Entries by mcm-Alex

mcm daily market update 20.Sep.21

ST trend: down (with potential bottoming attempt) On Friday we were noting that the ST trend was neutral, as buyers were in the middle of a bounce from bullish EE on FGSI. They failed at the retest of the prior high and then kept painting bearish EE on each bounce, and they all held and […]

mcm daily market update 13.Sep.21

ST trend: neutral On Friday we were mentioning that the ST trend was neutral as buyers managed to win back ML and sellers were also looking inefficient via FGSI. The cash open saw another BE (buyer exhaustion) early on and price was rejected very strongly there. Buyers lost ML which was the confirmation that the […]

mcm daily market update 10.Sep.21

ST trend: neutral The last 2 days we were noting that the trend was down with potential bottoming attempts. Both times sellers took control and broke through those bottoming attempts to make lower lows. We again had an unconfirmed low on FGSI (so potential bottoming attempt) yesterday heading into the cash close and buyers stepped […]

mcm daily market update 07.Sep.21

ST trend: neutral On Friday we were mentioning that the ST trend was up as sellers were inefficient on pullbacks, however did warn that if ML is broken, the bullish trend would come under question. Sellers did manage to break below ML initially and pushed price lower, but once FGSI reached extreme pessimism, buyers stepped […]

mcm daily market update 27.Aug.21

ST trend: down with bottoming attempt Yesterday was the first down trend day in a while. Sellers managed to break below ML, decline stopped on a SE Xtick, but the bounce off there stopped on the ML back-test and price was rejected there. ML acting like that meant the ST trend was down and that's […]

mcm daily market update 23.Aug.21

ST trend: up On Friday we were noting that the ST trend was neutral as in the o/n (ES was at 4385 at the time), both sides were looking inefficient via FGSI. We did warn however that "A sustained move above ML would reassure that the bottoming attempt from yesterday is playing out and the […]

mcm daily market update 20.Aug.21

ST trend: neutral Yesterday we were mentioning that the ST trend was down, with potential bottoming attempt. That played out as expected, as buyers stepped in and pushed prices higher, avoiding the most bearish scenarios for the time being. The market rallied hard, pulled back around mid day, then bounced to close the cash session […]

mcm daily market update 19.Aug.21

ST trend: down (with potential bottom attempt) Yesterday we were mentioning that the ST trend was down, as price was still below ML and FGSI was showing both sides were inefficient. The market continues to chop between the bearish and bullish EE on FGSI, and even tried to break above ML after the cash market […]

mcm daily market update 16.Aug.21

ST trend: down On Friday we were mentioning that the ST trend was up, with potential pullback set-up, as FGSI was at extreme optimism. The pullback was small, then the market pushed to new highs in a very choppy session. It also made a new ATH after hours. The Sunday session saw a pullback from […]

mcm daily market update 13.Aug.21

ST trend: up (with potential pullback set-up) Yesterday we were mentioning that the ST trend was up, with a potential topping pattern, as both FGSI and IGSI were showing unconfirmed highs. The market did pullback from there and even overshot ML for a brief period. FGSI reached extreme pessimism and as usual buyers stepped in […]