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Emini: Weak Sell Signal Bar Ahead Of FOMC Meeting

By Al BrooksStock MarketsJun 08, 2018 09:18AM ET
www.investing.com/analysis/emini-weak-sell-signal-bar-ahead-of-fomc-meeting-next-week-200323310
Emini: Weak Sell Signal Bar Ahead Of FOMC Meeting
By Al Brooks   |  Jun 08, 2018 09:18AM ET
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Pre-Open market analysis

The Emini sold off yesterday after Wedesday’s buy climax, but it reversed back up late in the day. Since it has a bear body, it is a sell signal bar on the daily chart. However, it is only a bear doji bar, which is a weak sell setup. Furthermore, after 4 bull days, the Emini will probably not fall far today. The Emini might begin to go sideways into Wednesday’s FOMC meeting.

Overnight Emini Globex trading

The Emini is down 8 points in the Globex market. The past several days on the daily chart are important for today. A big bull trend day is unlikely today after a bear doji day yesterday and a buy climax Wednesday. Also, a big bear day is unlikely after a bear doji and 4 bull days.

In addition, yesterday was mostly a trading range day, which increases the chance of a trading range day today. Finally, with the uncertainty of Wednesday’s FOMC announcement, the Emini will probably go sideways for the next few days.

Yesterday’s setups

Here are several reasonable stop entry setups from yesterday. I sometimes also show limit order entries and entries on the close of bars.

Emini exhaustive sell climax after parabolic wedge top
Emini exhaustive sell climax after parabolic wedge top

Emini: Weak Sell Signal Bar Ahead Of FOMC Meeting
 

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Emini: Weak Sell Signal Bar Ahead Of FOMC Meeting

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