The EURUSD Forex re-tested the low and the bears got a weak follow-through bar on the weekly chart. The bears want a breakout below the May low followed by a measured move down based on the height of the 7-year trading range. The bulls want a reversal higher from a double bottom major trend reversal following the trend channel line overshoot and wedge bottom.
Nasdaq trading range bear bar closing below May low
Market Overview: NASDAQ 100 Emini Futures Nasdaq trading range bear bar candlestick closing below last week’s low, but with tails above and below. The week opened at the May low and closed lower for the 1st two days of the week. Wednesday was a trading range day but with bull body in the middle, which means […]
Emini breakout below May, trend channel line overshoot
The S&P 500 Emini futures gapped down and broke below the May low. Bears want a continuation to measured moves below around 3600 and 3450. While the bulls have a trend channel line overshoot, they need at least a micro double bottom or a strong bull reversal bar before they would be willing to buy aggressively.
Nifty 50 wedge bottom and cup & handle
Market Overview: Nifty 50 Futures Nifty 50 wedge bottom with strong bear close this week. Overall structure is climatic and probably a halt expected next week due to wedge bottom. Wedge bottom usually has a double bottom breakout, so bears if want to continue the trend down they would need another bear close next week as […]
DAX failed bull breakout, possible double bottom
Market Overview: DAX 40 Futures DAX failed bull breakout and a possible double bottom. Traders sold the market for the last 2 weeks so we should get a another leg down but it’s at key support so profit taking will take us sideways. If bulls can get a good reversal that might set the trading […]
FTSE Always in Short at bottom of trading range
Market Overview: FTSE 100 Futures FTSE always in short at the bottom of a trading range. It could be a sell climax down to the big round number of 7000. The bulls see we are at the bottom of a trading range and will look to scale in short. The bears see we broke down […]
Emini likely to try and rally 200 points soon
Trading Update: Friday June 17, 2022 Emini pre-open market analysis Emini daily chart The Emini is likely to try and rally 200 points soon. Yesterday was a big outside down day and was a second leg from last week’s selloff. Now that the bulls have a second leg down. As strong as yesterday was, the […]
Emini bears likely second leg down
Trading Update: Thursday June 16, 2022 Emini pre-open market analysis Emini daily chart The bulls got a reversal up yesterday; however, they probably need at least a micro double bottom which means the bears likely second leg down will follow. Market formed a bull bar yesterday, ending the streak of 5 consecutive bear bars on […]
Emini bulls want rally after today’s FOMC report
Trading Update: Wednesday June 15, 2022 Emini pre-open market analysis Emini daily chart Today is a FOMC report day, so there is the potential for a big move up or down at 11:00 PT. Bulls want rally after report. The bears have five consecutive bear bars on the daily chart, so the first reversal up […]
Emini bears trying hard to reach targets below
Trading Update: Tuesday June 14, 2022 Emini pre-open market analysis Emini daily chart Emini bears got a close below the May 20 low and are trying hard to reach targets below, the measured move. The odds are today will have a close above the open and end the streak of consecutive bear closes. The bears […]
