Trading Update: Thursday May 19, 2022 Emini pre-open market analysis Emini daily chart Emini yesterday was a big bear trend day reversing the past three trading days. This is a sign that the market may have to go lower and likely reach 20% correction (3,839.75). May 18 is a big enough surprise bar to increase […]
Emini at resistance and likely to disappoint bulls today
Trading Update: Wednesday May 18, 2022 Emini pre-open market analysis Emini daily chart Emini at resistance with yesterday’s bulls getting within 10 points of the February 24 low. There will likely be some profit-taking in this area from scale in bulls who bought betting against the bear breakout below February 24. Since the market is […]
Emini testing back into bottom of 3-month trading range
Trading Update: Tuesday May 17, 2022 Emini pre-open market analysis Emini daily chart Emini yesterday was a doji bar following Friday’s entry bar. This is disappointing for bulls and a sign of trading range price action. The market is getting near the bottom of the 3-month trading range (February – April) and will likely test […]
Emini reversing up from 19% correction
Trading Update: Monday May 16, 2022 Emini pre-open market analysis Emini daily chart The Emini reversed up over the past two trading days from a 19% correction. The bulls hope that Thursday will be the low of the next several weeks and possibly months. While this may be the low, the channel down from the […]
Emini weak breakout bar below 9-month trading range
The S&P 500 Emini futures broke below the 9-month trading range this week but closed as a reversal bar with a bear body and a long tail below. The selling has been climactic. The bulls hope that a 2 legged sideways to up pullback will begin soon. The bears will need to create another bear bar to confirm the breakout below the trading range.
Emini likely bounce for a day or two
Trading Update: Friday May 13, 2022 Emini pre-open market analysis Emini daily chart The Emini yesterday closed as a bull reversal bar with a big tail above. While the signal bar looks weak, the context is good for at least an Emini likely bounce for a day or two. Yesterday reached a 19% correction on […]
Emini closed below March 2021 gap on monthly chart
Trading Update: Thursday May 12, 2022 Emini pre-open market analysis Emini daily chart The market closed below the March 2021 high, which was a gap on monthly chart. Bears have three consecutive bear bars, which is a sign of strong selling. The market has a 6-bar bear micro channel which is another sign of strength. […]
Emini testing March 2021 gap
Trading Update: Wednesday May 11, 2022 Emini pre-open market analysis Emini daily chart Emini testing March 2021 gap on the daily chart yesterday. The bears want to close below the gap as well as the March 17, 2021, breakout point, which would demonstrate the strength of the bears. The bears closed below the three-month […]
Emini close below 4,000 for first time in over a year
Trading Update: Tuesday May 10, 2022 Emini pre-open market analysis Emini daily chart Emini close below 4,000 for the first time in over a year. Bears hope this will lead to a successful bear breakout and measured move down from the February – March trading range, which would test the 3,600-price level. The market has […]
Emini market testing May 2 low
Trading Update: Monday May 9, 2022 Emini pre-open market analysis Emini daily chart Friday closed as a doji bar with a small bull body around the May 2 low. Emini market testing May 2 low and bulls hope the market is forming a double bottom, which will lead to a test of the May 4 […]
