What Didn’t Happen Is More Important

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Just like we anticipated, the day following the FOMC Announcement was filled with fireworks and opportunity – but it’s what DIDN’T happen – that’s the most important clue going into Friday’s session – are you ready?

Crude Oil is Waiting for a Pullback

Crude Oil is bullish into a trading-range, which tells me to look for buying opportunities below the range using the 2-Try Failure pattern.

Furthermore, if we can get that deep pullback off the highs, I’m watching closely to see the sellers get in trouble so I can buy into their stops for an easy rally back to the high.

E-Mini S&P is Too High to Buy (Or Is It?)

E-Mini S&P is bullish with a strong run higher into a narrow trading-range, which tells me to wait for a pullback into the battle-zone for the most reliable buying opportunities on Friday.

It’s also important to remember, when the range is very narrow (like it is today), I like to use TWO range-expansion to define the most reliable support levels for tomorrow.

Nasdaq is Waiting on a Pullback

Nasdaq is bullish into a Spike & Channel pattern, which always reminds me to wait patiently for a DEEP pullback before looking to buy this bull market.

Knowing this, the goal is to get a deep enough pullback to fool the counter-trend sellers into thinking this is a reversal – and once they are committed to the short side, we can buy into their stops when we see signs of failure.

Gold Is Bearish – But Didn’t They Miss the Goal?

Gold is bearish and trying to run back down to retest yesterday’s low, but looking closely at today’s big collapse lower, the most important clue is what DIDN’T happen!

Looking closer at the chart, its easy to see the sellers were unable to finish their mission today, and if they can’t do something quickly, I’m anticipating a short-covering rally all the way back up to yesterday’s high.

Euro is Bearish, But We Have a BIG Problem!

Euro is bearish and re-testing the Pre-FOMC lows from yesterday, which is a BIG CLUE, giving the sellers clear control, and telling me to look for selling-opportunities up at the high of a Hidden Channel.

But there’s one big problem – we have multiple support levels standing in our way to get back down to the low, which will easily open the door for the sellers to fail and buyers to grab control for a big rally higher tomorrow morning.

 

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