Trading Update: Thursday August 18, 2022 Emini pre-open market analysis Emini daily chart Emini exhausted with likely pullback 300 points down before it rallies another 300 points. It is important to remember that exhaustion means the market went too far too fast. Exhaustion often leads to trading range price action and not an opposite trend. […]
Emini likely profit taking at 200-day moving average
Trading Update: Wednesday August 17, 2022 Emini pre-open market analysis Emini daily chart The Emini is testing the 200- day moving average on the daily chart for the first time since April 21 of this year. There will likely be profit taking, however any selloff will likely be minor. The market has multiple resistance levels […]
Emini racing up to April 18 low
Trading Update: Tuesday August 16, 2022 Emini pre-open market analysis Emini daily chart Emini racing up to April 18 low. Bulls got a strong trend bar yesterday and are getting close to the top of the bear channel (4,350 area); the odds are the market will have to reach the bear trendline above. The market […]
Emini testing bull channel top
Trading Update: Monday August 15, 2022 Emini pre-open market analysis Emini daily chart Emini testing bull channel top, with strong close last week. Bulls are trying their best to reach 4,300 and top of bull channel from the January high and the March 29 high. The rally is becoming exhaustive, increasing the odds of a […]
EURUSD breakout point test sideways to up
The EURUSD Forex continue trading sideways to up, testing the May breakout point. The current pullback has a lot of overlapping price action, indicating that the bulls are not strong yet. The bulls need to create consecutive bull bars closing near their highs and trading back into the 10-week trading range to increase the odds of a failed breakout below the 2017 low. If the pullback remains sideways, odds are the bears will get a second leg sideways to down re-testing July low.
Emini possibly sideways trading range soon
Trading Update: Friday August 12, 2022 Emini pre-open market analysis Emini daily chart Emini possibly sideways trading range soon. The market broke above the midpoint of the year (4,220) and closed near its low yesterday. While the market is in a small pullback bull trend, the odds favor the market forming a trading range soon […]
Emini testing year midpoint
Trading Update: Thursday August 11, 2022 Emini pre-open market analysis Emini daily chart Emini testing year midpoint. The market closed above the June 2 high yesterday, which is good for the bulls. The next target for the bulls is the 50% pullback of the January 2022 high and the June 17 low, which is around […]
Emini bulls want close above June high today
Trading Update: Wednesday August 10, 2022 Emini pre-open market analysis Emini daily chart Update after 5:30 AM PT report: The bulls got a strong close above the August 8th high and June 2 high. Bulls want close above June high today. The Emini tested the June 2nd high two days ago, forming a bear bar […]
Emini may need correction down to 4,000 soon
Trading Update: Tuesday August 9, 2022 Emini pre-open market analysis Emini daily chart The Emini went above the June 2 major high low yesterday and reversed down. Since the rally is climactic, the market may need correction down to 4,000 to find more buyers. Now, traders will agree that the market is either in a […]
Emini likely to reach June high today
Trading Update: Monday August 8, 2022 Emini pre-open market analysis Emini daily chart Emini likely to reach the June 2 high today, and go at least one point above it. June 2 is a major lower high, and if the bulls go above it, they can argue that the market is either in a bull […]
