Most of our favorite markets are bullish and finishing today’s session up at the highs, but question on everyone’s mind is – “Will this rally continue tomorrow?”
The E-Minis and Gold are waiting for confirmation before we can buy more, the Euro is …
Most of our favorite markets are bullish and finishing today’s session up at the highs, but question on everyone’s mind is – “Will this rally continue tomorrow?”
The E-Minis and Gold are waiting for confirmation before we can buy more, the Euro is trying to re-test today’s high, and Crude Oil has a few different scenarios we need to plan for ahead of Wednesday morning – are you ready?
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Crude Oil is bearish with a strong run back to re-test the prior lows, which tells us we’re indeed bearish, but leaves us waiting for PROOF that these sellers actually want to take it lower…
Knowing this, I can't sell at these lows, so I'm waiting for a pullback to sell off the battle-zone overhead, or waiting for more confirmation to structure the next sell set-up off the high of a Spike & Channel.
E-Mini S&P is bullish and just completed a triple measured-move, which confirms the bulls are in good shape, but they need some more PROOF before we can take this higher…
Knowing this, I'm ready and waiting for a pullback to the low of the channel, and if we get that pullback my goal will be to use a seller-failure set-up to buy going back up to re-test the high.
Nasdaq is bullish and recently re-tested today’s high while completing a triple measured-move, telling us that we’re bullish, but we’re a bit too high to start buying at this major resistance level…
A better plan, would be to wait for a pullback to the low of the channel, and then look for buy set-ups using a seller-failure set-up…
Gold is bullish and sitting right at today’s high, which is considered major resistance, and far too expensive to consider buying…
So I'm going to wait for a pullback instead, looking to buy the battle-zone below this afternoon’s trading-range…
Euro is bullish, but it looks like we’re back inside a narrow trading-range again, which isn’t a very relia..
