Trading Update: Tuesday November 23, 2021 Emini pre-open market analysis Emini daily chart Yesterday made a new all-time high but became an outside down day that closed near its low. It is a double top sell signal bar for today for a higher high major trend reversal. Last week’s range was small. This week might […]
Emini in 7-bar bull micro channel on weekly chart
Market Overview: Weekend Market Analysis The SP500 Emini is testing the November 5 high. The bears want a reversal down from a higher high double top, and the bulls want the rally to continue up to the top of the bull channel. Since the Emini is in a bull trend (with 7-bar bull micro channel […]
Emini bulls want to test bull channel top at 4775
Trading Update: Friday November 19, 2021 Emini pre-open market analysis Emini daily chart Yesterday was an outside up day, which is bullish. Emini bulls want to test bull channel top on weekly chart at 4775. It barely closed back above the 4700 Big Round Number and just below the all-time high, which is disappointing for […]
Emini testing November high but top of channel is magnet above
Trading Update: Wednesday November 17, 2021 Emini pre-open market analysis Emini daily chart Yesterday was a bull day and it broke above last week’s high. Emini testing November high (November 5). Last week was a bear bar on the weekly chart, which is a weak buy signal bar. Yesterday closed back below last week’s high […]
Emini retesting 4700 Big Round Number
Trading Update: Monday November 15, 2021 Emini pre-open market analysis Emini daily chart Strong reversal up on Friday after 5 consecutive bear bars. Emini is testing the 4700 Big Round Number. The November 5th top came from just below the top of the 15-month bull channel. Some traders believe that the resistance was not adequately […]
Emini weak pullback from parabolic wedge buy climax
Market Overview: Weekend Market Analysis SP500 Emini weak pullback phase on daily chart following a parabolic wedge buy climax at a trend channel line. Pullback from a parabolic wedge buy climax typically has at least a small 2nd sideways to down leg. The bulls want a test of the trend extreme. The EURUSD Forex is […]
Emini’s November parabolic wedge reversal should be minor
Trading Update: Wednesday November 10, 2021 Emini pre-open market analysis Emini daily chart Monday was a sell signal bar for a parabolic wedge reversal buy climax that was testing the top of the 6-month bull channel. Yesterday triggered the sell signal by breaking below Monday’s low. Since yesterday closed below its midpoint and below Monday’s […]
Emini at top of parabolic wedge and bull channel
Trading Update: Monday November 8, 2021 Emini pre-open market analysis Emini daily chart Parabolic wedge and bull channel rally (October 7, October 26, November 5) at top of bull channel (May 7, September 2, November 5). Probably 1 to 3 days of profit taking this week, possibly started on Friday. Friday was a bear bar […]
Emini parabolic wedge buy climax at top of bull channel
Al added some comments to report Market Overview: Weekend Market Analysis The SP500 Emini futures daily chart is in a very strong bull trend. However, there is now an Emini parabolic wedge buy climax and it is at the top of a bull channel. This should attract some profit taking next week, but the reversal […]
Emini possible minor reversal from parabolic wedge buy climax after FOMC
Trading Update: Friday November 5, 2021 Emini pre-open market analysis Emini daily chart Extremely strong bull trend. Will gap up today. Parabolic wedge buy climax that is testing top of tight bull channel at 4693 created by October 7 and September 2 highs. Next targets are 4700 Big Round Number and top of channel created […]