We continue to see mostly range-bound markets on the charts tonight, which means we’re focused on buying low and selling high failure set-ups on Wednesday…
But one chart in particular, has a very interesting set of clues - telling me to look for th…
We continue to see mostly range-bound markets on the charts tonight, which means we’re focused on buying low and selling high failure set-ups on Wednesday…
But one chart in particular, has a very interesting set of clues - telling me to look for the “underbelly set-up” – are you ready?
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Crude Oil is bullish with a strong spike running higher, which tells me to consider four possible chart patterns and two specific buy set-ups tomorrow morning…
And even with all this strength, the day started as a range, and when the dust settles, we’re most likely headed back into the range at some point on Wednesday morning.
E-Mini S&P is bearish and trading back inside the range from Monday’s session, which tells me to look for sell set-ups using buyer-failures up above the high of the range on Wednesday.
And if price sinks lower, I'm watching the ‘pendulum swing’ as key support, followed by a “nested” seller-failure for the buy set-up going higher.
Nasdaq is bearish and trading in the middle of Monday’s narrow range, telling me to sit-on-hands and wait for the opportunity to fade the breakouts – buying low, selling high, and avoiding the middle.
Gold is bullish with a strong run higher, trying to breakout of this range, and if it does, I'm looking to buy a pullback to the low of a new Hidden Channel…
But if these bulls can't get the job done, I'm looking for a “nested” 2-Try Failure using the underbelly of the bull channel as key resistance for the sell.
Euro is bearish and headed back to re-test last Friday’s low, but I’m hoping we can get a sell set-up off the high of this Hidden Channel before we get there…
And ideally, we get an even deeper pullback so we can see off the range overhead using a buyer-failure set-up.
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