BREAKOUT ALERT!! This ‘Short Squeeze’ Could Be Huge!!
Wow, Tuesday trades look great!!
Bulls are trying to break above key resistance levels as we come out of the Holiday Weekend…
Sellers will try to defend, but this short squeeze could be the biggest trade of June if they fail!!
Emini and Nasdaq are both range-bound and pushing for a breakout going higher. Keep these (3) breakout patterns on your radar for Tuesday!
Crude Oil is bearish into a range – I’d love to short off these highs, but I’d rather grab this short squeeze instead!!
E-Mini Nasdaq (NQ):
The Nasdaq is bullish and trying breakout to new highs. Buyers will be looking for entries on strong breakouts, or pullbacks off support levels below the range.
Keys to Success:
- Bullish rotation off range lows, Bullish hidden channel, Last week’s GAP.
- Buyers want breakouts to new highs, or pullbacks to channel lows
- Sellers want a strong 123-Reversal to get back control.
E-Mini S&P (ES):
The Emini is bullish and trying to break through major resistance into blue skies overhead. Buyers would love to buy breakouts, or pullbacks off the low of this channel.
Keys to Success:
- Bullish rotation off range low, failed triangle rotation, Last week’s GAP.
- Buyers want breakouts higher, or pullbacks off channel lows
- Sellers need a reversal off the highs for a retest of last week’s low.
Crude Oil Futures (CL):
Crude Oil is bearish into a range, with sellers trying to hold a key resistance level overhead, and buyers trying to breakout back into the range above us!
Keys to Success:
- Bearish range, Major turning point above us, Gas tax waiver?
- Buyers want a breakout going higher, or buying off range lows.
- Sellers need to push higher for best shorts, or breakout lower on strength.
