END OF BULL MARKET?? This *REVERSAL* Has Buyers Worried!!!
Uh-Oh… is this Bull Rally Finally Over?
Today’s short-squeeze was fun (while it lasted), but momentum shifted this afternoon and this “pendulum-swing” reversal could spell disaster for the bulls!!
Emini and Nasdaq are bearish with a “pendulum-swing” off the highs – sellers are looking for shorts, but this DOUBLE-TOP short is my favorite!!
Crude Oil is bearish too – sellers are looking for entries back to weekly lows, but watch this BREAKOUT pattern for a move down to $90!
E-Mini Nasdaq (NQ):
The Nasdaq is bearish with price rotating off the high of today’s range.
Sellers will be looking for shorts on the way to completing their pendulum-swing down around 12700, then look for a possible snap back up into the range.
Keys to Success:
- Bearish rotation off the high, lower-high and lower-lows on big picture.
- Buyers want a breakout higher, or entries off support below the range
- Sellers want entries off resistance above the range, or selling channel highs on the way down to the pendulum-swing
E-Mini S&P (ES):
The Emini is bearish with buyers working their way down to the pendulum-swing below.
Sellers will be looking for entries off resistance on the way down.
Keys to Success:
- Rotation off the high, bigger picture LLs and LH’s
- Buyers need a reversal off the low, or a breakout higher
- Sellers want entries off resistance above, or breakouts thru lows.
Crude Oil Futures (CL):
Crude Oil is bearish with sellers rotating off the high of today’s range, trying to complete their pendulum-swing and breakout to new lows.
Keys to Success:
- Bearish rotation off the high, bearish long-term
- Buyers want a reversal off the low
- Sellers want entries off resistance overhead, and breakouts below
