Market Overview: Weekend Market Analysis The SP500 Emini futures sold off sharply for 2 days but bounced on Friday. The bounce might continue to above 3500, but traders expect a 2nd leg down to around 3200. Bond futures are turning down from a double top bear flag on the daily chart, but the yearlong trading […]
Emini huge reversal down from August buy climax
Emini and Forex Trading Update:Friday September 4, 2020 I will update again at the end of the day. Pre-Open market analysis The Emini crashed on the 5 minute chart yesterday to below the open of the week. It began a reversal up from a 5 hour wedge bottom on the 5 minute chart in the […]
Emini buy climax measured move target at 3704.50
Emini and Forex Trading Update:Thursday September 3, 2020 I will update again at the end of the day. Pre-Open market analysis Every low for the past 9 days was above the low of the prior day. This is a 10 bar bull micro channel, which is a sign of very aggressive bulls. But it is […]
Emini buy climax broke above August high
Emini and Forex Trading Update:Wednesday September 2, 2020 I will update again at the end of the day. Pre-Open market analysis The Emini yesterday broke above the September high. The rally was in a weak bull channel, but the day closed near the high. That increases the chance of a gap up today. The daily […]
Emini might get another monthly gap up in September
Emini and Forex Trading Update:Tuesday September 1, 2020 I will update again at the end of the day. Pre-Open market analysis Today is the 1st day of September. The bulls had a gap up in August and August closed near the high of the month yesterday. The bulls want another gap up today for a […]
Emini forming big bull trend bar in August
Emini and Forex Trading Update:Monday August 31, 2020 I will update again at the end of the day. Pre-Open market analysis On Friday, the Emini closed above the 3500 Big Round Number for the 1st time. The daily chart is in a Small Pullback Bull Trend. The week before Labor Day has a bullish tendency. […]
Emini strong August buy climax makes September 10% pullback likely
Market Overview: Weekend Market Update The S&P500 Emini futures is in a strong bull trend and it should trade higher next week. It might even accelerate up next week. Since the buy climax is extreme, there is a 50% chance of a 10 – 20% pullback starting in September. However, traders will buy the selloff. […]
Emini buy climax now testing 3500 Big Round Number
Emini and Forex Trading Update:Friday August 28, 2020 I will update again at the end of the day. Pre-Open market analysis The Emini formed a doji bar yesterday. Since Wednesday was a big bull day in a buy climax on the daily chart, yesterday’s pause could be the start of some profit taking. The buy […]
Emini late August buy climax should pause today
Emini and Forex Trading Update:Thursday August 27, 2020 I will update again at the end of the day. Pre-Open market analysis The rally over the past 2 days on the 5 minute chart was one of the strongest consecutive days of the year. That reduces the chance of a big selloff. It also reduces the […]
Emini follow-through buying after gap above 3 year trading range
Emini and Forex Trading Update:Wednesday August 26, 2020 I will update again at the end of the day. Pre-Open market analysis The Emini gapped up Monday on the weekly chart and rallied. Yesterday was in a trading range for the 1st 3 hours and then in a Small Pullback Bull Trend. It was follow-through buying […]