Market Overview: Crude Oil Futures The Crude oil futures weekly chart formed a Crude Oil wedge bull flag in a trading range. The weekly candlestick was a bull bar closing near the high. The bulls want a retest followed by a breakout above the 15-week trading range high. The bears got a reversal down from a wedge […]
EURUSD Bear Reversal Bar
Market Overview: EURUSD Forex The EURUSD Forex February monthly candlestick was a EURUSD bear reversal bar. The bears want this to be the start of the deeper pullback. Odds slightly favor the 6-bar bull micro channel streak to end soon. The bulls want any pullback to be shallow and sideways. If they get that, the […]
Emini Higher Low, Strong Bull Bar
Market Overview: S&P 500 Emini Futures The weekly chart was a strong bull bar and the bulls hope that the S&P 500 Emini futures market is forming a higher low followed by another strong leg up. The bulls will need to create strong follow-through buying to increase the odds of a retest of the February 2 high. […]
Crude Oil Weak Follow-through Selling
Market Overview: Crude Oil Futures The Crude oil futures bears got a weak follow-through selling on the weekly chart. They hope that this week was simply a pullback and want another leg down breaking below Jan/Feb lows. The bulls want a reversal up from a wedge bull flag and a higher low major trend reversal. […]
Emini Follow-through Bear Bar
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures weekly candlestick was a follow-through bear bar after last week’s break below the inside doji. The bears need to create consecutive bear bars closing near their lows to increase the odds of lower prices. The bulls hope the pullback will result in a higher low and […]
EURUSD Pullback to the 20-Week EMA
Market Overview: EURUSD Forex The EURUSD Forex weekly chart bears got a pullback to the 20-week EMA (exponential moving average). The bears want a continuation down to the January 6 low or the November 21 low which was the start of the bull channel. The bulls want a reversal higher from a double bottom with […]
EURUSD Outside Bull Doji
Market Overview: EURUSD Forex The EURUSD Forex weekly candlestick was an outside bull doji. Bulls want a continuation of the bull channel up, while the bears want a test of the 20-week exponential moving average and the January 6 low. The bulls want any pullback to be sideways and not deep. If the pullback is […]
Weekend Emini Consecutive Dojis
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures weekly chart formed a pair of Emini consecutive dojis. There are often buyers below the first pullback from a strong channel up like the tight 8-bar bull micro channel. The bulls hope to get at least a retest of February high. The bears need […]
Weekend Crude Oil 13-week Trading Range
Market Overview: Crude Oil Futures The Crude oil futures market is in a 13-week trading range. Poor follow-through and reversals are more likely within a trading range. Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction. If the bears get follow-through selling next week, it will increase the odds of a […]
Emini Bear Doji Pullback
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures was a bear doji pullback on the weekly chart. The bulls have an 8-bar bull micro channel which may be broken soon. However, the first breakout below such a strong micro channel often is minor. The bears want a reversal lower from a higher […]