Trading Update: Friday May 20, 2022 Emini pre-open market analysis Emini daily chart Wednesday bear breakout bar and yesterday’s weak bull doji bar add further confusion to the market and increases the odds of more trading range price action The bears got disappointment after Wednesday’s big bear breakout bar. The bulls hope that yesterday is […]
Emini will likely have to reach 20% correction
Trading Update: Thursday May 19, 2022 Emini pre-open market analysis Emini daily chart Emini yesterday was a big bear trend day reversing the past three trading days. This is a sign that the market may have to go lower and likely reach 20% correction (3,839.75). May 18 is a big enough surprise bar to increase […]
Emini at resistance and likely to disappoint bulls today
Trading Update: Wednesday May 18, 2022 Emini pre-open market analysis Emini daily chart Emini at resistance with yesterday’s bulls getting within 10 points of the February 24 low. There will likely be some profit-taking in this area from scale in bulls who bought betting against the bear breakout below February 24. Since the market is […]
Emini testing back into bottom of 3-month trading range
Trading Update: Tuesday May 17, 2022 Emini pre-open market analysis Emini daily chart Emini yesterday was a doji bar following Friday’s entry bar. This is disappointing for bulls and a sign of trading range price action. The market is getting near the bottom of the 3-month trading range (February – April) and will likely test […]
Emini reversing up from 19% correction
Trading Update: Monday May 16, 2022 Emini pre-open market analysis Emini daily chart The Emini reversed up over the past two trading days from a 19% correction. The bulls hope that Thursday will be the low of the next several weeks and possibly months. While this may be the low, the channel down from the […]
Emini weak breakout bar below 9-month trading range
The S&P 500 Emini futures broke below the 9-month trading range this week but closed as a reversal bar with a bear body and a long tail below. The selling has been climactic. The bulls hope that a 2 legged sideways to up pullback will begin soon. The bears will need to create another bear bar to confirm the breakout below the trading range.
NASDAQ weekly bear reversal after reaching targets
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures reversed this week with a small bear body and a big tail at the bottom. NASDAQ weekly bear reversal with market reaching all targets mentioned last week on the weekly chart. It is reversing after reaching the Leg1 Leg2 target of 11720. A reversal here […]
EURUSD bear breakout test 2017 low
The EURUSD Forex broke below the tight trading range and tested the 2017 low. Bears want a strong break below 2017 followed by a measured move based on the height of the 7-year trading range. Bulls hope for a 2 legged sideways to up pullback to begin soon from a parabolic wedge and a trend channel line overshoot.
FTSE High 2 possible at 20-week moving average
Market Overview: FTSE 100 Futures The FTSE futures market went sideways last week with a FTSE High 2 possible at the 20-Week Moving Average (MA.) We said last week a fifth bear bar on the weekly was unusual and traders expected a pullback. The bulls see a pullback from a tight channel up to the range […]
DAX double bottom in broad bear channel
Market Overview: DAX 40 Futures DAX futures moved higher last week with a possible DAX double bottom in a Broad Bear Channel. The bulls see a possible major trend reversal above the high of this week but the context is bad in a broad bear channel. The bears expect to sell above bars again this […]
