Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures follow through after ioi (inside-outside-inside) breakout pattern last week. However, the bulls have not yet been able to break above the February 2 high. Buying at the top of a trading range (before a confirmed breakout with follow-through buying) is not an ideal setup. […]
EURUSD Tight Bear Channel
Market Overview: EURUSD Forex The EURUSD Forex formed a EURUSD tight bear channel closing below the 20-week exponential moving average (EMA). The bears want follow-through selling next week. If they get that, it increases the odds of a deeper pullback beginning. The bulls want the 20-week EMA to act as support and hope the market will reverse […]
Crude Oil Sideways Trading Range
Market Overview: Crude Oil Futures Crude Oil sideways trading range formed in the last 3 weeks. The bulls want a reversal from a double bottom (Mar 20 and May 4) and a higher low major trend reversal (May 15). The bears want another leg down testing the May 4 low. The market is in a 27-week […]
EURUSD Pullback to 20-Week EMA
Market Overview: EURUSD Forex The EURUSD Forex pullback to the 20-week EMA (exponential moving average) on the weekly chart. The bears got follow-through selling following last week’s big bear bar. They want a retest of the March low. The bulls hope to get at least a retest of the April high after the current pullback. They want […]
Crude Oil 6-bar Bear Micro Channel
Market Overview: Crude Oil Futures The Crude oil futures is still in the bear leg forming a 6-bar bear micro channel on the weekly chart. The bears hope that this week was simply a pullback and want a retest of the May 4 low. The bulls will need to create a follow-through bull bar to […]
Emini Breakout above ioi
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures bulls got a breakout above ioi (inside-outside-inside) pattern this week. They need to create follow-through buying next week breaking far above the February 2 high to increase the odds of higher prices. The bears want a reversal down from a failed breakout above the […]
Emini ioi Pattern (inside-outside-inside)
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures formed an an Emini ioi pattern (inside-outside-inside) on the weekly chart which means the market is in a breakout mode. However, the market is also in a 6-week tight trading range and the Emini is currently trading around the middle of it which is […]
Crude Oil Bear Leg within Trading Range
Market Overview: Crude Oil Futures The Crude oil futures formed a crude oil bear leg testing the March low. The bulls hope that the move is simply a sell vacuum and wants a reversal higher from a double bottom and a lower low major trend reversal. The bears want a strong breakout below the March […]
EURUSD Big Bear Bar
The EURUSD Forex formed a EURUSD big bear bar on the weekly chart. It is likely the start of the pullback phase following the bull’s repeated failed breakout above the February 2 high. The next targets for the bears are the 20-week exponential moving average and the March low. The bulls hope the 20-week exponential moving average […]
Emini Double Bottom at 20-Week EMA
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures formed an Emini double bottom at the 20-week exponential moving average. So far, the pullback in the Emini has gone sideways. The bears are not yet strong. The bulls want a strong breakout above February 2 high followed by a measured move up using […]