Finally – the Reversal We’ve ALL Been Waiting for!

This is the trade we’ve been waiting for…

We’re back in the action for a new week and a new month of November, one of my favorite trading months of the year…

The Eminis are bearish into a range today, and even with buyers looking for a retest of today’s high, the easier money will be on the shorts going back into the range…

Oil is bullish (although it looks bearish at first glance) and I’m hoping the next leg higher runs right into my hidden channel we can sell it short back to the lows…

Plenty of great opportunities on our radar for tomorrow – are you ready?

E-Mini S&P (ES):

E-Mini Keys to Success:

• We’re bearish into a range on the Emini, telling us that sellers will be looking for shorts off resistance levels above the range, along with breakout entries going lower.
• Buyers need to wait for a change in momentum going higher, or they need to look for entry off support levels below the range.

Best Trades for Tomorrow: 

• UP – sell the buyer failure (or) buy the bull breakout
• DOWN – sell the rotation & sell the breakout (or) buy seller failure off lows.

E-Mini Nasdaq (NQ):

Nasdaq Keys to Success:

• The Nasdaq is bearish into a range today, which means sellers will be looking for shorts at resistance levels above the range, along with breakouts going lower.
• Buyers certainly have a nice pop into the close, but they’ll need to proof this breakout is legit before they can buy up here.

Best Trades for Tomorrow: 

• UP – sell the buyer failure (or) buy the bull breakout
• DOWN – sell the buyer failure, sell the rotation & sell the breakout

Crude Oil Futures (CL):

Crude Oil Keys to Success:

• Strong bull spike higher, but buyers appear to struggling with sellers looking for a retest of today’s low.
• Sellers will be looking for shorts at resistance levels up overhead, or breakouts before we retest the lows.
• Buyers have a difficult path ahead with a lot of resistance above us, but a strong breakout for the bulls will easily give us opportunity for another leg higher as we hunt for major highs.

Best Trades for Tomorrow: 

• UP – sell the buyer failure (or) buy the bull breakout
• DOWN – sell the bear breakout (or) buy the seller failure off major lows
• SIDEWAYS – watch for a range tomorrow, then buy low & sell high with failures.