Market Overview: EURUSD Forex The weekly chart was a EURUSD consecutive bull bar, testing the trading range high. The bulls need to create follow-through buying above the November 29 high to increase the odds of retesting the July high. The bears want a reversal from a small double top (Nov 29 and Dec 22) and […]
Emini 9-Bar Bull Microchannel
Market Overview: S&P 500 Emini Futures The weekly chart formed an Emini 9-bar bull microchannel which means strong bulls. There may be buyers below the first pullback from such a strong bull microchannel. The bears need to create strong bear bars with follow-through selling to increase the odds of a deeper pullback. S&P500 Emini futures […]
Crude Oil Minor PB
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil minor pb (pullback). The bulls need to continue creating follow-through buying trading above the 20-week EMA and the bear trend line to increase the odds of a reversal. The bears want a retest of the December low and another strong leg down after […]
EURUSD Second Leg Up?
Market Overview: EURUSD Forex The bulls hope that the market is forming a EURUSD second leg up from a higher low major trend reversal. They want a retest and breakout above the trading range high. The bears want at least a small second leg sideways to down to retest the December 8 low. EURUSD Forex […]
Crude Oil Wedge in a Trading Range
Market Overview: Crude Oil Futures The weekly chart formed a Crude Oil wedge in a trading range. If the market trades higher, the bears want a larger second leg sideways to down after the pullback. The bulls hope to get a two-legged sideways to up pullback lasting a couple of weeks. They will need to […]
Emini 8-Bar Bull Microchannel
Market Overview: S&P 500 Emini Futures The weekly chart is forming an Emini 8-bar bull microchannel. That means strong bulls. The bulls will need to create follow-through buying following the breakout above the July 27 high. The bears hope the climactic move will lead to a two-legged sideways to down pullback. S&P500 Emini futures The […]
Emini Strong Spike
Market Overview: S&P 500 Emini Futures The weekly chart formed an Emini strong spike in the form of a 7-bar bull microchannel. The next target for the bulls is the July 27 high. The bears need to create strong bear bars with sustained follow-through selling to increase the odds of a deeper pullback. S&P500 Emini […]
EURUSD Pullback from Wedge
Market Overview: EURUSD Forex The weekly chart formed a EURUSD pullback from wedge testing the 20-week EMA. The bears want a reversal from a wedge bear flag (Oct 12, Nov 3, and Nov 29) and a lower high major trend reversal. The bulls want a reversal from a higher low major trend reversal and the […]
Crude Oil Wedge but Strong Bears
Market Overview: Crude Oil Futures The market formed a Crude Oil wedge on the weekly chart. The bears want a retest of the trading range low and a second leg sideways to down after a larger pullback. The bulls will need to create a couple of strong consecutive bull bars, trading above the 20-week EMA […]
Emini Strong Reversal
Market Overview: S&P 500 Emini Futures The market formed an Emini strong reversal on the Monthly chart, reversing the majority of the selloff of the prior 3 months. The next targets for the bulls are the July 27 high and the all-time high. The bears see the current rally as a retest of the July […]