There’s a hurricane on the horizon, and it’s not just South Florida – because we have the end of week, end of month, and end of summer session on Friday morning that tells me to be ready for anything and everything – but most importantly, are YOU re…
There’s a hurricane on the horizon, and it’s not just South Florida – because we have the end of week, end of month, and end of summer session on Friday morning that tells me to be ready for anything and everything – but most importantly, are YOU ready for tomorrow morning?
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Crude Oil is bullish into a range this evening, and with hurricane Dorian looking more likely by the minute, we know that buyers will be looking for ways to get into this market at the lowest possible price…
Knowing this, I'm using the trading-range to identify the battle-zone as key support, and if we can get the pullback, I'm looking to buy into a seller-failure for a short-covering rally back to re-test the highs.
E-Mini S&P is bullish into a narrow trading-range, which tells me that buyers will be staying patient for a DEEP pullback off the highs to ensure a decent risk-reward-ratio…
Knowing this, if we get that deep pullback, I'm going to look for a “nested” failure set-up to buy into the stops of the counter-trend sellers.
Nasdaq is bullish with two trading-ranges on the chart; both narrow and wide, which is a big clue, telling me to look for a deep pullback to the low of the wider channel…
But if we DON’T get that pullback, remember not to chase the market higher because we have a lot of resistance levels waiting overhead and I need to see PROOF in a 123-Breakout before I can buy it running higher.
Gold is bearish with a strong run lower today, but the way the market finished today’s session makes me think these sellers are finished for now…
And knowing that this is the first decent pullback we’ve seen all week, I'm skeptical of the bear trend, and looking for a crown reversal set-up to send it back higher again on Friday.
Euro is bearish and continues to “grind” lower towards the next round number, and since nothing has changed, our pl..
