Recent Articles by Ricky Wen

Bears Lack Follow-Through

Bears are trying their hardest to commit to further downside, but they just lack follow through and momentum on their side.
by Ricky Wen - 1 week ago

Market Rangebound For The Moment

The easiest portion of the ride is now considered done from the 3400 breakdown on the Emini S&P 500 (ES) to its present level.
by Ricky Wen - 4 weeks ago

Gap Up and Crap Down

Monday was a trend day down after the +1% gap up move from the RTH open and confirming that bears are back in business.
by Ricky Wen - 1 month ago

Bulls In Full Control

The 3198 temporary bottom on the Emini S&P 500 (ES) is acting more like a bigger concrete bottom as every day passes without making a decisive lower low.
by Ricky Wen - 1 month ago

Overnight Held At Key Level, BTFD In Control

Bulls cannot let bears reclaim 3291-3285 on the Emini S&P 500 (ES) or the downside risk opens up immediately.
by Ricky Wen - 2 months ago

Short-Term Trend Change Intact

We’re utilizing 3190-3230 as next key support in the Emini S&P 500 (ES) that could temporarily stabilize the price action to see if there’s a dead-cat bounce.
by Ricky Wen - 2 months ago

Price Action Elevated To Stratosphere

The uptrend can last for many weeks and months by embedding and rotating higher, but market participants must be made aware of the risks associated here.
by Ricky Wen - 3 months ago

Breakout/Breakdown Levels To Watch As Market In Slow Grind Higher

The Emini S&P 500 (ES) is in a horizontal, range-bound consolidation within the ongoing context of the bull trend.
by Ricky Wen - 3 months ago

Bullish Trend Intact - Market Analysis for Jul 28th, 2020

The main trend of the daily 20EMA for the past few months is still holding, so the ongoing bullish trend heading into end of July remains intact for now.
by Ricky Wen - 4 months ago

Bears Striking Back At Key Moment

We are short-term bearish right now when below 3226.25 on the Emini S&P 500 (ES).
by Ricky Wen - 4 months ago

Bears' Time To Shine

If the bears cannot capitalize on a breakdown continuation setup, then you would know that they lost a big battle.
by Ricky Wen - 5 months ago

Big, Bad Bears Are Back

This follow-through to the downside is merely just a continuation model from last week’s clues.
by Ricky Wen - 5 months ago

May Closed At Dead Highs As Expected, Continued Bullishness Into June

The bulls accomplished their key goal by ending the May monthly closing print at the dead highs in order to enhance the odds for upside momentum.
by Ricky Wen - 5 months ago

Bears Running Out Of Time

Bears had another perfect opportunity to capitalize on wrapping up the week at the lows, but they failed to do anything concrete.
by Ricky Wen - 6 months ago

Bullish Consolidation Pattern - Market Analysis for May 7th, 2020

The past 3 days has been playing a bullish consolidation pattern given the ongoing bull train/trend setup above daily 20 EMA. This allows the market to trap in more market participants and then ramp higher.
by Ricky Wen - 6 months ago

Bears Fumble - Market Analysis for Apr 27th, 2020

The billion dollar question for this week is quite simple:  Could bulls score in a big way and break above the 2875/2885 range high resistance levels on the Emini S&P 500 (ES), squeezing into 2930 and beyond?
by Ricky Wen - 7 months ago

Inflection Point Continues - Market Analysis for Apr 15th, 2020

Tuesday closed at 2844.5 in the ES, around the dead highs of the session, which was also above the 50% Fibonacci retracement of this entire drop, 3397.5-2174. The battle lines have been drawn for both sides.
by Ricky Wen - 7 months ago

Bears Failed Last Week

Bulls won hard in the high-level consolidation war zone conflict last week, as the Emini S&P 599 price action stayed elevated at the upper half of March 23-27 range.
by Ricky Wen - 7 months ago

Relief Bounce Faces Resistance

Basically, price on the Emini S&P (ES) went from a range low (2174) to range high (2650 and is now waiting for some digestion to go back into midpoint of the range and then near range low.
by Ricky Wen - 8 months ago

Key Backtest Against Dec 2018 Area

We're watching closely on how the market reacts on a first- try basis on backtesting the Dec 2018 lows for short-term momentum gauge and to see if there's any applicable scalp setups or remain in heavy cash positions for now.
by Ricky Wen - 8 months ago

No Panic Yet - Market Analysis for Mar 2nd, 2020

A few too many bear cubs celebrating too early after being wrong for months and last week’s carnage is being hyped up so pay attention for a potential quick reactionary short squeeze as the temporary bottom setup from Friday remains pivotal.
by Ricky Wen - 8 months ago

Setting Up Another ATH Closing Print For Monthly Candle

The current holiday/shortened week will likely be focused on stabilizing in a high-level consolidation the gains made from last week as we head into this Friday’s monthly OPEX closing print.
by Ricky Wen - 9 months ago

Surprise Surprise, New ATHs Fulfilled

The week’s low of 3322 on the Emini S&P 500 (ES) is still being treated as in since Monday.
by Ricky Wen - 9 months ago

Resistance Repels Bulls - Market Analysis for Jan 23rd, 2020

The bulls did not have enough juice to close above 3337 on the Emini S&P 500 (ES) for the closing print and the mythical creatures/bears got what they wanted for just a single day by closing around the lows of the day.
by Ricky Wen - 10 months ago

Bull Train Resilient - Market Analysis for Jan 13th, 2020

The bull train remains quite resilient and doing everything in its power to uphold the ongoing daily8/20EMA momentum trend since October 11, 2019.
by Ricky Wen - 10 months ago