The market is forming a S&P 500 E-mini 4-bar bull microchannel on the weekly chart. The bulls want any pullback to be weak and sideways (overlapping and long tails below candlesticks, weak bear bars). The bears want a reversal from a wedge pattern (May 19, Jul 31, and Sep […]
No Weekly Follow-through Selling in Crude Oil
Market Overview: Crude Oil Futures There was no weekly follow-through selling in Crude oil futures and the market reversed above the 20-week EMA. The bulls must create strong follow-through buying above the 20-week EMA and the bear trend line to show they are back in control. The bears view the current move as a pullback, […]
Minor EURUSD Pullback
Market Overview: EURUSD Forex The market is forming a minor EURUSD pullback on the weekly chart. The bears must create consecutive bear bars closing near their lows, breaking far below the 20-week EMA, to increase the odds of a reversal. The bulls want the 20-week EMA or the August 1 low to act as support, […]
Large Crude Oil Wedge Bear Flag
Market Overview: Crude Oil Futures The market formed a large Crude oil wedge bear flag on the weekly chart. The bears must create strong follow-through selling, trading far below the 20-week EMA and the August 13 low to increase the odds of testing the trading range low. The bulls want a reversal from a large […]
Strong E-mini Buying Pressure
Market Overview: S&P 500 E-mini Futures The market is showing strong E-mini buying pressure on the weekly chart. The next targets for the bulls are the 6800 and 6900 levels. The bears must create consecutive bear bars closing near their lows to show they are back in control. S&P500 E-mini futures The Weekly S&P 500 […]
Weak Weekly EURUSD Breakout
Market Overview: EURUSD Forex The market formed a weak weekly EURUSD breakout above the July 1 high. The bulls need to create strong follow-through buying trading above the July 1 high to increase the odds of a resumption of the trend. The bears want a reversal from a higher high major trend reversal and a […]
EURUSD Bulls Need Strong Follow-through Buying
Market Overview: EURUSD Forex The EURUSD bulls need strong follow-through buying trading above the July 24 and July 1 highs to increase the odds of a resumption of the trend. The bears want a reversal from a lower high major trend reversal or a double top bear flag (Jul 24 and Sept 9). EURUSD Forex […]
Weekly Crude Oil Bears Need Follow-through Selling
Market Overview: Crude Oil Futures The weekly Crude oil bears need follow-through selling below the August 13 low. They see this week as a pullback and want the 20-week EMA and the bear trend line to act as resistance. The bulls hope the 20-week EMA or the August 13 low area will act as support. […]
E-mini Third Leg Up
Market Overview: S&P 500 E-mini Futures The market is forming an S&P 500 E-mini third leg up. The bulls want a Leg 1 = Leg 2 move, which will take the market to the 6800 area (Leg 1 being the Apr 21 low to the May 19 high). The bears must create consecutive bear bars […]
