Market Overview: Crude Oil Futures Crude Oil pullback to the middle of trading range on the weekly chart. The bulls need to create more follow-through buying trading far above the 20-week EMA to increase the odds of the bull leg beginning. The bears hope to get a retest of the March 5 low after the […]
Weekly Weak Emini Pullback
Market Overview: S&P 500 Emini Futures The market formed a weekly weak Emini pullback, forming an outside bear bar closing near its low. The bears want a retest and breakout below the March 13 low. The bulls want the September or August lows to act as support. S&P500 Emini futures The Weekly S&P 500 Emini […]
Weekly Emini Minor Pullback
Market Overview: S&P 500 Emini Futures The market is forming a weekly Emini minor pullback. The bulls must create consecutive bull bars closing near their highs to show they are back in control. The bears want the pullback to be weak and sideways (overlapping candlesticks, doji(s), bear bars, long tails above candlesticks). S&P500 Emini futures […]
Crude Oil Bulls Need Follow-through Buying
Market Overview: Crude Oil Futures The Crude Oil bulls need follow-through buying trading back above the 20-week EMA. They want the bull leg within the trading range to begin. The bears want the bear trend line or the 20-week EMA to act as resistance. Crude oil futures The Weekly crude oil chart The Daily crude […]
Weekly EURUSD Micro Wedge
Market Overview: EURUSD Forex The market formed a weekly EURUSD micro wedge around the November 6 high. The bears must create strong follow-through selling to increase the odds of a deep pullback. The bulls want any pullback weak and sideways (overlapping candlesticks, doji(s), bull bars). EURUSD Forex market The Weekly EURUSD chart The Daily EURUSD […]
EURUSD Bulls Want Follow-through Buying
Market Overview: EURUSD Forex The EURUSD bulls want follow-through buying to retest the top of the trading range (Aug/Sep highs). The bears hope the market will stall around the middle of the trading range and form a lower high. The move is strong enough for traders to expect at least a small second leg sideways […]
Weaker Crude Oil Bear Leg
Market Overview: Crude Oil Futures The market formed a weaker Crude Oil bear leg testing the November low area. The bears hope to get a retest of the November 18 low followed by a breakout to test the trading range low. The bulls hope the November low area or the lower third of the trading […]
Weekly Emini Parabolic Wedge
Market Overview: S&P 500 Emini Futures The market formed a weekly Emini parabolic wedge (Feb 28, Mar 7, and Mar 13). The bulls see the market as being in a broad bull channel and want the pullback to form a higher low. If the market trades higher, the bears want the January 13 low, the […]
Weekly Emini Bear Breakout
Market Overview: S&P 500 Emini Futures The market formed a weekly Emini bear breakout below the 23-week trading range. The bulls want a reversal from a double bottom bull flag (Jan 13 and Mar 7) or a wedge bull flag (Nov 4, Jan 13, and Feb 28). The bears must create follow-through selling following this […]
Crude Oil Large Second Leg Sideways to Down
Market Overview: Crude Oil Futures The market formed a Crude Oil large second leg sideways to down on the weekly chart. The bears must continue to create follow-through selling to increase the odds of breaking below the November 18 low. The bulls hope the lower third of the trading range will be an area of […]
