Weekly Futures Market Recap – 10 May 2026: 7427 High and the Ags Came Alive

Full transcript of the video above, cleaned for readability.

Intro (00:00): Saturday 9 May 2026, 10:23 PM Chicago time. Hope you had a great week’s trading. I did not trade – on the road, recording from Tokyo. Have not been in Tokyo for 34 years – last time was 1992/1993 doing work here. Snowboarded in Hokkaido but not downtown Tokyo. Back in 1992/1993 it was the peak of the Japanese bull market, so expensive we were not allowed to stay in hotels in Tokyo – had to stay in Seoul and fly in. Japan now actually good value. Staying in a capsule hotel – everyone laughing at me for the last couple of months. The chain is called nine hours, they record your sleep at night. In Akasaka. Capsules futuristic looking, not confined – perfectly big. Spent a couple of nights. Highly recommend.

Emini Daily (02:56): Up at 7419 on the close. Friday’s high – small bar – 7427.50. Pretty good. First three or four charts on the Emini: we do not have Professional bars yet. Thought we would blow off above 7200 – as soon as we cracked above there we busted out all the stops sitting above that recent high. Short covering or whatever, Pros have not showed up to take profits yet. Cyclical cross in due that we have said over the last couple of weeks. Overshot resistance on the lowest time frame on the daily, heading up to find resistance up here but needs to be met with exhaustion patterns followed by bearish divergence and Blue Professional up bars on the highest time frame charts. Not seen that yet on daily, 135-minute or 45-minute.

Emini 135-Minute (03:56): Down the time frames. Trailing stop on Better Pro Am. Last time we saw Pros they were busting it out at 6600 getting this move going. Exhaustion buy with bearish divergence – nice signal in terms of exhaustion and bearish divergence, in the right place, but no Blue Professional bars. Trailing stop on Better Pro Am miles away. Broke through resistance on the lowest time frame into an uptrend – bars painted red showing the uptrend. Now above resistance on the intermediate time frame, heading toward the highest. Have to see at least a pullback to end of trend on the lowest time frame. Little weakness followed by test into the highs possibly syncing up here.

Emini 45-Minute (04:49): Same deal. Stop miles away, no Blue Professional bars. Last time we had Pros they were sitting here waiting for the breakout then bought the breakout gap-and-go – left behind a huge gap that never filled. Lot of people taken out on stops as we ran. Little weakness here off the RAMBO patterns into the highs, flush pattern. Bearish divergence here after the exhaustion buy – on the zero line so wait for a flush. Came later but there is the flush. Question: is that exhaustion buy getting the move going breaking us out of a channel or the blow-off? Looking at that – we are just busting above those highs, that is exhaustion buy short-covering rally as we get above. Not blowing off yet. No Blue Professional up bars – what we have to be waiting for.

Emini 15-Minute (05:46): Solid vertical yellow lines for beginnings and ends of the week. Here we had weakness this week, ended with exhaustion sells – got rid of sellers, enabled the rally to continue. If we had seen exhaustion buy at this point then I would be worried by a pattern like that exhaustion sell because Pros would have taken profits up here with the exhaustion move and gotten the move going on the way down. If you have not seen the exhaustion buy and then you get the exhaustion sell, these people shorting way too early – we crossed a little pivot low, people thought it was weak and selling. As soon as we reverse above, forced to cover. All those shorts give us energy to break above the recent high into this move where we have an exhaustion pattern. Their stops sitting above here. Another gap-and-go – they are freaked out and have to get out, badly positioned. Now different situation: exhaustion buy with bearish divergence in the right spot. Not happening earlier but happening now. Some Blue Professional bars on this move. Not seen anything yet at the highs. Potentials of an exhaustion pattern but no Blue Professional bars – trailing stop miles away. Overdone in pullback to end of trends on the low and intermediate. Weakness then test back up to 7450. Three indicators: Better Momentum, Better Sine Wave, Better Pro Am – and Blue Professional bars is the most important. We do not reverse markets until we see Professional activity. Still in an uptrend. Background red.

Emini 13,500 Tick (06:57): Slightly different picture. Beginning of the week we had little weakness. Previous week did not. Little Professional profit-taking here – some Blue Professional bars with blue square around showing Blue Professional bars at a high or low – but not a lot on the prior week. Then on the little sell-off, Blue Professional bars step in on the weakness, trigger signal, bang. Same into the end of the week – yes, little profit-taking Blue Professional bar with blue boxes into that, not significant, not big. Not until we break above this point – then we see Blue Professional bars, Big Pro Bars, blue squares, backgrounds in blue. Taking profits here. Remember Pros leg in and leg out of markets. On this recent high, getting out at the test of that high at the stair-step point, then market moves up, trailing stop moves up, taking opportunity to get out again. Weakness first led by amateurs with the RAMBO channel, then it goes the other way – crushed the amateurs’ stops up here. Unfortunately another RAMBO pattern, RAMBO to RAMBO channel. Now exhaustion pattern – bearish divergence on the zero line is not great, probably need a flush pattern. Trailing stop getting closer here. No signal short because we never broke these pivot lows substantially. Waiting for signal short on the tick bar – all the components: exhaustion buy, Blue Professional bars, Big Pro Bars. Some weakness early on the tick bar coming. Cyclically also an important point – bust into uptrend on the highest time frame, then put in pullback to end of trend on the highest time frame, little pullback signal at end of trend on the highest time frame syncing up with end of trends on the lowest time frame. Then end of trends on the intermediate time frame. Red bars on the way up but exhaustion patterns first on low, intermediate, highest. All coming together. Cyclically important. Overdone on the 13,500 tick chart in price and trending activity. Exhaustion buy bearish divergence in, Big Pro Bars in, pushed into highs with RAMBO pattern at 7420 – waiting for trailing stop break. Sunday or Monday will we come up into more Blue Professional bars and trail the stop tighter, or get weakness first? Overdone on tick bar – looking for next signal short. But higher time frames trailing stop miles away, no Blue Professional bars. Higher time frames still in uptrend with tradable play on downside early next week.

Euro (11:27): Starting to top out on cyclical patterns. Underneath resistance on the highest time frame, Big Pro Bars into the highs. Exhaustion pattern under the lip. Watch for Euro weakness next week.

British Pound (11:49): Quite a lot of political results last couple of days with local elections. Looks like Keir Starmer might be on the way out – though he seems convinced no one better to take charge of the UK. Big Pro Bars this week: none. Last week some into the highs testing. No exhaustion buy at the highs. Triple top – is that quadruple top – market does not like triple, likes a spike to resolve. Going higher. Selling off exhaustion sell bullish divergence but no Blue Professional bars at the highs. Keep a fairly tight stop at 1.358 – looks like it wants to bust out. Signaled by Starmer resigning?

Aussie Dollar (12:42): Also looking like it could bust up. Last Blue Professional bars this week were into the lows. No Blue Professional bars up here or up here or up here. Came in on the lows. Watch for continuation of strength on Aussie Dollar.

Japanese Yen (13:00): Interesting. Had a nice signal at the lows – Big Pro Bars step in, race away. No Blue Professional bars taking profits here or here – RAMBO pattern in. Blue Professional bars – that is odd, almost wrong-way-around. Should have been getting in at the lows but broke above them. No Blue Professional bars taking profits. Blue Professional bars down here on the retrace. Watch for through 64.30 for continuation of strength on Japanese Yen.

10-Year Notes (13:38): Interesting. Similar wrong-way-around things with Blue Professional bars and Big Pro Bars – should have seen them on the lows, not on the retrace. Bounced off rubber band. Background red – confirmed uptrend – and Blue Professional bars stepped in on the retrace. Stair-step trade. Watch for break through recent high on 10-Year Notes.

Gold (14:06): Interesting but no Big Pro Bars came in – just technical Professional activity taking profits at significant highs. Up at 4900 they sold off. Down at the lows, signal but taking profits. Not good enough – couple of Blue Professional bars at the lows but no Big Pro Bars. Coming in on the retrace. Exhaustion buy bearish divergence looking weak. Watch for 4650 break and continuation of downside on Gold – not a lot of Big Pro Bars stepped in there.

Silver (14:45): Looking better with this low – exhaustion sell bullish divergence, Blue Professional bars step in, signal, race away. Then exhaustion buy bearish divergence, Big Pro Bars taking profits. Double top happening. Watch for 78 break for downswing on Silver.

Bitcoin (15:07): Had a really nice week. Got signal into last weekend – Big Pro Bars at 79K. Now coming back. No Blue Professional bars taking profits – came in on the retrace. Big swing from 81K down to almost 78K – holding. Watch for test back above 82K on Bitcoin this week. Still putting in nice move for pullback to end of trend on this highest time frame.

Ethereum (15:50): Same. No Blue Professional bars at the highs taking profits. Anxious to buy on the dip and get the move going. In an uptrend. No Pros up here or here. Bit here but none here. On the retrace with exhaustion sell bullish divergence. Strong uptrend but not broken out of 2500 yet.

Crude (16:22): Let us see what is going on with Crude – directionally what we can say about the war. Big Pro Bars in at 90 got this move going. Convinced it was not over because no Blue Professional bars taking profits. But signal, quite a lot of weakness, led at 90 by amateurs – flurry of RAMBO patterns into the lows. Now back again – Blue Professional bars, Big Pro Bars come in. Not classic, not at the lows, during the activity. Bouncing off and breaking into a downtrend? Possibly. In no man’s land – broke the trailing stop, last signal background gray in a downtrend. If continues through 93 down to 90, on its way down. Keep tight stop. Suggests good news out of Iran this week.

Corn (17:35): Going to skip a couple of charts because usually the ags are not interesting. This week, all of the ags are interesting. Big Pro Bars taking profits at the highs, nice signal short. All that activity up there – bang. But then in again at the lows at 4.61. Signal long on Corn. Cyclically support breaks into an uptrend.

Soybeans (18:02): Came in Big Pro Bars at 11.76. No Blue Professional bars taking profits at the highs – on this retrace. Exhaustion sell bullish divergence, Professional bars, exhaustion buy getting the move going. Signaled into uptrend on Soybeans. Cyclical support on the highest time frame, red bars broken into uptrend.

Wheat (18:24): Pros took profits at 672. Background blue, blue bars, exhaustion buy, nice signal short. Then traded down to 600 – interested again. Big Pro Bars, exhaustion sell, bullish divergence. Test, test, signal, bang. Ags look interesting this week.

Wrap (18:47): Each market comes in and out, becomes interesting at certain points. This week ags are looking interesting. Hopefully not too long a video. Hope your trading is going well.