The Only Trade You Need for Non-Farm Payrolls

Are you ready for Non-Farm Friday?

Everything’s bullish going into Friday’s session, but I’m having a hard time finding any decent buying opportunities on the charts…

Both the Emini and Nasdaq are bullish into the close, but look BIGGER and you’ll see we’re in a great place to get short.  Keep an eye out for these 2 short setups…

Crude Oil is bullish into a range, but I doubt we’ll see many buyers getting in way up here – I’d rather short these highs and buy it back at a much lower price tomorrow morning… let me show you how…

E-Mini S&P (ES):

E-Mini Keys to Success:

Emini ES is bearish with a strong run higher today, finishing with a strong bounce off the lows.

I’m looking at this chart like one big spike and channel pattern.  Yesterday’s selloff just kept grinding lower, never really giving sellers a chance to get in at any decent price, until now.

Momentum is quite strong for the bulls right here, so the best way to short this will be to use a 2-try failure, followed by a “first test” of the new channel low.

Price may continue higher overnight, but it’s way too late to look for longs.  Better to wait for buyers to fail and short back into the range if we do go higher.

E-Mini Nasdaq (NQ):

Nasdaq Keys to Success:

Nasdaq is similar to the Emini in the sense that yesterday’s big push lower hadn’t given sellers any decent bounce to short until now.

Sellers would love to sell off these resistance levels, but this pop higher is so strong, it’s best to use the 2-try failure for the short back down again.

Crude Oil Futures (CL):

Crude Oil Keys to Success:

Buyers have control on Crude Oil with a strong blast higher into a range around $90.

Buyers have momentum on their side, but I would assume most buyers will be waiting for a deep pullback off the highs before they consider buying anything.

In addition, the last couple weeks on Crude Oil have seen sharp pops higher, followed by deep corrections to attract more buyers at lower prices.

Combine the fact that we’ve gone so far, with the personality we’ve seen lately, and I’ll be looking for ways to short these highs and pick it back up around the 88.74 range below us.