Emini and Forex Trading Update:Friday May 14, 2021 Pre-Open market analysis of daily chart Wednesday was big bear day that closed far below bottom of 4-week trading range. A 3-day collapse. Weekly chart has big bear bar, and Globex weekly chart has OO pattern (consecutive outside bars, so Breakout Mode). Yesterday’s low was above Wednesday’s […]
Emini bouncing from bottom of April trading range
Emini and Forex Trading Update:Wednesday May 12, 2021 Pre-Open market analysis of daily chart Last week broke above top of April trading range and today broke below bottom of the range. Yesterday closed just above the open of the day and therefore it was a weak bull day. Today has weak buy signal bar for […]
Emini breakout above 4-week tight trading range needs follow-through
Emini and Forex Trading Update:Monday May 10, 2021 Pre-Open market analysis of daily chart Friday broke above 4-week tight trading range, and closed near the high of the day and of the week. Bulls need follow-through buying today or tomorrow to confirm Friday’s breakout. If they get it, traders will look for 100-point measured move […]
Emini yearlong rally trying to resume after 4-week tight trading range
Market Overview: Weekend Market Analysis The SP500 Emini futures bulls got a breakout above the 4-week trading range on Friday. Trying to resume the Emini yearlong rally. They want Monday to be another bull bar, which would confirm the breakout and make higher prices likely. The bulls want a 100-point measured move up, based on […]
Emini bulls hoping April rally resuming
Emini and Forex Trading Update:Friday May 7, 2021 Pre-Open market analysis of daily chart Streak of 8 consecutive bear bars ended yesterday. Emini may see bulls rally resuming. There was another streak of 8 bear bars in 2005, and a streak of 10 bear bars in 2017. Therefore, this streak is extreme. Still in tight […]
Emini has 8 consecutive bear days in tight trading range
Emini and Forex Trading Update:Thursday May 6, 2021 Pre-Open market analysis of daily chart Yesterday was 8 consecutive bear days on the daily chart. That happens only once every few years, and it is therefore climactic. Since it is sideways instead of down, it is not a sell climax. It is simply a pattern that […]
Emini has streak of 6 consecutive bear days
Emini and Forex Trading Update:Tuesday May 4, 2021 Pre-Open market analysis of daily chart Yesterday broke above Friday’s high, and therefore triggered a High 1 buy signal on the daily chart. Friday was a bear day on the daily chart and therefore this was a weak buy setup. Emini streak of 6 consecutive bear days. […]
Emini has 5 consecutive bear doji bars in extreme buy climax
Emini and Forex Trading Update:Monday May 3, 2021 Pre-Open market analysis of daily chart Emini formed 5 consecutive bear doji bars in a tight trading range this week. This is a Breakout Mode pattern. Only 2 strong bull bars in past 11 days, even though strong bull trend in March and April. Streak of 13 […]
Emini had 5 bear bars in last week of April
Market Overview: Weekend Market Analysis The SP500 Emini futures market has been in a strong bull trend for a year. The recent streak of 13 consecutive bull bars increases the chance of at least a 10% pullback lasting a couple months coming this summer. This week is a sell signal bar on the weekly chart […]
Emini at top of buy climax on last day of April
Emini and Forex Trading Update:Friday April 30, 2021 Pre-Open market analysis of daily chart On the 5-minute chart yesterday, the Emini sold off from above Wednesday’s high to below its low. That made it an outside down day. It then reversed back up to above Wednesday high, which made it an outside up day. Emini […]
