Market Overview: EURUSD Forex EURUSD tight bull channel up formed testing the February 2 high. The bulls have a 5-bar bull micro channel which means strong bulls. Odds slightly favor buyers below the first pullback from such a strong micro channel. The bears want a reversal down from a higher high major trend reversal, but […]
Nifty 50 Channel Breakout
Market Overview: Nifty 50 Futures Nifty 50 channel breakout on the weekly chart. On the weekly chart, the market gave a strong bullish close, continuing the bulls’ attempt to reverse the trend. At the moment, the market is trading close to the 50% pullback of the bear channel, which might act as a level of […]
FTSE 100 Big Bull Micro Channel Testing BO Point from TTR
Market Overview: FTSE 100 Futures The FTSE futures market has been in a big bull micro channel since it hit the 100-week MA. We now have 2 open micro-gaps between the weeks, creating a layer of support at the prior top of the trading range. This supports the bull case for going higher. The bears know […]
EURUSD Bear Reversal Bar
Market Overview: EURUSD Forex The EURUSD Forex February monthly candlestick was a EURUSD bear reversal bar. The bears want this to be the start of the deeper pullback. Odds slightly favor the 6-bar bull micro channel streak to end soon. The bulls want any pullback to be shallow and sideways. If they get that, the […]
Nasdaq 100 Pullback in Bull Micro Channel
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures market had a bear breakout from the sideways bars of the past two weeks to begin the Nasdaq 100 pullback of the bull micro channel of the past 6 weeks. The month is now a Low 2 bear doji reversal bar at the monthly exponential […]
Nasdaq 100 Continued Pause in Bull Micro Channel at Monthly EMA
Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures continued pause with another doji week sideways at the monthly exponential moving average (EMA). The month so far is a bull bar with a big tail above. As expected, the upside was limited given big sideways bars in the previous few months. It is likely […]
Nasdaq 100 Pause in Bull Micro Channel at Monthly EMA
Market Overview: NASDAQ 100 Emini Futures NASDAQ 100 pause on weekly Nasdaq 100 Emini futures chart at the monthly exponential moving average (EMA) after 4 weeks of bull bars. This week was an opportunity for the bulls to break strongly above the monthly EMA, although given the strong move up for the last two weeks, […]
DAX 40 Bull Micro Channel Possible Wedge Top
Market Overview: DAX 40 Futures DAX futures was a bull micro channel and a possible wedge top. It is a low probability sell signal, taking a chance that it is a wedge and failed breakout above a double top. But most traders expect higher prices, so bulls will scale in lower, knowing it is unlikely […]
Nasdaq 100 Monthly 3-Bar Bull Micro Channel
Market Overview: NASDAQ 100 Emini Futures The January monthly NASDAQ Emini futures is a bull trend bar with small tails above and below. The January month created a 3-bar bull micro channel – the low of each bar higher than the low of prior bar going back to October. The body overlaps the body of […]
Emini 5-Bar Bull Micro Channel
Market Overview: S&P 500 Emini Futures The S&P 500 Emini futures weekly chart is in a 5-bar bull micro channel. The bulls see this week as a pullback and want another leg higher testing the December high. Bears want a reversal down from a lower high major trend reversal. S&P500 Emini futures The Weekly S&P 500 Emini […]
