Trading Update: Monday June 7, 2021 Emini pre-open market analysis Emini daily chart Friday triggered High 1 buy signal and closed on its high. Since Friday closed just below all-time high, in wedge rally test, it might gap up to new all-time high today. Friday could not break to all-time high, so possible double top […]
Emini at top of 2-month trading range in Small Pullback Bull Trend
Market Overview: Weekend Market Analysis The SP500 Emini futures market is at the top of a 2-month trading range. A bull breakout is slightly more likely. The bears want a reversal down from a double top. The EURUSD Forex is near the top of an 11-month trading range nested within a 7-year trading range. The […]
Emini triggered sell signal for May 7 and June 1 double top
Trading Update: Friday June 4, 2021 Emini pre-open market analysis Emini daily chart Yesterday broke below Tuesday’s low, giving an Emini triggered sell signal for the May 7/June 1 double top. Since yesterday had a bull body, it was a weak entry bar. The bears need bear bars today and next week if the reversal […]
Emini outside down sell signal bar and double top with May 7 high
Emini and Forex Trading Update:Wednesday June 2, 2021 Pre-Open market analysis of daily chart Yesterday was outside down day. It is therefore an outside down sell signal bar for a double top with the May 7 all-time high. Because it closed below Friday’s low, there is an increased chance of a bear trend day today. […]
Emini weak sell signal bar for June parabolic wedge top on monthly chart
Emini and Forex Trading Update:Tuesday June 1, 2021 Pre-Open market analysis of daily chart Emini in strong 16-month bull trend on monthly chart. Even if there is a reversal, it will probably lead to 1- to 2-month trading range, and not bear trend. Today is the 1st day of June. The bulls want a gap […]
Emini pullback from May double bottom rally more likely than double top
Emini and Forex Trading Update:Monday May 24, 2021 Pre-Open market analysis of daily chart Double bottom rally and double top since May 12, so Breakout Mode. 6-week trading range so Breakout Mode. Bulls have slight advantage because yearlong bull trend, and reversal up after a reversal down 2 weeks ago. A 2nd reversal is higher […]
Emini bulls slight edge at end of May
Market Overview: Weekend Market Analysis The SP500 Emini futures market has been sideways for 6 weeks in a yearlong strong bull trend, and therefore in Breakout Mode. Friday is a sell signal bar for a double top, but there will probably be buyers below. A bull breakout of the range is slightly more likely than […]
Emini May double bottom bull flag neckline being tested
Emini and Forex Trading Update:Friday May 21, 2021 Pre-Open market analysis of daily chart Yesterday was a 2nd consecutive big bull bar, and a good follow-through bar after Wednesday’s strong reversal up from a double bottom bull flag. Last Friday’s high is the neckline of the double bottom bull flag. The bulls need closes above […]
Emini either forming lower high in bear trend or pulling back from May 13 reversal up
Emini and Forex Trading Update:Wednesday May 19, 2021 Pre-Open market analysis of daily chart Yesterday was a bear day. It closed the gap above last Thursday’s high, eliminating last week’s 3-day island bottom. Today will probably gap down. That will create a 3-day island top. Remember, last week’s gap up created a 3-day island bottom, […]
Emini bulls want May V-bottom pattern
Emini and Forex Trading Update:Monday May 17, 2021 Pre-Open market analysis of daily chart Strong 2-day reversal up from sell climax, to below bottom of 4-week trading range. 3-day island bottom. Bulls looking for May V-bottom pattern. Bulls want May V-bottom, and for rally to continue up to new high. After 2 strong bull days, […]
