Market Overview: Weekend Market Analysis The SP500 Emini futures market has been in a strong bull trend for a year. The recent streak of 13 consecutive bull bars increases the chance of at least a 10% pullback lasting a couple months coming this summer. This week is a sell signal bar on the weekly chart […]
Emini at top of buy climax on last day of April
Emini and Forex Trading Update:Friday April 30, 2021 Pre-Open market analysis of daily chart On the 5-minute chart yesterday, the Emini sold off from above Wednesday’s high to below its low. That made it an outside down day. It then reversed back up to above Wednesday high, which made it an outside up day. Emini […]
Emini at top of trading range and all-time high ahead of FOMC announcement
Emini and Forex Trading Update:Wednesday April 28, 2021 Pre-Open market analysis of daily chart Emini at top of trading range and double top with April 16 high, and yesterday is the sell signal bar. Yesterday had a big tail below and the bull trend is strong, so this is a low probability sell signal. Consecutive […]
SP500 Emini loss of momentum and may enter trading range
Emini and Forex Trading Update:Monday April 26, 2021 Pre-Open market analysis of daily chart Emini loss of momentum despite Friday being a big bull bar, and new all-time high. Bulls not as strong as they could have been with close below Friday’s high. Friday tested top of 9-day tight trading range. Bears want reversal down […]
Emini strong bull trend has limited near-term upside after streak of 13 consecutive bull bars
Market Overview: Weekend Market Analysis The SP500 Emini strong bull trend is still under the influence of that streak of 13 consecutive bull bar that ended 2 weeks ago. It should attract profit takers, and this therefore will likely limit the near-term upside from here. Traders should expect the buy climax to soon evolve into […]
Emini outside down day at end of April
Emini and Forex Trading Update:Friday April 23, 2021 Pre-Open market analysis of daily chart Yesterday was an Emini outside down day. It traded above Wednesday’s high, and then below its low. There is now a small lower high double top on the daily chart, and therefore an increased chance of a pullback. But trends resist […]
Emini unlikely to have 4th consecutive bear day today
Emini and Forex Trading Update:Wednesday April 21, 2021 Pre-Open market analysis of daily chart Yesterday was the 3rd consecutive bear day. The bear bodies are getting bigger so the momentum down is increasing. These 3 bear days were caused by profit taking. Once there is profit taking in a buy climax, it usually has at […]
Emini at start of 5th week of strongest rally in a year
Emini and Forex Trading Update:Monday April 19, 2021 Pre-Open market analysis of daily chart Friday was a 2nd bear bar in 3 days after the streak of 13 consecutive bull bars ended on Wednesday. Emini now at start of 5th week of strongest rally in a year. This is a sign that bulls are starting […]
Emini streak of 13 consecutive bull days makes pullback likely soon
Market Overview: Weekend Market Analysis The SP500 Emini futures ended its streak of 13 consecutive bull days this week. That streak makes a 5 to 10% pullback likely to occur within the next month. The EURUSD Forex market has been in a trading range for 9 months, with no sign that it is about to […]
Emini streak ended but buy climax continues
Emini and Forex Trading Update:Friday April 16, 2021 Pre-Open market analysis of daily chart Emini streak ended Wednesday, a bear day, ending streak of 13 consecutive bull days. Longest streak in 10 years, so unsustainable and an extreme buy climax. Climaxes can continue much longer than what might seem reasonable. No top yet. Since buy […]
