2 Secrets for Tuesday’s Trades
The month of December got off to a busy start today, with major news sending most of our favorite markets running sharply lower…
But when the dust finally settled, most of these markets are range-bound going into Tuesday morning, which tells me to look at (2) two important clues to find the best entry set-ups tomorrow morning – are you ready?
The Range is Easy on Oil, But Who Has Direction?
Crude Oil is bearish with a big triangle/range on the chart tonight, which tells me to focus on buying low, selling high, and avoiding the middle on Tuesday morning…
But the most important clue on this chart is what happened last Friday morning – because that big drop from last Friday still hasn’t re-tested it’s low and will most likely be trying to there tomorrow morning.
Bears are Patiently Waiting on the E-Mini ES…
E-Mini S&P is bearish with a strong run all the way down to fill the GAP from last weekend before turning sideways into a range-bound market…
And that big move down to start today’s session is the big clue, telling me to focus on selling into buyer-failures above the high of the range on Tuesday morning.
Nasdaq Buyers Will Be Hunting for Bottoms Here…
Nasdaq is bearish with a strong spike lower into a narrow trading-range, which tells me to buy the low, sell the high, and avoid the middle of the range on Tuesday.
But just like the Emini ES, the bearish move to start today’s session is the most important clue, reminding me to wait for a “nested” failure pattern if I want to buy the re-test of this morning’s low.
Buyers Have Two Reliable Options on Gold…
Gold is bullish and trading sideways inside a narrow range, which tells me to look for buy setups under the lows of the range, preferably down at the low of a new bullish hidden-channel…
But one clue also stands out to me, a strong move lower at the beginning of today’s session, which may signal another leg lower, and if so, I’ll be looking for buy setups just below the channel low, this time using a “nested” failure pattern to account for the bearish momentum.
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