Reversal Alert!! Run the Stops for Massive Gains!
What a difference a day makes!
What happened to all the bears? Sellers failed to finish what they started yesterday, which left the door WIDE OPEN for bulls to make ‘em pay tomorrow!
Emini and Nasdaq are range-bound, and a “failed rotation” tells us to focus on running the stops for an explosive pop higher!
Crude Oil is bullish into a range too – sellers have already tried once, which means we have ONE MORE shot to grab this before it launches!
E-Mini S&P (ES):
Emini is range-bound with a bull bias.
Buyers have control of the Emini, and with sellers failing to complete their pendulum-swing, it feels like buyers are in a position for a strong breakout through the highs.
Buyers will be looking for breakouts going higher, or reversals off support levels below the range.
Sellers have to be careful right now because momentum will be too strong to sell off range highs, and there is major support levels just below the range. Best to wait for a breakout lower.
Keys to Success:
- Buyers are rotating up from the low of this afternoon’s range.
- Buyers want to buy breakouts going higher, or reversals off major lows
- Sellers need to sit on hands and wait for a breakout going lower.
- Buyers have easy breakouts, sellers do not.
E-Mini Nasdaq (NQ):
Nasdaq is bullish into a narrowing range.
Buyers have control of momentum after sellers failed to retest yesterday’s major lows, leaving the door wide open for a bull breakout.
Buyers will be looking for entries off support levels below the range, along with breakouts going higher.
Sellers have to be patient for a reversal off resistance above today’s range, or breakouts going lower. Best to wait for a strong breakout lower.
Keys to Success:
- Bullish into a range, no good options for sellers.
- Buyers want a breakout higher, or reversal off the lows
- Sellers want to sell resistance above today’s range, or breakouts lower.
- Bull breakouts are easy, bear breakouts much harder.
Crude Oil Futures (CL):
Crude Oil is bullish with a pendulum-swing!
Buyers have control of momentum on Crude Oil and buyers appear to be rotating off the lows with the goal of breaking out thru the highs tomorrow.
Buyers will look for breakout opportunities going higher, along with reversals off support levels below the trading-range.
Sellers can look for reversals off the highs, along with breakouts going lower on strength.
Keys to Success:
- Bullish rotation off the low of the range.
- Buyers want a breakout through the highs, or a bounce off lows
- Sellers want to stop the breakout, or breakout lower themselves.
- Bull breakout looks likely, bear breakout needs more proof.
