Did this “NFP Retest” Just Setup a MASSIVE SHORT SQUEEZE??
Weekend’s over – back to work!
Everything’s bearish right now, with sellers looking for another leg lower tomorrow…
But did you see where we ended today? Could today’s move lower be setting-up a massive short squeeze for tomorrow? I sure hope so, here’s why!
Emini and Nasdaq are bearish, but we’re sitting right on last Friday’s Non-Farm Payroll lows! I’m looking to short the next good signals, but I hope we get this squeeze instead!
Crude Oil is bearish with a massive run lower – sellers will be eager to short the next bounce, but timing the entry might not be as easy as you think!
E-Mini S&P (ES):
The Emini is bearish with a strong move down today, telling us that sellers should be looking for a retest of today’s low.
But don’t forget, we just retested last Friday’s big Non-Farm Payroll lows, so buyers have a great opportunity to grab a reversal.
Keys to Success:
- Strong move down, support trend-line, retest of Friday’s low.
- Bears want a pullback and a retest of today’s low
- Bulls want a reversal back up into the range from late last week.
E-Mini Nasdaq (NQ):
The Nasdaq is bearish with a strong run lower today, telling us that sellers will be looking for ways to retest today’s low, while buyers look for a reversal back into the range(s) above us.
Keys to Success:
- Strong move down, support trend-line, retest of Friday’s low.
- Bears want a pullback and a retest of today’s low
- Bulls want a reversal back up into the range from late last week.
Crude Oil Futures (CL):
Crude Oil is bearish with a large, strong move lower, telling us that sellers will be looking for a relatively deep pullback and a run back to retest today’s low.
But the big question right now is, how will markets digest the $60 Russian Oil price cap? That’s something we will be watching closely.
Keys to Success:
- Strong Move Down, Big Move down
- Bears want a deep pullback and a retest of the low
- Bulls want a reversal off these lows, back up to the range overhead.
