Market Overview: NASDAQ 100 Emini Futures The NASDAQ Emini futures market has had consecutive bull trend bar closes above the weekly exponential moving average (EMA) for the first time this year. Bulls reached target of monthly EMA which may now act as resistance. Every day this week was a bull day, although with enough trading […]
Nifty 50 measuring gap
Market Overview: Nifty 50 Futures Nifty 50 measuring gap on the weekly chart formed another bull bar (this time a small one) and continued the bull micro channel after breaking above the bear channel (red). Currently, Nifty has achieved measuring gap and measured move target, so one can expect some profit taking at this level, […]
Emini second leg sideways to up pullback
The S&P 500 Emini futures traded higher from a higher low major trend reversal. Bulls need to create a consecutive bull bar (follow-through buying) next week, something they have failed to do since March. The bear trend line and 20-week exponential moving average remain resistances above. If next week closes as a bear bar instead, it will mean the bulls failed to get follow-through buying yet again. Odds of a re-test of June low increases.
Nifty 50 futures increasing trading range price action
Market Overview: Nifty 50 Futures The Nifty 50 futures after giving a breakdown of bull micro channel on monthly chart now showing increasing trading range price action, and also forming micro double bottom after a Low 3. Nifty 50 on the weekly chart came to support area but weak reversal up without bull strength, which was clearly […]
Emini in 7-bar bull micro channel on weekly chart
Market Overview: Weekend Market Analysis The SP500 Emini is testing the November 5 high. The bears want a reversal down from a higher high double top, and the bulls want the rally to continue up to the top of the bull channel. Since the Emini is in a bull trend (with 7-bar bull micro channel […]
Emini with 11-bar bull micro channel in early July
Trading Update: Tuesday July 6, 2021 Emini pre-open market analysis Emini daily chart 11-bar bull micro channel (every low at or above low of prior day). 60-minute chart has 69 bars above EMA so buy climax. Both are unusual and therefore unsustainable and buy climaxes. Should get a pullback this week. Since strong bull trend, […]
Emini has 8-day bull micro channel at end of June
Trading Update: Wednesday June 30, 2021 Emini pre-open market analysis Emini daily chart I have been saying since last Monday that the Emini was likely to be strongly up through the 4th of July. It could reach the 4,400 measured move target before there is a correction. The past 5 days were small, but each […]
