Market Overview: DAX 40 Futures The DAX futures moved lower last month with follow-through selling below a bear breakout. It’s always in short on the daily chart but bears failed to get consecutive bear bars last week so it looks like we might go sideways. The bulls have support after a long-term trend and we […]
Emini bear breakout below wedge bottom
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 bears trying for breakout of bull flag
Trading Update: Wednesday April 6, 2022 Emini pre-open market analysis Emini daily chart The market broke above the February high during the U.S. day session for the second time. The bulls failed to keep the market above the February high, and the bears were able to successfully close the market below it. I stated yesterday […]
Emini bulls breaking above 4,600 and February high
Trading Update: Tuesday March 29, 2022 Emini pre-open market analysis Emini daily chart Emini bulls breaking above 4,600 with the Emini reaching the February high today and 4,600 round number during the Globex session So far, the bulls have a strong breakout since the March 14 low. The bulls are hopeful that this rally is […]
DAX futures paused just below prior breakout point
Market Overview: European Market Analysis DAX futures paused last week just below the prior breakout point. Bears see the tight bear channel and are looking for reasons to sell the next move down. Bulls are looking a follow-through bar to prove the move down was simply a pullback in a much longer bull trend. On […]
Emini strong bull breakout of March 3 high
Trading Update: Monday March 21, 2022 Emini pre-open market analysis Emini daily chart Emini strong bull breakout with 4 consecutive bull bars following a higher low major trend reversal. These three bars are strong enough that the odds favor a second leg sideways to up. The bulls are hopeful that this is the rally that […]
Emini bulls want breakout above March 3
Trading Update: Friday March 18, 2022 Emini pre-open market analysis Emini daily chart The bulls have three consecutive bull bars on the daily chart. This increases the odds of a second leg up and a test of the top of the wedge (February 9). Emini bulls want breakout above March 3. The bulls hope that […]
Emini bull breakout of wedge bottom
Trading Update: Thursday March 17, 2022 Emini pre-open market analysis Emini daily chart Yesterday, the bulls had a strong entry bar following the truncated wedge (January, February, and the March 8 Double bottom). A breakout of wedge bottom. The bulls are hopeful that this is the start of two legs up that will lead to […]
Emini strong bear breakout but likely disappointment today
Trading Update: Tuesday March 8, 2022 Emini pre-open market analysis Emini daily chart Emini had a strong bear breakout yesterday; closing below the January low. The bears are hopeful this will test the February 24 low and possibly break below. While the bears had a strong bear trend bar yesterday, look to the left, it’s […]