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 strong bull reversal bar closing at high
The S&P 500 Emini futures traded higher closing above the 9-month trading range low (February low). The 7 consecutive bear bars were unsustainable and were a form of a sell climax.
Odds slightly favor a 2 legged sideways to up pullback beginning. However, because of the strong selling since March, traders expect at least a small second leg sideways to down after the pullback is over.
Nasdaq strong weekly bull bar after 7 bear weeks
Market Overview: NASDAQ 100 Emini Futures This week’s candlestick is a Nasdaq strong weekly bull bar closing on its high above last week’s high. This is the first bull bar after seven bear bars. As mentioned in last week’s report, the month is trying to create a bull body. Minimally bulls want to close the month above […]
EURUSD consecutive bull bars on weekly chart
The EURUSD Forex is reversing up from a trend channel line overshoot and a parabolic wedge. The bulls got consecutive bull bars this week. Odds are a 2 legged sideways to up pullback has begun.
The sell-off since March was very strong. Traders expect at least a small second leg sideways to down after the pullback is over.
DAX 40 bull surprise bar at 20-week MA
Market Overview: DAX 40 Futures DAX futures moved higher last week with a DAX 40 bull surprise bar at the 20-week moving average (MA). It looks like we are always in long on the daily chart but we have been going sideways here for many weeks so no matter how bullish it looks so can […]
Nifty 50 futures breakout above inside bar
Market Overview: Nifty 50 Futures The Nifty 50 futures on the weekly chart is currently trading near major support, has formed an inside bar, and with potential breakout above inside bar. The market could move 2 legs upside from here. On daily chart, the NIFTY 50 is still in a broad bear channel and has completed 2 […]
FTSE 100 bull breakout from tight trading range
Market Overview: FTSE 100 Futures The FTSE futures market raced higher with a FTSE 100 bull breakout, 6 bull bars on daily chart, so we are always in long on the daily timeframe. The tight trading range was in the middle of a larger trading range so traders should expect scalping to continue and take quick […]
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 […]
