Market Overview: FTSE 100 Futures The FTSE futures market last week was a FTSE 100 bull inside bar closing on its high. With a tight trading range above we should reach that magnet before traders decide. The bulls see trend resumption up from support at the 100-week moving average. The bears see consecutive big bear bars […]
DAX 40 Bull Inside Bar, Double-Bottom Buy Signal
Market Overview: DAX 40 Futures DAX futures was a DAX 40 bull inside bar, a double bottom buy signal on the weekly. It’s a second entry long setup which is a reasonable entry on this timeframe, but it’s been lower lows all year so a difficult trade to make. We are slightly above the harmonic […]
Emini failed breakout below inside bar on weekly chart
The S&P 500 Emini futures broke below the prior week’s bull inside bar but reversed to close near the high. It is likely a failed breakout from the i pattern. Bulls want a reversal higher from a wedge bottom and a trend channel line overshoot. They want at least another leg higher from a higher low major trend reversal. The bulls will need to create consecutive bull bars closing far above the June 28 high to increase the odds of a test of the June 2 high.
DAX bear inside bar at 13000
Market Overview: DAX 40 Futures DAX futures was a Dax bear inside bar at the 13000 big round number. Although the bear trend is still in effect we have been going sideways for a few weeks now. The bulls are starting to get daily consecutive bull bars so we might see a break next week. […]
Emini bull inside bar on weekly chart
The S&P 500 Emini futures weekly candlestick was a bull inside bar closing near the high. Bears failed to create follow-through selling this week. Bulls want a consecutive bull bar next week, something they have failed to do since April. They want a reversal higher from a trend channel line overshoot and a wedge bottom (Feb 24, May 20 and June 17). Since this week was an inside bar, the Emini is in breakout mode. The bear trend line remains a resistance above.
Nifty 50 futures breakout above inside bar
Market Overview: Nifty 50 Futures The Nifty 50 futures on the weekly chart is currently trading near major support, has formed an inside bar, and with potential breakout above inside bar. The market could move 2 legs upside from here. On daily chart, the NIFTY 50 is still in a broad bear channel and has completed 2 […]
Nifty 50 futures disappointed bulls on failed 2nd entry long
Market Overview: Nifty 50 Futures The Nifty 50 futures gave an bear close for the month with disappointed bulls on failed 2nd entry long, bears now much confident after bad follow through after High 2 buy signal bar. Monthly chart gave an downside breakout of a tight bull channel 6 months ago but heading sideways […]