Market Overview: S&P 500 Emini Futures The bears got S&P 500 Emini follow-through selling on the weekly chart. The minor pullback phase has likely begun. A reasonable target for the bears is the 20-week exponential moving average. The bulls want the pullback to be weak and sideways, followed by a retest of the recent extreme […]
Crude Oil 7-Bar Bull Microchannel, Bull Leg
Market Overview: Crude Oil Futures The market formed a Crude Oil 7-bar bull microchannel on the weekly chart. That means strong bulls and increases the odds that the first pullback will be minor. The bears want the market to stall around the 38-week trading range high and for the bear leg to begin. Crude oil […]
EURUSD Wedge Top, PB
Market Overview: EURUSD Forex The bears want a reversal down from a EURUSD Wedge Top and a failed breakout above the April high. They need to continue creating consecutive bear bars, breaking far below the 20-week exponential moving average to increase the odds of a reversal down. The bulls want the 20-week exponential moving average […]
EURUSD Broad Bull Channel
Market Overview: EURUSD Forex The last 7 candlesticks (monthly chart) have a lot of overlapping ranges but are sloping slightly up – the market is in a EURUSD broad bull channel following a bull spike from November. The bulls want a strong breakout above the April high followed by a few months of sideways to […]
Crude Oil Bull Microchannel
Market Overview: Crude Oil Futures The market formed a 6-bar Crude Oil Bull Microchannel on the weekly chart. It is a strong bull leg which increases the odds of buyers below the first pullback. The bulls want a breakout above the trading range high (April high). The bears want the market to stall around the […]
Emini Possible Minor Pullback
Market Overview: S&P 500 Emini Futures Is this the start of an Emini minor pullback? The bears will need to create consecutive strong bear bars closing near their lows to convince traders that a deeper pullback could be underway. The bulls want any pullback to be shallow and weak (with overlapping bars, doji(s) and bull […]
Emini Tight Bull Channel
Market Overview: S&P 500 Emini Futures The market formed an Emini tight bull channel with the bears not being able to create credible selling pressure. If there is a pullback, the bulls want the pullback to be sideways and weak. The bears hope to get at least a deeper pullback from an extended and climactic […]
Crude Oil Strong Bull Leg
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil strong bull leg in the form of a 5-bar bull microchannel. The bulls want a retest and breakout above the trading range high (April high). The bears want the market to stall around the trading range high area and reverse lower. Crude oil […]
EURUSD Failed Breakout or Pullback?
Market Overview: EURUSD Forex Is the weekly chart forming a EURUSD failed breakout or a pullback? The bulls hope the last two weeks were simply a pullback and want at least a small retest of the prior leg extreme (Jul 18). The bears want a reversal down from a wedge top, a trend channel line overshoot and […]
EURUSD Failed Breakout?
Market Overview: EURUSD Forex The market traded higher but reversed to close as a bear bar forming a possible EURUSD Failed Breakout. The bears will need to create follow-through selling to increase the odds of a deeper pullback. The bulls hope that the move down is simply a breakout test of the April high (breakout […]
