Market Overview: Crude Oil Futures The Crude Oil bulls need follow-through buying following this week’s breakout above the bear trend line. They also need to create a breakout above the expanding triangle top. The bears want a reversal from a lower high major trend reversal, from a double top bear flag (May 29 and Jun […]
Emini Micro Wedge
Market Overview: S&P 500 Emini Futures The weekly chart formed an Emini micro wedge (Jun 7, Jun 12, and Jun 21). The problem with the bear’s case is that they have not been able to create strong bear bars with sustained follow-through selling. The bears need to create a strong entry bar with follow-through selling […]
Emini Sideways to Up
Market Overview: S&P 500 Emini Futures The market formed an Emini sideways to up breaking into new high territory. The bulls want to get another strong leg up completing the wedge pattern with the first two legs being July 27 and March 21. The third leg up is currently underway. If the market trades higher, the bears want a micro wedge to form […]
Weekly Crude Oil Pullback
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil pullback to the middle of the trading range on the weekly chart. The bulls want a retest of the April 12 high after the current pullback and the bull trend line to act as support. The bears want the 20-week EMA and the bear trend line to […]
EURUSD Bears Need Follow-through
Market Overview: EURUSD Forex The EURUSD bears need follow-through selling following this week’s bear bar closing below the 20-week EMA. The bulls want a reversal from a higher low major trend reversal or a double bottom with the April low. The EURUSD is trading near the lower third of the smaller trading range which can […]
Weekly EURUSD Double Top Bear Flag
Market Overview: EURUSD Forex The market formed a weekly EURUSD double top bear flag (Apr 9 and May 16). The bears want a reversal from a double top bear flag and a small double top (May 16 and Jun 4). If there is a deeper pullback, the bulls want a reversal from a higher low major trend […]
Weak Crude Oil Breakout
Market Overview: Crude Oil Futures The weekly chart formed a weak Crude Oil breakout from the small expanding triangle. The bulls want the 20-week EMA or the bull trend line to act as support. They want a failed breakout below the bull trend line. The bears need to create follow-through selling trading far below the […]
Weekly Emini Higher High MTR
Market Overview: S&P 500 Emini Futures The market formed a weekly Emini higher high MTR (major trend reversal) pattern. The bulls need to create a follow-through bull bar to confirm the breakout above the all-time high, even if it is only a bull doji. The bears need to create a few strong bear bars to increase the […]
Emini Buyers below the First Pullback
Market Overview: S&P 500 Emini Futures There were Emini buyers below the first pullback on the monthly chart. The bulls hope to get another strong leg up completing the wedge pattern with the first two legs being July 27 and March 21. The bears want a reversal from a higher high major trend reversal and a large wedge pattern (Dec 2, July 27, and March 21). S&P500 […]
Weekly Crude Oil Tight Trading Range
Market Overview: Crude Oil Futures The market formed a weekly Crude Oil tight trading range in the form of 4 overlapping candlesticks. The bears see the tight trading range simply as a sideways pullback and want another strong leg down. The bulls want the 20-week EMA or the bull trend line to act as support. […]
