Trading Update: Tuesday November 1, 2022 Emini pre-open market analysis Emini daily chart The Emini has been in a tight bull channel for several bars and is so close to the 4,000 big round number magnet that it may be unable to escape that target’s gravitational pull. While the rally up to October 28 is […]
Emini will probably need to reach 4,000
Trading Update: Monday October 31, 2022 Emini pre-open market analysis Emini daily chart The Emini got back to 3,900 last week and will probably have to reach 4,000 sometime this month. While the rally from October 13th is strong, it is still more likely a leg in a trading range than a bull trend. The […]
Emini Strong Follow-through Bull Bar
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures bulls got a strong follow-through bull bar following last week’s High 2 buy entry. Since this week closed near its high, odds slightly favor the Emini to trade at least a little higher. If the bulls continue to create strong consecutive bull bars closing near their […]
Emini Triggered H2 Buy Signal but Trading Range
The S&P 500 Emini futures triggered the H2 buy signal on the weekly chart. The bulls need to create a follow-through bull bar to increase the odds of higher prices. Bears want a reversal lower from a double top bear flag with Oct 5 high or around the bear trend line. The Emini is forming a small trading range around the June low between 3500 and 3800. Traders will BLSH (Buy Low, Sell High) until there is a breakout from either direction.
Emini testing 50% pullback of October 18 rally
Trading Update: Friday October 21, 2022 Emini pre-open market analysis Emini daily chart The market is testing a 50% pullback of the rally to the October 18 high. The bulls will try their best to get a reversal up here and the bears want the day to close on its low, below the 50% pullback […]
Emini Bulls want breakout above neckline
Trading Update: Thursday October 20, 2022 Emini pre-open market analysis Emini daily chart Yesterday ended, the four-bar bull micro channel and closed as a doji bar. The bulls saw yesterday as a High 1 buy setup. However, the bar is a doji bear near resistance, top of the trading range, and the October 5 high. […]
Emini bulls poor follow-through from October 13 breakout
Trading Update: Wednesday October 19, 2022 Emini pre-open market analysis Emini daily chart The bulls gapped up yesterday, and the market sold off from the opening session and closed around its midpoint. But bulls poor follow-through, and a disappointing bar being a reminder that the market is still in a trading range environment. The bears […]
Bulls trying for upside breakout test of 3,800
Trading Update: Tuesday October 18, 2022 Emini pre-open market analysis Emini daily chart Yesterday, the market rallied and tested last Thursday’s bull close. The bulls see last Friday as a pullback from the rally on October 13. They want the market breakout to the upside and reverse Friday’s bear breakout bar. At the moment, the […]
Emini Bulls Want Rally to Test October 13 Close
Trading Update: Monday October 17, 2022 Emini pre-open market analysis Emini daily chart Friday was a disappointing bar and bad follow-through for the bulls. They want rally to test October 13 close. The bears hope that Thursday was a pullback from the breakout and test of 3,500, and they want today to trigger the short […]
Emini Weak Second Breakout Attempt below June Low
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures bears got a weak second breakout attempt below the June low, however, the weekly candlestick had a long tail below. The first 2 legs of the wedge had at least 3 candlesticks. Unless there is a surprisingly big reversal up, the bears expect this leg to […]