SHORT SQUEEZE!! This ‘Stop Run’ Could EXPLODE on Thursday!!
Wow, tomorrow’s looking great!!
Markets were choppy today, but from what I’m seeing on the charts, that’s about to change!!
Sellers have control still, but there are (2) big reasons why a “short squeeze” might be the biggest move of the week!
Emini and Nasdaq are bearish into ranges – I’d love to sell the next deep pullback off today’s low, but these (2) clues tell me to think again!!
Crude Oil is bearish too, but there’s (1) easy clue that tells me this double-bottom reversal might be the best trade to finish the week!
Tomorrow’s the last full day of the week, let’s make it count!!
E-Mini Nasdaq (NQ):
The Nasdaq is bullish as price tries to rotate up off today’s lows. Buyers will be looking for breakouts higher, or reversals off today’s low.
Keys to Success:
- Bullish rotation off the lows
- Buyers want a breakout higher, or a reversal off today’s low
- Sellers want to trap in bulls as price goes higher, or trade breakouts through the lows
- Beware bear breakouts, major support just below!
E-Mini S&P (ES):
The Emini is bearish, but with price rotating off today’s low, this short squeeze could be explosive! Buyers will be looking for breakouts higher, or reversals off today’s low.
Keys to Success:
- Bullish rotation off the lows
- Buyers want a breakout higher, or a reversal off today’s low
- Sellers want to trap in bulls as price goes higher, or trade breakouts through the lows
- Beware bear breakouts, major support just below!
Crude Oil Futures (CL):
Crude Oil is bearish with a strong move lower, but symmetry off today’s high, combined with support levels below yesterday’s range tell me to it might not be easy to sell short. It’s safe to assume buyers will be looking for a reversal!
Keys to Success:
- Strong move lower, Symmetry off today’s high
- Buyers want a reversal off these lows
- Sellers want pullback entries, or a breakout lower.
- What would a breakout look like? Could it snap back?
