Market Overview: Nifty 50 Futures Nifty 50 possible pullback after the bull breakout of the swing high. The market gave a strong breakout of the swing high with 6 consecutive bull bars, and the market is still in 7-bar bull micro channel. Nifty 50 on the daily chart was in the very strong tight bull […]
Nasdaq 100 Second Leg of Pullback
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures market resumed the second leg of pullback by going above last week’s high and closing below last week’s low – an outside down bar. As was mentioned in last week’s report, sellers were expected above last week’s high, and they came in at the weekly […]
Nasdaq 100 Pause in Pullback
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures had a pause in pullback this week after two weeks of pullback. The market had a strong move up from June, so there should be a second leg up after this pullback. At the same time, the pullback since August is strong enough that it […]
Nasdaq 100 below All EMAs
Market Overview: NASDAQ 100 Emini Futures NASDAQ 100 below all EMAs, pulling back this week for the first time in the last ten weeks. A pullback was expected, although the bears have created consecutive good bear bars closing on their lows. The market is also back below the daily, weekly, and monthly exponential moving average […]
Emini pullback before test of June 2 high
Trading Update: Friday August 5, 2022 Emini pre-open market analysis Emini daily chart The market is beginning to stall just under the June 2nd high and may have to pullback before test of the high. While the rally up to the June 2nd high has been strong, it is beginning to form a parabolic wedge, […]
FTSE 100 bull trend pullback at 20-month moving average
Market Overview: FTSE 100 Futures The FTSE futures market was a bull trend pullback at the 20-Month Moving Average (MA.) We are still always in long on the monthly and weekly charts but sideways, so limit order market above and below bars. Although this month looks like it is setting up a stop entry, there has […]
Emini second leg sideways to up pullback
The S&P 500 Emini futures traded higher from a higher low major trend reversal. Bulls need to create a consecutive bull bar (follow-through buying) next week, something they have failed to do since March. The bear trend line and 20-week exponential moving average remain resistances above. If next week closes as a bear bar instead, it will mean the bulls failed to get follow-through buying yet again. Odds of a re-test of June low increases.
EURUSD sideways at wedge bottom pullback
The EURUSD Forex broke below the 2017 low with follow-through selling recently. The bulls want a reversal higher from a wedge bottom (Mar 4, May 13 and July 14) and a trend channel line overshoot. However, the move down is in a tight bear channel. That means strong bears. Odds slightly favor lower prices for the EURUSD after a larger pullback.
Bitcoin pullback after stalled at major support
Market Overview: Bitcoin Futures Bitcoin pullback finally became a reality after the price stalled at major support. Traders expect the price to reach $28800 during the upcoming months. Bitcoin futures The Weekly chart of Bitcoin futures Traders still think that the Bear Trend on the Weekly chart is contained within a Trading Range; therefore, the […]
FTSE 100 double top pullback testing prior breakout
Market Overview: FTSE 100 Futures The FTSE futures market was a double top pullback testing the prior breakout. We have been going sideways for many weeks now so it’s a tight trading range ready to break out either way. The longer we go sideways the less steam the bears might have to push down further. The […]
