Friday, January 22

Tag: Weekend Market Reports

Emini strong January rally breakout above bull channel should fail
Strategy

Emini strong January rally breakout above bull channel should fail

  The SP500 Emini futures bull trend is strong and traders expect higher prices. But it is breaking above bull channels on the daily and monthly charts, and any breakout above bull channel typically fails by about 5 bars. The bond futures market is breaking below a 9-month triangle and a bull trend line. If there is follow-through selling next week, traders will expect a measured move down. The EURUSD Forex market is stalling at the top of a 6-year trading range. If the rally does not accelerate soon, traders will look for a 3-week pullback. 30-year Treasury Bond futures Bond futures on weekly chart broke below a 9-month trading rangeBond futures on the weekly candlestick chart finally broke below their 9-month trading range this week. While I have been saying that the bond market will b...
Market Overview: Weekend Market Analysis
Strategy

Market Overview: Weekend Market Analysis

The SP500 Emini futures chart closed 2020 at a new all-time high. That increases the chance of a gap up next week on the daily, weekly, monthly, and yearly charts. However, if there is a strong rally in early January, it will probably soon lead to a profit-taking pullback down to 3500.Bond futures on the weekly chart are at the apex of a 10-month triangle. There should be a breakout in January. There is a 50% chance that it will be up and a 50% chance it will be down.The EURUSD Forex has rallied strongly since March, but there is a nested wedge top. That often leads to profit taking. This week’s bear outside down bar might be the start of a pullback to the November low at around 1.16.30-year Treasury Bond futuresBond futures on weekly chart are at the apex of a triangle, with...
The Emini might finish 2020 at new all-time high
Stock

The Emini might finish 2020 at new all-time high

The SP500 Emini futures are at a measured move target, and there is a nested wedge top on the weekly chart. Also, the 5-week rally on the daily chart has not been very strong. Traders should expect a pullback to below 3500 to begin by early January after a possible 2020 new all-time high.Bond futures on the weekly chart are at the apex of a 10-month triangle, and just above a 2-year bull trend line. They should break up or down by the end of January.The EURUSD Forex market on the weekly chart has rallied strongly from the March low. However, the rally is in a nested wedge bull channel. That typically results in a bear breakout, and a couple legs down. While the bull trend is still intact, traders should be ready for a possible reversal down in January.30-year Treasury Bond futures ...