Squeeze Alert!! This Slingshot Reversal Could be a MONSTER!!
Woah, tomorrow’s lookin’ great!
Markets are bearish, but look closely and you’ll see (3) three reasons why this short-squeeze could be the biggest trade of the week!!
Emini and Nasdaq both made big runs lower today, but they stalled at major support with a trading-range overhead just BEGGING for a reversal!!
Crude Oil is bearish and still trying to retest yesterday’s low with a range above us – I’ll be watching for signs of exhaustion before it POPS!!
E-Mini S&P (ES):
The Emini is bearish and trying to retest today’s low, but this recent bounce into a range gives buyers a window of opportunity to run price back to weekly highs.
Keys to Success:
- Strong move lower for the bears wants to be retested, but this bounce up into a range (magnet) gives buyers the chance to grab a reversal.
- Buyers want a reversal off major lows, or a breakout going higher.
- Sellers want ‘traps’ on the way back to the lows, or a strong breakout back to 4000.
E-Mini Nasdaq (NQ):
The Nasdaq is bearish with a strong move lower today, but buyers have a great opportunity for a reversal because we’re trading around major lows with multiple ranges above us.
Keys to Success:
- Strong move down says bears want a retest, major lows from yesterday still holding as support, and multiple ranges above us.
- Buyers want a reversal off today’s low, or a breakout going higher.
- Sellers want traps on the way back to major lows, or breakouts down to 12345.
Crude Oil Futures (CL):
Crude Oil is bearish as sellers try to retest yesterday’s low, but we’re sitting near major support with multiple ranges above, so buyers have a great opportunity for a reversal if sellers fail their breakout.
Keys to Success:
- Sellers still trying to retest yesterday’s low, bullish into a range today, sitting at major support levels.
- Buyers want a reversal back into the range, and a slingshot breakout higher.
- Sellers need to a strong breakout through these lows.
