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Not easy being a buyer right now.

It’s true – both the Emini and Gold are bearish into ranges with lots of resistance overhead.

And yes, Nasdaq is bullish, but it’s showing signs of exhaustion at these highs…

I’d love to short all three of these markets tomorrow morning; And you know me, I always have some bullish reversals on my radar just in case. Here’s my plan for Thursday…

E-Mini S&P (ES):

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E-Mini Keys to Success:

• Range Market = Failures, Rotation & Breakouts
• Hard to be a buyer on the Emini right now!
• Bears have control into a trading-range, so sellers will be looking for shorts at resistance levels up above the range, or breakouts on strength going lower.
• Buyers have a difficult path, because even if they get a strong push higher, they’re still at the major highs of a weekly range.

Top 3 Trades for Tomorrow: 

• UP – sell the buyer failure (or) buy the 123-Reversal  
• DOWN – sell the 123-breakout (or) buy the seller failure
• SIDEWAYS – sit on hands and avoid the middle of the range.

E-Mini Nasdaq (NQ):

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Nasdaq Keys to Success:

• Range Market = Failures, Rotation & Breakouts
• Buyers have control into a range today, with the bulls attempting a breakout to retest all-time highs just overhead.
• We’re running into monthly highs (resistance), and with buyers trying to get long, we know sellers will be looking for ways to get short into their stops for a pendulum-swing back down to range lows tomorrow morning.
• Buyers don’t have an easy job up here because we have a TON of resistance overhead and a range acting like a magnet below us.

Top 3 Trades for Tomorrow: 

• UP – Sell the buyer failure (or) buy the 123-breakout
• DOWN – sell the 123-Reversal (or) buy the seller failure off range lows
• SIDEWAYS – wait for a new range, then buy support levels below it.

Gold Futures (GC):

(Click on image to enlarge)

Gold Keys to Success:

• Range Market = Failures, Rotation & Breakouts
• Big Move today, expect a narrow range tomorrow
• Bears have control with a strong run lower into a trading-range and spike and channel, telling us that sellers will be looking for shorts up at resistance levels overhead.
• Buyers need to be patient because the strength of this move suggests another leg lower.They’ll want to wait for a reversal or exhaustion off the lows.

Top 3 Trades for Tomorrow: 

• UP – sell the buyer failure (or) buy the 123-Reversal
• DOWN – sell the 123-breakout (or) buy the 2try reversal
• SIDEWAYS – sit on hands and wait for a pullback to short at resistance.