Trading Update: Friday July 1, 2022 Emini pre-open market analysis Emini daily chart Yesterday was a small doji bar which is disappointing to the bears on the daily chart. Emini bulls likely higher low favored with second leg up testing the June 28 high. Bulls want a break above the June 28 high and test […]
Trading Update: Thursday June 30, 2022 Emini pre-open market analysis Emini daily chart Emini bears got a small follow-through bar yesterday. However, the follow-through bar was a doji and a reminder that the market is likely in a trading range, with bears likely disappointment around 3,800 (midpoint of the June 27 rally). Bulls will try […]
Trading Update: Wednesday June 29, 2022 Emini pre-open market analysis Emini daily chart The bulls will see yesterday as a pullback and want a second leg up test of 4,000. Yesterday was outside down surprise breakout bar. It is probably a strong enough surprise to have at least a small 2nd leg down. However, it […]
Trading Update: Tuesday June 28, 2022 Emini pre-open market analysis Emini daily chart Emini bulls had a strong breakout last Friday (6/24); however, the breakout led to bad follow-through in the form of a weak bear bar. At the moment, the odds favor a second leg up from the June 24th rally and test of […]
Trading Update: Monday June 27, 2022 Emini pre-open market analysis Emini daily chart Bulls successfully closed above 3,900 on Friday. The bulls need follow-through for test of the June high and 4,200. At the moment, the market is close enough to 4,000 that it will probably have to test that price level soon. The market […]
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures weekly candle is a strong bull bar closing near its high. It’s a Nasdaq 100 failed breakout below the May low. Every day of the week was a bull bar, although they had tails indicating trading range price action. Friday was a strong bull day. […]
Market Overview: Bitcoin Futures Bitcoin second bear leg in trading range developing within a bear channel, down 70% from the highs and currently testing a major support: the previous Breakout Point, which happens to be the prior all-time high. This week we have seen some bears buying below the biggest bear bar late in a […]
The S&P 500 Emini futures reversed higher from a trend channel line overshoot and a wedge bottom. The bears failed to create follow-through selling below May low on the weekly chart. The bulls want a reversal higher from a trend channel line overshoot and a wedge bottom. The bulls will need to create follow-through buying next week to convince traders that a reversal higher may be underway.
The EURUSD Forex is in a 9-weeks sideways trading range. The bulls want a reversal from a double bottom (May 13 and Jun 15) following a trend channel line overshoot and a wedge bottom (Aug 20, Nov 24 and May 13). They need to create follow-through buying next week to convince traders that a reversal higher may be underway. The bears want the EURUSD to stall around or below the May 20 high, the bear trend line, or the 20-week exponential moving average and a re-test of the low.
Market Overview: FTSE 100 Futures The FTSE futures market reversed up strongly with a bull surprise bar at support. It was the end of a measured move for the bears and you can see how quickly they exited. We said last week we would end up back at this magnet of a tight trading range, so […]