This *FOMC SQUEEZE* Could Be an Easy 15x on Thursday!!
*Reaction* Thursday – Let’s do this!!
With FOMC behind us, and professionals back to work tomorrow, we have plenty of trading opportunities to choose from…
Markets made a strong run lower this afternoon, so pullbacks are on our radar – but the ONE TRADE I’m praying for is this FOMC SQUEEZE!!
Emini and Nasdaq are bearish at the lows of a weekly range – I’m certainly looking for pullbacks, but I’d rather grab this “short squeeze” reversal instead!
Crude Oil is bearish into a range – I’m open to a breakout going lower, but this “slingshot reversal” will be incredible if it fails!!
E-Mini Nasdaq (NQ):
The Nasdaq is bearish with a strong move lower, but we’re sitting at the low of an expanding triangle, suggesting buyers will be looking for opportunities to go back up into the range tomorrow morning.
Keys to Success:
- Strong Move Lower, Expanding triangle, Major Support Below
- Buyers want a seller failure for a reversal back higher
- Sellers want to hold the pullback to confirm the breakout.
E-Mini S&P (ES):
The Emini is bearish with a strong run lower, telling us that sellers will be looking for another leg in the same direction.
Look closely, we’re at the low of a range, so buyers will be looking for them to fail!
Keys to Success:
- Strong move lower, expanding triangle, major support below
- Sellers want to hold the breakout for another leg lower
- Buyers want a reversal off today’s low
Crude Oil Futures (CL):
Crude Oil is bearish into a range, while also sitting at the lows of the weekly range. Sellers need a firm breakout, or buyers will push this back higher!
Keys to Success:
- Bearish range, support below, multi-day range
- Bears need a strong breakout lower
- Bulls want sellers to fail so they can get a reversal
