Can Buyers Complete the ‘Snap Back’ on Wednesday?

What’s the first thing I look for after a Holiday Weekend?

If the markets are open on a Monday holiday, one of the first things I look for is the “Snap Back” setup the following day…

We got half the setup completed today, so I’ll be watching to see if the buyers can finish the “Snap Back” on Wednesday.  Are you ready?

E-Mini Keys to Success:

• Bears took control early, completed their measured-move, but for some reason they haven’t retested today’s low, which tells me something’s wrong.  Maybe the range?
• Bulls Want to reverse momentum and retest today’s high.
• Bears Want to continue the move back to last week’s trading-range < 3900.

Best Setups for Tomorrow: 

• [UP] – nested failure to sell (or) 123-Reversal to buy
• [DOWN] – 123-breakout to sell (or) crown reversal to buy
• [SIDEWAYS] – sit on hands, look to fade the breakouts

Crude Oil Keys to Success:

• Bears ran it lower to fill the “Weekend GAP” and finished the day in a range.
• Bulls Want to breakout higher and retest Monday’s high
• Bears Want to continue this move back to the range around 58.00

Best Setups for Tomorrow:

• [UP] – Nested Failure to Sell (or) 2-try trap to buy
• [DOWN] – 123-breakout to sell (or) crown reversal to buy
• [SIDEWAYS] – sit on hands, wait to fade the breakouts

Gold Keys to Success:

• Day began with a range, followed by strong runs back and forth.  Strange how they haven’t retest today’s low, might be the 1800 round number acting as a magnet.
• Bulls Want to go back to the range where we came from
• Bears Want to retest the major low at 1784.7 and possibly more.

Best Setups for Tomorrow:

• [UP] – nested failure to sell (or) 123-Reversal to buy
• [DOWN] – 123-breakout to sell (or) crown reversal to buy
• [SIDEWAYS] – wait for the range, then buy low, sell high with failures