Trading Update: Thursday September 8, 2022 Emini pre-open market analysis Emini daily chart The bulls had a solid finish to the day yesterday, reversing most of the September 2 selloff. The channel down is tight, so the odds favor the bulls likely disappointed today, and the market will probably not form a strong follow-through bar […]
Emini likely rally and test 4,000 soon
Trading Update: Wednesday September 7, 2022 Emini pre-open market analysis Emini daily chart The bears broke below the September 1st low but failed to close below, which is a sign of weakness. The market will probably have to bounce soon with Emini likely rally and test of 4,000 big round number. The odds favor buyers […]
Emini bulls want second entry buy signal bar
Trading Update: Tuesday September 6, 2022 Emini pre-open market analysis Emini daily chart Last Friday was a big bear trend bar that almost went outside down with Thursday’s low. The market is trying to form a bottom with the July 28 low. The bulls want a strong buy signal bar today, which would be a […]
Emini August Monthly Candlestick Low Close
The S&P 500 Emini futures August candlestick closed as a reversal bar near the low. Odds are September should trade at least slightly lower. Bears want another consecutive bear bar to increase the odds of the 3rd leg down of a larger wedge pattern. Bulls want a reversal higher from a higher low major trend reversal.
Nasdaq 100 Low 1 Sell Signal below EMA
Market Overview: NASDAQ 100 Emini Futures NASDAQ Emini futures monthly candlestick is bear bar closing on its low with a tail on top. It is a NASDAQ 100 low 1 sell signal bar below the exponential moving average (EMA). Last month’s report had made a case for the market to go at least slightly higher […]
EURUSD Consecutive Bear Bars below 7-Year Trading Range
The EURUSD Forex monthly candlestick was a consecutive bear bar below the 7-year trading range low. The long tails below July and August candlesticks indicate that the bears are not as strong as they could have been. Bears want a breakout below the 7-year trading range low followed by a measured move down based on the height of the 7-year trading range which will take them to the year 2000 low. The bulls want a reversal up from a trend channel line overshoot and parabolic wedge (November 24, May 13 and August 23).
Bitcoin Testing Year Lows
Market Overview: Bitcoin Futures Bitcoin testing year lows. Because there is a heavy magnet around $30000, traders think that the price will get there at some point during the next quarters; However, before that happens, the price might suffer a 25% price decline from current prices, by testing the 2017 close. This would also mean […]
FTSE 100 Monthly Sell Signal and 2nd Entry Short
Market Overview: FTSE 100 Futures The FTSE futures market was a monthly sell signal and 2nd entry short. We have yet to see consecutive bear bars on the monthly chart for over 2 years, so next month will likely be bullish. There are many magnets below: The 7000 Big Round Number, the moving averages and a […]
DAX 40 Breakout Test of the Prior Trading Range
Market Overview: DAX 40 Futures DAX futures reversed strongly closing on the lows so it’s a sell signal on the monthly chart. It’s a DAX 40 breakout test of the prior trading range of January 2021. The bears want a move back into that range, a failed wedge bottom. The bulls see support at the […]
Nifty 50 failed major trend reversal
Market Overview: Nifty 50 Futures Nifty 50 failed major trend reversal on the monthly chart. Bears tried to reverse the bull trend by selling lower high double top, but failed to cause a reversal. Rather bulls are now trying to resume the bull trend, by forming consecutive bull bars closing near their high. Nifty 50 […]
