Recent Articles by Ricky Wen

Healthy Consolidation For Now

The past two weeks produced +8% so some healthy digestion/consolidation is not out of the question.
by Ricky Wen - 1 week ago

Another ATHs Attempt For End Of Week

Price action remains ultra strong as bulls are not even allowing a 23.6% retracement of this week’s range (3840s-3650s).
by Ricky Wen - 2 weeks ago

Potential Acceleration Setup Above Multi-Month Channel

The market is gunning for another acceleration phase as we head into some of the big earnings reports this week.
by Ricky Wen - 4 weeks ago

Grinding Into New All-Time Highs

Price action is revisiting the prior all-time highs area and banging on the door for a breakout.
by Ricky Wen - 1 month ago

Expecting Some Digestion After New All-Time Highs

The first week of January played out mostly according to expectations as the only surprise was on Monday.
by Ricky Wen - 1 month ago

Bull Train Poised To Accelerate

The heavy lifting has been done during the Sunday night price action, so the rest of today or this week could be quite easy, consisting of consecutive higher lows and higher highs.
by Ricky Wen - 1 month ago

As Support Holds, Odds Favor Ongoing Bull Trend

Price action remains quite bullish with the backtest of the confluence area of last week’s 3620s-3630s.
by Ricky Wen - 2 months ago

Cautiously Bullish As Everyone Forced Into Chasing

November was the largest monthly gainer this year, and the ongoing momentum remains bullish moving forward as price action keeps rotating higher.
by Ricky Wen - 2 months ago

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 - 3 months 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 - 3 months 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 - 4 months 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 - 4 months 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 - 4 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 - 5 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 - 5 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 - 6 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 - 6 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 - 7 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 - 7 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 - 8 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 - 8 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 - 9 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 - 9 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 - 9 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 - 10 months ago