March 31, 2016

“Setting a
goal, and taking action are the first steps in turning the invisible into the
visible.”

Notes for Tonight’s Newsletter:

The
end of the first quarter is almost behind us this evening as traders brace
themselves ahead of what is expected to be another bullish jobs
report tomorrow morning so we have a lot to prepare for in tonight’s video.

Crude
Oil looks ready to finish this bearish correction and head back to the
highs but we need to see the bears complete their third
leg down and then fail before the buyers will try to take it higher. We have multiple channels,
a wedge
and a measured-move
to work with this evening. The major
bull channel tells us the buyers will be looking to re-test the range-highs at
39.04. The recent bear channel tells us
the sellers will likely complete rotation
back to the lows, which will also complete a measured-move off the highs and we
expect to see the buyers look for a double-overshoot
of the lows to buy and then again look for seller-failure
at the bear-channel high for the move back to the highs. Sellers will need to wait for a higher price
to sell, such as up around the wedge
target overhead.

E-mini
S&P is range-bound
and looking to re-visit the highs tomorrow but we have a recent bear channel
telling us that the sellers will likely give this one more try before it goes
higher. We have a spike
& channel, a recent bear-channel, and a trading-range
to work with this evening. The day
started with a spike & channel that failed which tells us the sellers will
be gunning for the low of the spike down at 47.25. The recent bear-channel tells us that the
sellers will be aiming for the 48.75 level, and there’s also a gap
left un-filled just below us right now.
The range is the big clue tonight, and with a recent test of the low we
know the buyers will be looking to rotate price back to the highs tomorrow.

Gold
is bearish in the short-term but setting up for a move back to the highs
tomorrow after the bears finish their correction. We have channel,
wedge,
and a few measured-moves
to work with this evening. The bull
channel tells us the buyers will be gunning for the range-highs
at 42.3 and previous highs at 46.8 tomorrow (along with a possible
measured-move) but the recent bear wedge has a measured-correction
telling us buyers will likely try in the short-term but price will want to try
and re-test the wedge low before it goes back to the highs tomorrow so the
bulls will be looking for a failure.

Euro
is bullish with a spike
& wedge which tells us this may be a little tricky to find the best
entries back to the highs tomorrow. We
have a spike & wedge, trading-range,
and a gap to work with this evening. The
spike & wedge tells us the direction is clearly bullish but the buyers will
need either get a deep correction
lower or a push higher that pulls-back to the wedge before they try to buy this
tomorrow. The trading-range
is foggy but it provides an area of support down at 3798 that lines-up well
with a double-down
telling the buyers that will be an area to look for seller failures tomorrow on
the way back higher and there is an un-filled gap
up at the highs waiting to be used as a target.

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