Market Overview: Nifty 50 Futures Nifty 50 failed major trend reversal on the monthly chart. Bears tried to reverse the bull trend by selling lower high double top, but failed to cause a reversal. Rather bulls are now trying to resume the bull trend, by forming consecutive bull bars closing near their high. Nifty 50 […]
Emini first reversal down likely to fail
Trading Update: Tuesday August 2, 2022 Emini pre-open market analysis Emini daily chart The Emini has had a 5-bar bull micro channel with four consecutive bull bars. The odds are beginning to favor at least a minor pullback soon, with Emini first reversal down likely to fail. The odds also favor a test of the […]
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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 strong reversal up from breakout below January OO sell signal bar
Trading Update: Friday February 25, 2022 Emini pre-open market analysis Emini daily chart Yesterday reversed up strongly from a breakout below the January OO sell signal bar on the monthly chart. That low was also the bottom of a 7-month trading range. Yesterday was a big bull bar closing near its high. It is therefore […]
Emini strong reversal up from October 2021 low
Trading Update: Tuesday January 25, 2022 Emini pre-open market analysis Emini daily chart Emini had a 200-point bull reversal day yesterday after falling below the October 2021 lows. A strong reversal up. Bulls are hoping the selloff from January 4 to yesterday’s bull reversal bar is a large 2nd leg trap that will lead to […]
Emini July reversal should lead to 15% correction back to 2020 close
Trading Update: Tuesday July 20, 2021 Emini pre-open market analysis Emini daily chart Big gap down and big bear bar with possible Emini July reversal. This is after a big bear bar on Friday. However, yesterday closed above the middle of its range, increasing the chance of a further bounce today. It is a weak […]
