The S&P 500 Emini futures gaped down and close as a follow-through big bear bar near the low on the weekly chart. It is a sign of strength by the bears. Bears want this to be the start of the bear leg testing June low. They want consecutive bear bars closing near the low like the one in April. Bulls want at least a small second leg sideways to up testing Aug high.
Emini Bulls Strong Follow-through Bar Wanted Today
Trading Update: Friday August 26, 2022 Emini pre-open market analysis Emini daily chart The bulls got a strong rally into the close yesterday, which caused yesterday to close on its high. Bulls strong follow-through bar wanted today to increase the odds of testing the August high. This is good for the bulls and increases the […]
Emini may go sideways around midpoint of year
Trading Update: Thursday August 25, 2022 Emini pre-open market analysis Emini daily chart The Emini may go sideways as the market will likely bounce and test the midpoint of the year around 4,220. The midpoint of the year is an important magnet, and the market may have difficulty getting far away from it. The bears […]
Emini bulls want rally up to 4,200
Trading Update: Wednesday August 24, 2022 Emini pre-open market analysis Emini daily chart The market had a bear close yesterday, but it was a doji close near the open of the day. This is a sign of loss of momentum by the bears and increases the odds that the market will bounce soon and bears […]
Emini likely bounce to form lower high
Trading Update: Tuesday August 23, 2022 Emini pre-open market analysis Emini daily chart Emini likely bounce to form lower high. Yesterday was a good bar for the bears and increases the odds that the first reversal up will fail and lead to a lower high. The market is testing down to support and may have […]
Emini strong enough selloff to expect 2nd leg down
Trading Update: Monday August 22, 2022 Emini pre-open market analysis Emini daily chart Emini strong enough selloff on daily chart, likely forming a pullback down to the 4,000 big round number. The overnight selloff on the daily chart increases the odds that the first reversal up will fail and lead to a 2nd leg down. […]
Emini Bear Reversal Bar at Major Bear Trend Line
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures tested above May 4 high with Emini bear reversal bar just shy of the major bear trend line. Bears want a reversal lower from a wedge bear flag (June 28, July 29 and Aug 16), but the move up is in a tight bull channel. The […]
Bears want close below week open
Trading Update: Friday August 19, 2022 Emini pre-open market analysis Emini daily chart The open of the week (4,258.25) will be important today. The bulls have four consecutive bull bars on the weekly chart, and the bears want close below week open, and will try their best to end the bull streak. Traders should pay […]
Emini exhausted with likely pullback
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 […]
