All of our favorite markets closed firmly bullish at their highs this afternoon, and since we didn’t see many deep pullbacks in today’s trading session, that’s exactly what I'm looking for on Thursday…
More importantly, these “over-extended” t…
All of our favorite markets closed firmly bullish at their highs this afternoon, and since we didn’t see many deep pullbacks in today’s trading session, that’s exactly what I'm looking for on Thursday…
More importantly, these “over-extended” trends have a distinct personality, and some patterns will work better than others, so let’s make sure we know exactly where to find the most reliable entries on Thursday – are you ready?
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Crude Oil is bullish and trading four legs higher, which tells me to stay patient and wait for a pullback to a reliable support level on Thursday…
Knowing this, I’m waiting to buy the pullback off the combination of a hidden-channel, range-expansion, and support trend-line tomorrow morning.
E-Mini S&P is bullish and back to all-time highs again this evening, which tells me to look for buy setups after a deep pullback on Thursday morning…
Where’s the best entry? I'm watching the combination of a reversal-line and range-expansion level to buy the dip around 3382.
Nasdaq is bullish and three legs higher this evening, which usually means we’re headed sideways inside a range the following day…
Knowing this, I'm going to resist the temptation to “buy high”, and wait for a more reliable buy setup using a seller-failure below the range.
Gold is bullish and trading at the top of a flat, wide channel, which tells me to trade it similar to a range; buying low, selling high, and focused on failures…
Knowing this, the channel is so wide, that when we do test the low of the range I'm going to wait for a “nested” failure to make sure I respect the momentum of the bears.
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