Markets took a tumble this afternoon after some alarming news from the White House, which gives the bears firm control of our favorite markets…
But look closely, and you can see that we’re FOUR legs down on the chart, which tells me to anticipate o…
Markets took a tumble this afternoon after some alarming news from the White House, which gives the bears firm control of our favorite markets…
But look closely, and you can see that we’re FOUR legs down on the chart, which tells me to anticipate one very important chart pattern on Wednesday – are you ready?
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Crude Oil is bearish and trading with four legs down this evening, which tells me the bears have control, but it’s far too low to start selling at such a low price…
Knowing this, my plan is to wait and sell off key resistance levels waiting overhead, and I have my eyes on the combination of a Hidden Channel and a reversal-line for Wednesday morning…
E-Mini S&P is bearish with four legs down into a narrow trading-range, which tells us the bears have control, but I hate the idea of selling into the low of this range…
A better strategy will be selling up above the high of the range using a buyer-failure set-up with a target back at range lows tomorrow morning.
Nasdaq is bearish with a Spike & Range pattern, telling me to look for sell set-ups using buyer-failures up above the high of the range.
But I'm also watching for a possible reversal, since this big move down came in the wake of news headlines this afternoon, but I need to see the 123-Reversal before I consider buying this market on Wednesday.
Gold is bullish and trying to re-test the high from earlier this afternoon, but it appears they’re struggling to get the job done, which tells me to look for a trading-range and buy underneath the low using a seller-failure pattern…
And don’t forget that small range where the day began – because if these buyers can't hold this, we’re looking like an easy collapse back down to 1530 tomorrow morning.
Euro is bullish and rotat..
