Buyers are Waiting on This; 3 Setups for Summer Friday
Tomorrow isn’t just a Summer Friday, it's also the end of July, which means we’re expecting a smaller window of opportunity with a strong dose of extra volatility…
The biggest challenge we face for Friday is how the market finished today; strong spikes into the close leave everyone wondering – “can they hold this?”
It’s true – buyers need to show us proof that today’s climactic finish wasn’t just a blow-off-top, which means anything is possible, and I want to make you're ready no matter what we get – let’s get started…
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E-Mini S&P is bullish after finishing today’s session with a strong spike higher, but look closely, and you'll see we’re back to the highs we end at last night…
Knowing this, the buyers need to show us proof by holding the pullback, or sellers are going to attack and send us back into the range from today’s lunchtime session…
Crude Oil is bullish and trying to finish a measured-move back at today’s high, but the lack of follow-through into the close tonight leaves me wondering if they can hold it…
Knowing this, I need to see more proof; will we sink back down to 40 and create a range? Will we continue into a Spike and channel? The answer to that question will tell us exactly where to find the best entries…
Gold is bullish and rotating off the low of the weekly trading-range; the range is the big clue, telling me to buy low, sell high, and focus on failures around the edges of the range…
Knowing this, I can't help but notice the big rotation off the highs, which tells me the best entry off the low with be a “nested” failure pattern.
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