Crude Oil is bullish with a strong spike higher this evening, which tells me to be ready for four possible set-ups on Friday morning…
The most important clue will be what happens in the overnight session, because that’s going to set-up the London and US sessions for Friday morning.
E-Mini S&P is Coiled Up Into Friday
E-Mini S&P is sideways and range-bound this evening, which tells us to buy the low, sell the high, and avoid the middle tomorrow morning…
And since there is an overall bullish tone in this market this week, I can use a simple seller-failure set-up to buy below the lows, while waiting for a “crown reversal” to sell off the high.
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Nasdaq Finished Right Back in the Middle!
Nasdaq is sideways and range-bound this evening, stuck in the middle of today’s range, which tells me this market is “balanced” and I should be looking to fade all breakouts with failure patterns on Friday morning.
Knowing this, the overall tone is bullish, so a move lower will be an attractive buying opportunity once we see the sellers try and fail.
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Gold Buyers Have Their Eyes on the “Sweet Spot”
Gold is bullish, but we’re back inside the range from last week, which isn’t a great place to be buying, so I’m waiting for a breakout down into the battle-zone so I can buy it back up again.
I’m also watching the low of a new Hidden Channel, because any breakout below the range will be right in the sweet spot to buy the low of that channel with the proper entry signal.
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