Trading Update: Wednesday June 1, 2022 Emini pre-open market analysis Emini daily chart The three consecutive bull breakout bars are strong enough for a second leg up and possible measured move up that would project to around the April 18 low. Bears hope that the three consecutive bull bars are a 2nd leg trap that […]
Emini closed above 9-month trading range low
Trading Update: Tuesday May 31, 2022 Emini pre-open market analysis Emini daily chart The market closed above the 9-month trading range low last Friday, creating a failed bear breakout. The odds are the market will test the middle of the 9-month trading range sometime soon. The bulls got a strong bull breakout above the 20-period […]
Emini strong bull reversal bar closing at high
The S&P 500 Emini futures traded higher closing above the 9-month trading range low (February low). The 7 consecutive bear bars were unsustainable and were a form of a sell climax.
Odds slightly favor a 2 legged sideways to up pullback beginning. However, because of the strong selling since March, traders expect at least a small second leg sideways to down after the pullback is over.
Emini bulls likely disappointment today
Trading Update: Friday May 27, 2022 Emini pre-open market analysis Emini daily chart The market reached the May 2nd low (4,056) and will probably get to the February 24th low (4,094.50) soon. The bulls probably need one more strong bull trend bar to convince traders that the bulls have regained control as they did on […]
Emini will likely reach February low
Trading Update: Thursday May 26, 2022 Emini pre-open market analysis Emini daily chart Emini bulls are trying hard to form a bottom and getting enough buying pressure to likely reach February low and the moving average. It looks like the bulls will reach those targets, but it might take until the end of next week. […]
Emini FOMC report today at 11:00 PT
Trading Update: Wednesday May 25, 2022 Emini pre-open market analysis Emini daily chart Today has the potential for a big move up or down due to the release of the FOMC report today at 11:00 PT. The bulls triggered a Low 1 by falling below yesterday’s bull bar on the daily chart. The market has […]
Emini bulls wanting rally to February 24 low
Trading Update: Tuesday May 24, 2022 Emini pre-open market analysis Emini daily chart Emini bulls wanting rally after getting a strong reversal up after last Friday reached the 20% correction (3,839.8) level. The bulls hope that the next couple of trading days will lead to a test of the February 24 low. The selloff down […]
Emini likely to rally after reaching 20% correction
Trading Update: Monday May 23, 2022 Emini pre-open market analysis Emini daily chart Emini likely to rally this week after market reached a 20% correction (3,839.8) on Friday. The market reached a 19% correction on May 12, however the odds were any bounce would be minor, and the market would have to fall below the […]
S&P500 Emini bears follow through on weekly chart
The bears got a bear follow-through bar on the S&P 500 Emini futures weekly chart. There are 7 consecutive bear bars on the weekly chart, something that has not happened since February 2001. It increases the odds of a bull bar within the next 1- to 3-weeks.
pullback (bounce) would be minor.
Emini likely to continue sideways
Trading Update: Friday May 20, 2022 Emini pre-open market analysis Emini daily chart Wednesday bear breakout bar and yesterday’s weak bull doji bar add further confusion to the market and increases the odds of more trading range price action The bears got disappointment after Wednesday’s big bear breakout bar. The bulls hope that yesterday is […]
