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It’s never too early to prep for Monday!

Markets are closed tomorrow, but that gives us the opportunity to prep for next Monday – especially this massive Crown Reversal setting up! 

The Emini and Nasdaq are bearish, but we’re trading into major lows, so we’re looking for breakouts or reversals – can you guess which one I’m hoping for?

Crude Oil is bullish with a strong spike higher – situations like these tell us to be ready for (3) possible setups.  One of them could make your entire week!

E-Mini S&P (ES):

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Emini is bearish, trading at the lows of the weekly range.

Sellers have control of momentum right now, but selling into these major lows isn’t a good idea.  Sellers need to wait for a breakout going lower or sell a pullback at the ‘Battle Zone’ or major range highs overhead.

Buyers have plenty of options down here.  They can buy a reversal off these lows, along with buying pullbacks on the way back to major range highs on Monday.

Keys to Success:

• Bearish trend, but sitting at major support
• Buyers want a reversal off the lows
• Sellers want a breakout lower
• Plenty of space for a bear breakout, we just need proof

E-Mini Nasdaq (NQ):

(Click on image to enlarge)

Sellers in control, but major support waiting below.

Bears have control of momentum right now, but sellers will need to wait for a pullback or breakout before they can confidently sell into these lows.

Buyers would love to see a double-bottom reversal off the lows, then buy pullbacks off new channels on the way higher.

Keys to Success:

• Strong bearish momentum, sitting at major support
• Buyers want a reversal off major lows
• Sellers want a breakout or a deep pullback off lows
• Breakout needs to be strong enough to break multiple support levels.

Crude Oil Futures (CL):

(Click on image to enlarge)

A strong bull spike suggests a range or deep pullback.

Bulls have control on Crude Oil with a strong spike higher, suggesting a retest of this high is likely at some point in the near future.

The size of this move is a big clue as well – suggesting we go sideways in a range or get a deep pullback to attract more buyers into the move.

Buyers will be looking for ways to buy that next pullback or buy the edges of a new trading range.

Sellers have to stay patient, waiting for a double-top reversal off the highs, or a 123-Reversal going lower on strength.

Keys to Success:

• Strong bull spike says to expect another leg up
• Buyers want to buy the dips ahead of a retest
• Sellers want a reversal off the highs
• Breakout needs to push through major resistance at 108.67.