Crude Oil is bearish, but the last-minute rally for the bulls gives the buyers a slight edge going into the overnight Asian session…
And since we’re back inside the range from earlier this morning, my plan is to look for a seller-failure set-up to buy below the range low.
E-Mini S&P is bearish into a wedge pattern, but it’s not what happened today that’s most important – it’s what didn’t happen – we never got a deep pullback!
Knowing this, I assume that sellers are patiently waiting to sell the next pop higher, and I'm going to use the strength of that pullback to tell me which type of sell set-up I want to use tomorrow morning.
Nasdaq is bearish with a strong run lower, ending in a range, which tells me to look for sell set-ups above the range tomorrow morning.
I'm also watching for a possible short-covering rally off the measured-move support level too, but since this momentum is so strong for the bears, I need to wait for the crown-reversal set-up to be sure.
Gold is bullish and trying to re-test yesterday’s high, but we’ve started trading sideways inside a narrow range, which tells me I need to wait for a pullback…
And I have four support levels all coming together at the same place – the low of a channel, a reversal-line, range-expansions, and a Hidden Channel.
Euro is bearish and trying to break free of this morning’s trading-range – which tells me to keep my eyes open for a short-covering rally back into the range where we started…
But remember, the bearish momentum is too strong to try “p..