Market Overview: Nifty 50 Futures Nifty 50 possible pullback after the bull breakout of the swing high. The market gave a strong breakout of the swing high with 6 consecutive bull bars, and the market is still in 7-bar bull micro channel. Nifty 50 on the daily chart was in the very strong tight bull […]
Emini Surprise Breakout Testing 4,000 Big Round Number
Trading Update: Friday November 11, 2022 Emini pre-open market analysis Emini daily chart Emini 5-minute chart and what to expect today Yesterday’s Emini setups Here are several reasonable stop entry setups from yesterday. I show each buy entry with a green rectangle and each sell entry with a red rectangle. Buyers of both the Brooks […]
Emini Surprise Upside Breakout during Globex Market
Trading Update: Thursday November 10, 2022 Emini pre-open market analysis Emini daily chart Emini 5-minute chart and what to expect today Yesterday’s Emini setups Al created the SP500 Emini charts. Here are several reasonable stop entry setups from yesterday. I show each buy entry with a green rectangle and each sell entry with a red […]
Nifty 50 Futures ioi Pattern
Market Overview: Nifty 50 Futures Nifty 50 futures ioi pattern (inside-outside-inside bar) formed on the monthly chart. The market gave a strong bull close but is currently near the trading range top, so traders would wait for a good follow-through bar (or breakout) before taking any position. The Nifty 50 on the weekly chart gave […]
Crude Oil Strong Rally, Bulls Need Follow-through
Market Overview: Crude Oil Futures Crude oil strong rally reversed higher closing above the bear trend line and the 20-week exponential moving average. The bulls need to create a follow-through bull bar to increase the odds of higher prices. Bears want a reversal lower from a double top bear flag with August 30 or July 29 […]
Emini Surprise Breakout Second Leg Up Likely
Trading Update: Wednesday October 5, 2022 Emini pre-open market analysis Emini daily chart The bulls have gotten a strong reversal over the past two trading days. The upside Emini surprise breakout is strong enough that the first reversal down will likely fail and lead to a second leg up. At the moment, the odds favor […]
Emini Breakout below OO Pattern
The S&P 500 Emini futures broke out below the OO (outside-outside) pattern and tested close to the June low. The June low is close enough to be a magnet. Bulls want a reversal higher from a double bottom major trend reversal. However, because of the strong sell-off, the bulls will need a strong reversal bar or at least a micro double bottom before they would be willing to buy aggressively.
Emini Testing Breakout Point of September 6
Trading Update: Tuesday September 20, 2022 Emini pre-open market analysis Emini daily chart Emini market is reversing up and testing breakout point of the September 6 low. This is probably the start of a couple of legs sideways to up. The bears will try and keep the September 6 breakout gap open, however, it will […]
Nifty 50 Futures Breakout Gap
Market Overview: Nifty 50 Futures Nifty 50 futures breakout gap on the weekly chart confirmed by forming consecutive bull bars near the top of the developing trading range, which is more likely to get converted to an exhaustion gap. On the daily chart, the market formed a triangle late in the trend, and also there […]
DAX 40 Breakout Test of the Prior Trading Range
Market Overview: DAX 40 Futures DAX futures reversed strongly closing on the lows so it’s a sell signal on the monthly chart. It’s a DAX 40 breakout test of the prior trading range of January 2021. The bears want a move back into that range, a failed wedge bottom. The bulls see support at the […]
