Trading Update: Monday April 25, 2022 Emini pre-open market analysis Emini daily chart Emini bear breakout below wedge bottom. The bears now have two consecutive bear bars, one completely below the moving average. Right now, there is at least a 60% chance the bears will get some kind of measured move down. The bulls tried […]
EURUSD pullback after breakout below March 4 low
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.
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 […]
EURUSD bear follow-through on weekly chart
The EURUSD Forex traded sideways to down for the week. However, the weekly candlestick has a prominent tail below. The bears want a strong break below the March 4 low followed by a test of the March 2020 low. Bulls want a reversal higher from a double bottom with March 4 low and a lower low major trend reversal. The bulls will need to create strong consecutive strong bull bars to convince traders that a reversal higher could be underway. Odds slightly favor at least a small second leg sideways to down after a slightly larger pullback.
Emini bulls want strong entry bar today
Trading Update: Thursday April 14, 2022 Emini pre-open market analysis Emini daily chart The bulls got a strong bull close today and now have a second entry buy. The channel down from March 29 is tight, which increases the odds that the first reversal up will be minor. The bulls hope they can get a […]
Emini bulls trying to form wedge bull flag
Trading Update: Wednesday April 13, 2022 Emini pre-open market analysis Emini daily chart Emini bulls trying to form wedge bull flag with bears having bear close under the March 3 breakout point, confirming the gap closing. The bears now have two consecutive bear bars, both closing below their midpoints, so it is possible the bear […]