The EURUSD Forex re-tested the low and the bears got a weak follow-through bar on the weekly chart. The bears want a breakout below the May low followed by a measured move down based on the height of the 7-year trading range. The bulls want a reversal higher from a double bottom major trend reversal following the trend channel line overshoot and wedge bottom.
Emini likely to try and rally 200 points soon
Trading Update: Friday June 17, 2022 Emini pre-open market analysis Emini daily chart The Emini is likely to try and rally 200 points soon. Yesterday was a big outside down day and was a second leg from last week’s selloff. Now that the bulls have a second leg down. As strong as yesterday was, the […]
Emini bears likely second leg down
Trading Update: Thursday June 16, 2022 Emini pre-open market analysis Emini daily chart The bulls got a reversal up yesterday; however, they probably need at least a micro double bottom which means the bears likely second leg down will follow. Market formed a bull bar yesterday, ending the streak of 5 consecutive bear bars on […]
Emini bulls want rally after today’s FOMC report
Trading Update: Wednesday June 15, 2022 Emini pre-open market analysis Emini daily chart Today is a FOMC report day, so there is the potential for a big move up or down at 11:00 PT. Bulls want rally after report. The bears have five consecutive bear bars on the daily chart, so the first reversal up […]
Emini bears trying hard to reach targets below
Trading Update: Tuesday June 14, 2022 Emini pre-open market analysis Emini daily chart Emini bears got a close below the May 20 low and are trying hard to reach targets below, the measured move. The odds are today will have a close above the open and end the streak of consecutive bear closes. The bears […]
Emini testing 3,800 big round number — a 20% correction
Trading Update: Monday June 13, 2022 Emini pre-open market analysis Emini daily chart Emini testing 3,800 big round number and is currently deciding if it needs to go lower to find buyers. The 3,800 level is a 20% correction from the all-time high, attracting long-term buyers. These buyers are value investors and will be happy […]
EURUSD second leg sideways to down
The EURUSD Forex stalled around the April low which was the last breakout point. The bears are now getting the second leg sideways to down that they were expecting. The bulls hope the sell-off this week was simply a sell vacuum test of the low. Odds slightly favor sideways to down next week. Bears want a follow-through bear bar while the bulls want a bull bar even though the EURUSD may trade lower first.
Emini bears want follow-through after give-up bar yesterday
Trading Update: Friday June 10, 2022 Emini pre-open market analysis Emini daily chart Emini bulls gave up yesterday on the idea of a second leg up from the May 27 bull breakout without first having a deep pullback. The bears want follow-through after give-up bar yesterday. The bulls had several chances following the three-bar breakout […]
Emini bears want breakout below 8-bar tight trading range
Trading Update: Thursday June 9, 2022 Emini pre-open market analysis Emini daily chart The bulls have had several strong trend bars closing near their highs. However, every bull trend bar in the current 8-bar tight trading range has been followed by a bear bar. This is a reminder of all the trading range price action. […]
Emini bulls want 2nd leg up from May 27 breakout
Trading Update: Wednesday June 8, 2022 Emini pre-open market analysis Emini daily chart Yesterday was a strong bull close that reversed up from near the lows of the 6-bar tight trading range. This might be the start of a second leg up from the May 27 bull breakout. Emini bulls want 2nd leg up. The […]
