What’s The Market Objective?

 

Markets are RED HOT going into Friday’s trading session, with most of our favorite markets going back to the market’s objective, which gives us all the information we need to formulate a reliable plan for Friday’s session.

Crude Oil just completed the market’s objective, so we’re waiting for the bulls to take profit, and looking to re-load again down at a key support trend-line.

E-Mini S&P just re-test its major resistance, and even with such a strong move higher, I don’t want to buy these highs, so I’m waiting for a pullback to the low of the channel for buying opportunities tomorrow morning.

Nasdaq is just a few inches away from completing its re-test of yesterday’s high, which means I’m looking for DEEP pullbacks for buying opportunities on Friday.

Gold is bearish and running quickly back to the range low, and my goal is to find some bull-traps for selling-opportunities before we get there tomorrow.

Euro appears to be bearish this evening, but after digging deeper, it’s easy to see this bear market might just be a beautiful buying opportunity for Friday morning.

Crude Oil is Looking Like a Range for Friday…

Crude Oil is trading right at yesterday’s high, which is considered the market’s objective, and tells me that this is too high to start buying.

Seeing the bulls taking profit off these highs, the better strategy is to wait for a pullback and look for buying opportunities using seller-failure patterns near this rising support trend-line.

E-Mini S&P Looks a Bit Too High to Buy…

E-Mini S&P is re-testing yesterday’s high, which tells me it’s a little too high to start buying this market right now.

Knowing this, my plan is to wait for a deep pullback to buy off the lows of this hidden channel and the support trend-line.

Nasdaq is Inches Away from the Objective…

Nasdaq is bullish and only a few ticks away from re-testing the high, which tells us to avoid buying into this major resistance.

Knowing this, I want to focus on buying as low as possible, and I’m looking for buy set-ups using this rising support trend-line and low of the hidden channel.

Gold is Racing Back to Range Lows (Again)…

Gold is bearish and grinding its way back to the low of the range, which tells me to look for sell set-ups up at the high of this channel tomorrow morning.

The low of the range is just a few points below us, so we need to avoid chasing this move lower and focus on selling as high as possible until we complete the mission back to the low.

Euro Looks Bearish at First Glance, But Look Closer…

Euro is trading at the low of the range expansions this evening, which means I’m looking to buy the lows with a target back up to the high.

The challenge is, the momentum is bearish at this point, which tells me to wait for the sellers to try a few times before looking for the proper entry going long back to the high.

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