Markets are really heating-up this week – with the tension building between the US and China, and Oil sanctions impact the energy markets, tomorrow is sure to be another great opportunity for some high-quality set-ups…
But no matter what happens to…
Markets are really heating-up this week – with the tension building between the US and China, and Oil sanctions impact the energy markets, tomorrow is sure to be another great opportunity for some high-quality set-ups…
But no matter what happens tomorrow, don’t let them FOOL you with those headlines – because the only thing that really matters is the chart, so let’s get ready!
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Crude Oil is bearish with a strong run lower off today’s high, but don’t let them fool you into selling the next pullback because we’re sitting right at the low of last week’s range.
Knowing this, a more reliable plan for tomorrow morning is to wait for the sellers to try selling the next pullback, and buy into their stop-losses for an easy short-covering rally instead.
E-Mini S&P is bearish with what appears to be a Spike & Channel going lower, but don’t let them fool you, because the REAL clue is hidden inside the trading-range.
Keeping this in mind, the best plan for tomorrow is to wait for selling-opportunities at the high of the range.
And I have to say, I’m also looking for a possible short-covering rally off the measured-move target if we can get the “nested” 2-Try Failure set-up to trigger.
Nasdaq is bearish with a Spike & Range pattern, which tells us to look for selling-opportunities at the highs, while reminding us NOT to try selling these lows.
So don’t let the bears fool you on this, yes, the market is bearish, but NO, selling this low is always a bad idea!
Gold is bullish with a combination of a major bull channel, Spike & Channel, and narrow trading-range on the chart tonight.
Add up all these great clues and you have a battle-zone waiting below us that is worth waiting for on Tuesday morning.
Euro is bullish, but a recent “undershoot” of the bull channel tells us to wait for the "overshoot" on the opposite side before we s..
