Al added a few comments to report Market Overview: Weekend Market Analysis The SP500 Emini futures broke far below the bull trend line and December 2020 low on the weekly and daily chart. It was a Surprise Bear Breakout which typically leads to a second leg sideways to down. The next target for the bears […]
Emini breakout below bull trend line and testing 100-day MA
Trading Update: Wednesday January 19, 2022 Emini pre-open market analysis Emini daily chart Emini breakout below bull trend line yesterday on daily and weekly charts. It also closed below last week’s low, and it is testing 100-day MA. Bears want reversal down from January 4 wedge top (September 2, November 22, January 4) to continue […]
Emini bulls want breakout above November all-time high
Trading Update: Friday December 17, 2021 Emini pre-open market analysis Emini daily chart Yesterday was a big bear day after a big bull day on Wednesday. Yesterday’s low was above Wednesday’s low. Emini bulls want breakout above November all-time high. The bulls hope that yesterday was just a deep pullback from Wednesday’s rally. They want […]
Emini strong breakout attempt above September high
Trading Update: Tuesday October 26, 2021 Emini pre-open market analysis Emini daily chart Yesterday was a bull bar that broke to a new high. It is the 3rd consecutive bull bar closing above the September high (Friday’s close on the 5-minute chart was below the open, but it was above the open on the daily […]
Emini breaking above lower high of September 3
Trading Update: Tuesday October 19, 2021 Emini pre-open market analysis Emini daily chart Yesterday traded below Friday’s low and then above Friday’s high, making it an outside up day. It was the 4th consecutive bull day. Since it closed above Friday’s high, there is an increased chance of at least slightly higher prices today with […]
Emini weak follow-through after breakout above May 7 high
Trading Update: Monday June 14, 2021 Emini pre-open market analysis Emini daily chart Thursday closed above the May 7 high, which is the Breakout Point at the top of a 2-month trading range. Friday had a small bull body, so consecutive bull bars with closes above that high. That increases chance for a 200-point measured […]
Emini consecutive closes above May 7 breakout point
Market Overview: Weekend Market Analysis The SP500 Emini futures market had consecutive closes above the May 7 breakout point this week on the daily chart. Emini consecutive closes increase the chance of a successful breakout. The bulls will need bigger bull bars, and more bull bars if the breakout is to reach a 200-point measured […]
Emini weak breakout above April/May trading range
Trading Update: Friday June 11, 2021 Emini pre-open market analysis Emini daily chart Yesterday was rollover day for the Emini, so traders should trade the September contract today. Yesterday reversed up from below the open of the week, and the open of the month. It closed near its open and in the middle of the […]
Emini breakout above 4-week tight trading range needs follow-through
Emini and Forex Trading Update:Monday May 10, 2021 Pre-Open market analysis of daily chart Friday broke above 4-week tight trading range, and closed near the high of the day and of the week. Bulls need follow-through buying today or tomorrow to confirm Friday’s breakout. If they get it, traders will look for 100-point measured move […]
How to trade foreign exchange market weak breakouts
This is an example of Forex exchange market trading, showing how to trade a weak breakout in the EURUSD. It is from my Futures Magazine webinar for the Traders Expo earlier this week. This is a transcript that was created by YouTube’s Close Caption voice to text, so it probably is not perfect. Hi. I’m […]