We didn’t waste any time getting this week started; the Emini pumped and dumped, Gold caught a late-session bounce, and the Oil market tumbled nearly five dollars lower into a market mistake off the lows…
That market mistake is a big clue, telling me where to find my next trade – did you see it too? Let’s take a look…
Crude Oil’s Market Mistake is a Big Clue…
Crude Oil is bearish with three strong legs lower in today’s session, which usually ends up trading sideways the following day, so I’m watching for a range tomorrow morning…
The bigger clue, however, was the market mistake at the lows on Oil, which plays a big factor in tomorrow’s trading plan…
E-Mini S&P Looks Good for a Bounce…
E-Mini S&P is bearish after the buyers failed to hold the bounce into lunch…
Look closely how the session ended on the Eminis and we’re basically a double-bottom, which says to expect a range, so I’m looking to sell into any bull rallies using buyer-failure patters tomorrow morning…
Gold Buyers Appear to Be Walking into a Trap
Gold is bearish and the buyers appear to be walking right into a trap…
We spent most of the session inside a range, and this recent rally off the lows is headed right into overhead resistance, so I’m looking to get short into buyers’ stops using a nested failure pattern.
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