Trading Update: Thursday July 7, 2022 Emini pre-open market analysis Emini daily chart Emini more sideways trading likely going into tomorrow’s 5:30am PT unemployment report. The bulls had a weak bull close yesterday following the three consecutive bear bars. Bears see yesterday as a signal bar for a Low 2 short from the June 28 […]
Emini bulls want breakout after FOMC release today
Trading Update: Wednesday July 6, 2022 Emini pre-open market analysis Emini daily chart Yesterday was an outside up bar closing near its high. This is the third consecutive bull bar at what might be a higher low major trend reversal. Emini bulls want bull breakout following today’s FOMC release. The bulls want an upside breakout […]
Emini bulls want higher low major trend reversal
Trading Update: Tuesday July 5, 2022 Emini pre-open market analysis Emini daily chart Emini bulls want higher low major trend reversal with July 1. They want this to lead to an upside breakout. The higher low is only a few bars so it might be a minor reversal up. Bulls can also call this a […]
EURUSD June monthly candlestick was inside bear bar
The EURUSD Forex market is in a 10-week trading range. Bears want a breakout below the 2017 low followed by a measured move down based on the height of the 7-year trading range height. Bulls want a reversal higher from a wedge bottom and a double bottom from the 7-year trading range low. Traders will BLSH (Buy Low, Sell High) until there is a strong breakout from either direction.
Emini bulls likely higher low and June 28 high test
Trading Update: Friday July 1, 2022 Emini pre-open market analysis Emini daily chart Yesterday was a small doji bar which is disappointing to the bears on the daily chart. Emini bulls likely higher low favored with second leg up testing the June 28 high. Bulls want a break above the June 28 high and test […]
Emini bears likely disappointment around 3,800
Trading Update: Thursday June 30, 2022 Emini pre-open market analysis Emini daily chart Emini bears got a small follow-through bar yesterday. However, the follow-through bar was a doji and a reminder that the market is likely in a trading range, with bears likely disappointment around 3,800 (midpoint of the June 27 rally). Bulls will try […]
Emini bulls want second leg up test of 4,000
Trading Update: Wednesday June 29, 2022 Emini pre-open market analysis Emini daily chart The bulls will see yesterday as a pullback and want a second leg up test of 4,000. Yesterday was outside down surprise breakout bar. It is probably a strong enough surprise to have at least a small 2nd leg down. However, it […]
Emini odds favor second leg up and test of 4,000 big round number
Trading Update: Tuesday June 28, 2022 Emini pre-open market analysis Emini daily chart Emini bulls had a strong breakout last Friday (6/24); however, the breakout led to bad follow-through in the form of a weak bear bar. At the moment, the odds favor a second leg up from the June 24th rally and test of […]
Emini bulls need strong follow-through for test of 4,200
Trading Update: Monday June 27, 2022 Emini pre-open market analysis Emini daily chart Bulls successfully closed above 3,900 on Friday. The bulls need follow-through for test of the June high and 4,200. At the moment, the market is close enough to 4,000 that it will probably have to test that price level soon. The market […]
EURUSD sideways trading range for 9 weeks
The EURUSD Forex is in a 9-weeks sideways trading range. The bulls want a reversal from a double bottom (May 13 and Jun 15) following a trend channel line overshoot and a wedge bottom (Aug 20, Nov 24 and May 13). They need to create follow-through buying next week to convince traders that a reversal higher may be underway. The bears want the EURUSD to stall around or below the May 20 high, the bear trend line, or the 20-week exponential moving average and a re-test of the low.