Trading Update: Thursday September 29, 2022 Emini pre-open market analysis Emini daily chart The bulls got a bull reversal bar yesterday, ending the six-bar bear micro channel streak. A minor reversal up means traders should expect more sideways than straight up. The bears will look to sell the first reversal up. They want to prevent […]
Emini Profit Taking Likely Soon
Trading Update: Wednesday September 28, 2022 Emini pre-open market analysis Emini daily chart Emini profit taking likely soon after market broke below the June 17 low yesterday and failed to close below. The market may have a minor reversal up; however, after six consecutive bear bars, the market will likely have to go a little […]
Emini Likely Reversal Up Soon
Trading Update: Tuesday September 27, 2022 Emini pre-open market analysis Emini daily chart Emini likely reversal up soon despite the Emini coming close to falling below the June low on the day-only session but going below it on the Globex session. The bears want a strong breakout below the June low and a 400-point selloff […]
Emini Bounce Likely after Test of June 17 Low
Trading Update: Monday September 26, 2022 Emini pre-open market analysis Emini daily chart The Emini had a strong selloff over last week’s final three trading days. Last Friday tested within a few points of the June 17 low. Bounce likely after test. The selloff last week was strong enough that the first reversal up will […]
Emini Breakout below OO Pattern
The S&P 500 Emini futures broke out below the OO (outside-outside) pattern and tested close to the June low. The June low is close enough to be a magnet. Bulls want a reversal higher from a double bottom major trend reversal. However, because of the strong sell-off, the bulls will need a strong reversal bar or at least a micro double bottom before they would be willing to buy aggressively.
Emini Getting Close to June Low
Trading Update: Friday September 23, 2022 Emini pre-open market analysis Emini daily chart The bears are getting very close to June low and may have to get down to it. The bulls had a strong rally up to September 12. However, the bears got a strong reversal down, trapping the bulls. While the bears have […]
Emini bulls want to disappoint bears after yesterday’s bear breakout
Trading Update: Thursday September 22, 2022 Emini pre-open market analysis Emini daily chart The Emini broke below the September 18 low by going outside down yesterday. The bulls will see this breakout as the third leg in a wedge bottom (8/24, 9/6), and they hope today will be a strong reversal bar closing on its […]
Emini FOMC Report Today, Bulls Want Upside Breakout Test of 4,000
Trading Update: Wednesday September 21, 2022 Emini pre-open market analysis Emini daily chart The market is beginning to stall just under the September 6 breakout point and will probably have to bounce with upside breakout test of the 4,000 big round number soon. There is the Emini FOMC report today at 11:00 PT which has […]
Emini Testing Breakout Point of September 6
Trading Update: Tuesday September 20, 2022 Emini pre-open market analysis Emini daily chart Emini market is reversing up and testing breakout point of the September 6 low. This is probably the start of a couple of legs sideways to up. The bears will try and keep the September 6 breakout gap open, however, it will […]
Emini Wedge Bottom Likely Rally Back to 4,000 Soon
Trading Update: Monday September 19, 2022 Emini pre-open market analysis Emini daily chart The market reversed up late Friday, painting a tail on top of the bar. The market will likely have to reach the September 6 breakout point soon and close the open gap with wedge bottom likely rally and test of 4,000. The […]
