Emini and Forex Trading Update:Wednesday April 15, 2020 I will update again at the end of the day. Pre-Open market analysis After an early selloff yesterday, the Emini reversed back up. The 4 week bull trend has been strong. Also, the 50 day simple moving average and the March 10 lower high are magnets above. […]
Emini testing above 50% pullback and 20% correction
Emini and Forex Trading Update:Tuesday April 14, 2020 I will update again at the end of the day. Pre-Open market analysis The Emini yesterday formed a triangle on the 5 minute chart. That is a Breakout Mode pattern. There was a small bull breakout at the end of the day and it continued overnight. Yesterday […]
Emini bear rally retraced 50 percent of coronavirus crash
Emini and Forex Trading Update:Monday April 13, 2020 I will update again at the end of the day. Pre-Open market analysis A few weeks ago, I said that the parabolic wedge sell climax on the daily chart would lead to a strong reversal. I said the rally should reach 2706, which is 20% down from […]
Emini wedge rally to 50% retracement of coronavirus crash
Market Overview: Weekend Market Update The Emini has reversed up strongly for 3 weeks. There is no top yet. However, the rally is probably a bull leg in what will become a trading range. Traders should expect a 2 week bear leg to begin by the end of the month. Bond futures had a blow-off […]
Emini should test 50 percent pullback from bear trend
Emini and Forex Trading Update:Thursday April 9 I will update again at the end of the day. Pre-Open market analysis The Emini yesterday formed a bull trend resumption day. It totally reversed Tuesday’s selloff. The next target is 2781, which the Emini reached right before the open. That is a 50% retracement of the 2 […]
Emini stalling at the 2706 20% selloff level
Emini and Forex Trading Update:Wednesday April 8, 2020 I will update again at the end of the day. Pre-Open market analysis Yesterday gapped above my target of 2706.00 and immediately sold off. It closed the gap above Monday’s high and closed near the low. That 2706 level is 20% down from the high. As long […]
Emini 3 day island bottom and testing 20% pullback level
Emini and Forex Trading Update:Tuesday April 7, 2020 I will update again at the end of the day. Pre-Open market analysis Yesterday gapped up and created a 3 day island bottom. I have been saying for 2 weeks that there would be a reversal up to above 2706.00. The Emini is above that level in […]
Emini weak Low 1 sell setup after March sell climax
Emini and Forex Trading Update:Monday April 6, 2020 I will update again at the end of the day. Pre-Open market analysis The Emini had a 7 day rally to the EMA on the daily chart last week and sold off for 3 days. But since there were no pullbacks in the rally, the bulls were […]
Ask Al: Depression? Recession? Where are we heading?
Trading room commentary: April 1, 2020 Commentary: Depression? Recession? Where are we heading?Video duration: 8min 7sec The market is going lower Remember I said on the 60-minute chart [last week] that I thought we had to go lower. I thought we really needed to get to this low or a little bit below, and maybe […]
Emini 2nd leg up to 2706.00 after March sell climax
Market Overview: Weekend Market Update The Emini will probably form a higher low after the extreme sell climax in March. The 1st target is 2706.00, which is 20% down from the high. Last week is a sell signal bar on the weekly chart. But there will probably be buyers below its low for a 2nd […]
