Market Overview: S&P 500 Emini Futures The weekly candlestick formed was an inside bull doji, forming an Emini breakout mode. The bulls want a breakout above, while the bears want a breakout below the inside bar. For now, odds slightly favor the current sideways to down pullback to be minor and at least a small […]
EURUSD Close below the 20-Week EMA
Market Overview: EURUSD Forex The EURUSD close below the 20-week EMA on the weekly chart. The bears need to create follow-through selling next week to increase the odds of lower prices. The bulls hope that the 20-week exponential moving average will act as support and want at least a small second leg sideways to up to retest […]
Emini Test of the 20-Week EMA
Market Overview: S&P 500 Emini Futures The bears created an Emini test of the 20-week EMA on the weekly chart. They need to create follow-through selling trading far below the 20-week EMA to increase the odds of a reversal down. The bulls see the move down as a minor pullback and want at least a […]
Crude Oil First Pullback below 7-bar Bull MC
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil first pullback below the 7-bar bull microchannel. The bears need to create follow-through selling to increase the odds of the bear leg beginning. The bulls want a retest of the August 10 high followed by a breakout and a measured move up. Crude […]
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 […]
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 […]
Emini Follow-through Selling
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 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 […]
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 […]