The EURUSD Forex is trading sideways after breaking below March 4 low. It may continue to trade sideways for another week or two. If there is a breakout, odds slightly favor a downside breakout more. Bulls need to create consecutive big bull bars trading far above April 21 high to convince traders that a reversal higher may be underway.
FTSE 100 Low 1 sell signal at top of trading range
Market Overview: FTSE 100 Futures The FTSE futures market traded lower last week with consecutive bear bars near the top of trading range. It’s a Low 1 sell signal on the weekly and a Low 2 sell on the daily chart so we should move down next week. But the FTSE has failed to get 3 […]
DAX 40 – Micro double top and failed buy signal
Market Overview: DAX 40 Futures DAX futures closed lower last week with a Micro Double Top (DT) and failed buy signal but without new lows. The weekly broad bear channel has set up a possible head and shoulders sell on the daily chart. The bulls have managed to reverse consecutive bear bars and with buyers […]
Nifty 50 futures pullback (50%) & limit orders filled
Market Overview: Nifty 50 Futures The Nifty 50 futures pullback (50%) gave a indecisive close (i.e., Doji) for this week, and filled the buy limit orders present at the positive gap. Overall week was sideways with no major move. Nifty 50 gapped down on the open (i.e. Monday ~start of the week) and the close […]
Emini oscillating at middle of 9-month trading range
Trading Update: Friday April 22, 2022 Emini pre-open market analysis Emini daily chart Emini oscillating at middle of 9-month trading range. Below is a comment Al wanted to add regarding the Emini: “The Emini has been oscillating around 4,400 for 9 months. That price might well end up being the middle of the trading range. […]
Emini testing midpoint of March 31 selloff
Trading Update: Thursday April 21, 2022 Emini pre-open market analysis Emini daily chart Emini testing midpoint 4,500 of the March 31 selloff. This is an important magnet, so the market may have to go sideways here for a couple of days. The bears got a bear doji bar on the daily chart, which is […]
Emini bulls want consecutive bull trend bars on daily chart
Trading Update: Wednesday April 20, 2022 Emini pre-open market analysis Emini daily chart Yesterday, the bulls got a strong entry bar following the April 18 second entry buy. They want consecutive bull trend bars on daily chart. The bulls are hopeful that this will lead to a rally back up to the March 29 close. […]
Emini may rally 200 points over next couple weeks
Trading Update: Tuesday April 19, 2022 Emini pre-open market analysis Emini daily chart The bears failed to get a strong bear close yesterday, which lowers the chances of a bear breakout below the bull flag from March 29. The odds are beginning to favor the bulls, and a test back up to the March 29 […]
Emini bulls want failed breakout below wedge bottom
Trading Update: Monday April 18, 2022 Emini pre-open market analysis Emini daily chart The bulls are trying to form a wedge bull flag (April 1, April 6, and April 13) and want failed breakout below wedge bottom. The bears went outside down following the credible stop entry buy on April 13. This increases the odds […]
S&P 500 Emini futures consecutive bear bars
The S&P 500 Emini futures had a consecutive bear bar on the weekly chart. The bears are hoping to get the 3rd consecutive bear bar trading far below March 3 high. If they get that, the odds of a test of the February low increases. The bulls see this as a 50% pullback and want a 2nd leg sideways to up to re-test March 29 high.
