Trading Update: Friday June 10, 2022 Emini pre-open market analysis Emini daily chart Emini bulls gave up yesterday on the idea of a second leg up from the May 27 bull breakout without first having a deep pullback. The bears want follow-through after give-up bar yesterday. The bulls had several chances following the three-bar breakout […]
Emini bears want breakout below 8-bar tight trading range
Trading Update: Thursday June 9, 2022 Emini pre-open market analysis Emini daily chart The bulls have had several strong trend bars closing near their highs. However, every bull trend bar in the current 8-bar tight trading range has been followed by a bear bar. This is a reminder of all the trading range price action. […]
Emini bulls want 2nd leg up from May 27 breakout
Trading Update: Wednesday June 8, 2022 Emini pre-open market analysis Emini daily chart Yesterday was a strong bull close that reversed up from near the lows of the 6-bar tight trading range. This might be the start of a second leg up from the May 27 bull breakout. Emini bulls want 2nd leg up. The […]
Emini possible bear breakout below 6-day tight trading range
Trading Update: Tuesday June 7, 2022 Emini pre-open market analysis Emini daily chart The market is in a 6-bar tight trading range following the three-bar bull breakout on May 27, and possible bear breakout. This has lowered the probability of bulls getting a measured move up of the 3-bar breakout before getting a deep pullback. […]
Emini will likely test April 18 low this month
Trading Update: Monday June 6, 2022 Emini pre-open market analysis Emini daily chart (brief update) The bulls have a second entry short following the three consecutive bull bar rally up to May 27. This is a reminder that the overall market is in a trading range. The bears are still hopeful that the three bull […]
Emini bulls need follow through today
Trading Update: Friday June 3, 2022 Emini pre-open market analysis Emini daily chart Yesterday was a strong bull breakout for the bulls, closing above the high of the past three days. The bulls need follow through today to convince traders this is the start of a strong second leg up. More likely, the bulls will […]
Emini bears hopeful for 2nd leg trap
Trading Update: Wednesday June 1, 2022 Emini pre-open market analysis Emini daily chart Emini bears hopeful for 2nd leg trap, wanting a three-bar bull bar rally up to May 27 and a test of the May 25 low. Bulls see the three consecutive bull bars up to May 27 as a strong enough bull breakout […]
Emini possible measured move up and test of April 18 low
Trading Update: Wednesday June 1, 2022 Emini pre-open market analysis Emini daily chart The three consecutive bull breakout bars are strong enough for a second leg up and possible measured move up that would project to around the April 18 low. Bears hope that the three consecutive bull bars are a 2nd leg trap that […]
Emini closed above 9-month trading range low
Trading Update: Tuesday May 31, 2022 Emini pre-open market analysis Emini daily chart The market closed above the 9-month trading range low last Friday, creating a failed bear breakout. The odds are the market will test the middle of the 9-month trading range sometime soon. The bulls got a strong bull breakout above the 20-period […]
Emini bulls likely disappointment today
Trading Update: Friday May 27, 2022 Emini pre-open market analysis Emini daily chart The market reached the May 2nd low (4,056) and will probably get to the February 24th low (4,094.50) soon. The bulls probably need one more strong bull trend bar to convince traders that the bulls have regained control as they did on […]
