It was another wild day in the markets today; Gold ran another leg higher, Emini ES rotated back and forth inside a wide range, and Crude Oil started slow but finished the session with a strong momentum move higher…
Speaking of momentum, that was …
It was another wild day in the markets today; Gold ran another leg higher, Emini ES rotated back and forth inside a wide range, and Crude Oil started slow but finished the session with a strong momentum move higher…
Speaking of momentum, that was the big clue of today’s session; all of our markets are showing signs of “failure into momentum confirmation”, which tells me exactly where to find the most reliable entry setups on Thursday…
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E-Mini S&P is bullish with a 123-breakout of today’s trading-range; momentum is firmly in the hands of the bulls, and this three-legged move tells me exactly where to find the best entry setup tomorrow morning.
Crude Oil is bullish and trying to break free of this week’s trading-range; the buyers finished the session with momentum on their side, but I don’t dare buy the range high, so I'm waiting for a pullback to get long off a support trend-line.
Gold is bullish after a strong run higher today; at first glance, the pullback looks like a reversal, but momentum doesn’t confirm. Knowing this, my plan is to wait for sellers to get short on the next pullback and buy into their stops for a retest of today’s high.
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