Runaway Market – This 10x Pullback Could Be HUGE!
Wow, tomorrow’s gonna be a great day!
Markets are bearish with a strong run lower today, which means I’m looking for ways to sell pullbacks tomorrow – one of them could easily 10x!
The Emini is bearish and melted down today. We never saw any decent pullbacks, so keep your eyes on this DEEP pullback tomorrow…
Nasdaq is bearish into a trading-range, but keep your eyes on this key resistance zone for the best entries short tomorrow…
Crude Oil is bearish too, but something’s not adding up on tonight’s chart, so I’m waiting for one important clue before I short the next pullback…
Remember – markets closed on Friday ahead of Easter, so we gotta make every trade count this week!
E-Mini S&P (ES):
The Emini is bearish with price “grinding” down the chart today.
With bears in control, and no decent pullbacks the entire move down today, it’s safe to assume that sellers will be looking to short any bounces off these lows.
I would also keep an eye out for a range down here, and if so, I’ll be looking for shorts up above the highs of that new range.
Buyers need to be very careful with all this bearish momentum and a big inflation report coming tomorrow morning. We need to see clear proof of a 123-Reversal before we can even consider buying.
Keys to Success:
- Big move down, no deep pullbacks
- Sellers are shorting into all decent bounces off the low
- Buyers staying patient for proof of a reversal
- If price breakouts lower, stay patient waiting to short those bounces!
E-Mini Nasdaq (NQ):
The Nasdaq is bearish and trading just below a range.
Bears have control, but this breakout isn’t enough to confirm a breakout, we’re either waiting to sell a deep pullback up inside the ‘Battle Zone’, or trade a 123-breakout going lower.
Buyers have to be careful on the Nasdaq as well. Buyers can look for a double-bottom reversal off these lows, but they’ll need to be careful trading a reversal with this range magnet waiting near the lows.
Keys to Success:
- Strong move down into a range says “sell above the range”
- Sellers want to short the pendulum-swing, or a breakout lower.
- Buyers will wait for a double-bottom reversal
- Watch a 123-breakout (or) Grind Breakout going lower.
Crude Oil Futures (CL):
Crude Oil is bearish into a range and sellers appear to be have failed their pendulum-swing off the high.
Bears have control, but something appears to be wrong as the sellers failed to complete this rotation off the range high.
We’re bearish, but sellers will need to stay patient using the “2-Try Rule” when selling the bounces going higher.
Buyers would love to buy a double-bottom reversal off today’s major low, or grab a 123-Reversal going higher ahead of major highs at 98.50.
Keys to Success:
- We’re bearish, but sellers appear to be failing
- Buyers can buy support levels below the range, and reversals
- Sellers wait for a pop higher, then sell the 2-try failure back down again.
- Make sure a bear breakout has strength because 92.10 is a major low.
