3 Set-Ups for Earning Season

Markets were RED HOT going into this week’s earnings reports, and with strong runs on the charts tonight, I’m watching for three specific set-ups on Wednesday.

Crude Oil Wants the 2-Legged Pullback

Crude Oil is bullish with a wide bull channel, which tells me to look for buying opportunities at the low of the channel.

With that said, the width of this range is going to give the sellers a little more momentum than I would like, so I’m waiting to see them try and fail at the moving-average for the most reliable buying opportunities going back to the high

E-Mini S&P is Waiting for the Pullback

E-Mini S&P is bullish with a Spike & Range pattern, which is one of the three set-ups I’m always watching during earning’s season.

Knowing this, the size of the range plays a BIG role in finding reliable support and resistance levels for tomorrow morning, and I’m waiting to buy a pullback using a seller-failure tomorrow morning.

Nasdaq Might Not Be Done Yet!

Nasdaq is bullish with a Spike & Channel pattern, which always tells me to look for a DEEP pullback off the highs for the best buying opportunities on Wednesday.

It’s also important to remember that we haven’t reached the measured-move objective yet, so there may still be some gas left in this tank, but make no mistake, the wise traders are sitting on hands, waiting for the pullback.

Gold Sets Up for the Short-Covering Rally

Gold is bullish with a 123-Reversal coming off the lows of the monthly trading-range, which tells me to look for buying opportunities going back into the original range again tomorrow morning.

Knowing this, I can see the 123-Reversal off the lows, so I’m waiting for entry down at the low of a new Hidden Channel.

Euro is Waiting on the Bulls (To Fail!)

Euro is bearish with a strong run lower, completing channel rotation, and the measured-move before the sellers starting taking profit.

Completing the measured-move is a big clue, because in most cases, we should see a small bounce, followed by another round of selling-opportunities using a buyer-failure pattern just above the high of the weekly channel.

“Many of life’s failures are people who did not realize how close they were to success when they gave up.” – Thomas Edison.