Trading Update: Monday September 19, 2022 Emini pre-open market analysis Emini daily chart The market reversed up late Friday, painting a tail on top of the bar. The market will likely have to reach the September 6 breakout point soon and close the open gap with wedge bottom likely rally and test of 4,000. The […]
Emini Big Bear Outside Bar – OO Breakout Mode
The S&P 500 Emini futures traded above last week’s high but reversed to close below last week’s low, closing as a big outside bear bar. There is now an OO (outside-outside pattern). The Emini is in breakout mode. The bar sometimes after an outside bar is an inside bar, forming an ioi (inside, outside, inside) pattern, which is also a breakout mode. Traders will be monitoring whether the bears get a consecutive bear bar or fail to do so. If the bears get it, the odds of a test of the June low increase.
Emini likely rally back to 4,000 big round number soon
Trading Update: Friday September 16, 2022 Emini pre-open market analysis Emini daily chart The bears have done an excellent job disappointing the bulls. However, the market is in a broad trading range, so the bears will probably be disappointed soon. Emini likely rally back to the 4,000 big round number soon. The reason is that […]
Emini bears want strong close follow-through
Trading Update: Thursday September 15, 2022 Emini pre-open market analysis Emini daily chart As expected, yesterday was a disappointment for the bears, confirming the market is still in a broad trading range on the daily chart. While the bears failed to get follow-through yesterday, they will try hard to get a strong close follow-through today. […]
Emini bears likely disappointed after yesterday’s impressive selloff
Trading Update: Wednesday September 14, 2022 Emini pre-open market analysis Emini daily chart Yesterday was a very impressive bear selloff, completely reversing the recent four consecutive bull trend bars. But bears likely disappointed after selloff today. The selloff from yesterday is a strong enough surprise that the market will likely have a second leg down. […]
Emini big selloff after CPI report
Trading Update: Tuesday September 13, 2022 Emini pre-open market analysis Emini daily chart Emini big selloff after bulls got a fourth consecutive bull bar, all closing near their highs. The rally was testing the August 24 low. Yesterday came within one tick of the August 24 low and turned down. The market will probably have […]
Emini likely to reach August 24 low soon
Trading Update: Monday September 12, 2022 Emini pre-open market analysis Emini daily chart The bulls have three consecutive bull bars, all closing near their highs. This is good for the bulls, and the market is currently Always In Long. The bulls want to close the August 24 breakout point low, and eventually, they want to […]
Emini Outside Bull Bar Closing near High
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures traded below last week’s low but reversed into an Emini outside bull bar closing near the high. Bulls want a reversal higher from a higher low major trend reversal. The bears want at least a small second leg sideways to down following the recent strong sell-off. […]
Emini bulls want strong finish to week
Trading Update: Friday September 9, 2022 Emini pre-open market analysis Emini daily chart The market formed a double bottom with the July 26 low, with two consecutive bull bars closing on their highs. This is good for the bulls, but they need more as bulls want strong finish to week. The market will probably have […]
Emini bulls likely disappointed today
Trading Update: Thursday September 8, 2022 Emini pre-open market analysis Emini daily chart The bulls had a solid finish to the day yesterday, reversing most of the September 2 selloff. The channel down is tight, so the odds favor the bulls likely disappointed today, and the market will probably not form a strong follow-through bar […]