These (2) Fake-Out Breakouts Could Be EASY MONEY on Tuesday!!
Short week ahead, let’s go get some!
Markets are range-bound going into Tuesday, and as much as I’d love to see a big breakout, we know the EASY MONEY will likely be these (2) Fake-Out Breakouts tomorrow!
Emini and Nasdaq are trading sideways in a range – I’m keeping my eyes open for a breakout, but I’ll stay focused on these (2) FAKE-OUT Breakouts until we get one!
Crude Oil is bullish with a strong run higher – buyers will be looking for deep pullbacks to get long, and we’d be foolish not to watch this reversal pattern in case sellers come roaring back in again too!
E-Mini S&P (ES):
The Emini is bullish with price trying to complete a pendulum-swing “rotation off the lows” of today’s range.
Buyers will be looking for breakouts going higher, while sellers try to hold them back off the highs.
Keys to Success:
- Range, rotation off the low
- Bulls want a breakout higher, or a reversal off major lows
- Bears want a reversal off the high, or a breakout lower.
E-Mini Nasdaq (NQ):
The Nasdaq is bearish into a range, sitting on multiple support levels from today and last week.
Bears will be looking for breakouts lower on strength, along with buyer failures off resistance levels up overhead.
Keys to Success:
- Strong Move Retested, Bearish range, support below
- Bears want a breakout lower, or a reversal off the high
- Bulls want a reversal off the lows, or a breakout thru the highs
Crude Oil Futures (CL):
Crude Oil is bullish with a strong move higher, rotating off the low of today’s range.
Buyers would love a deep pullback to buy at a discount, or grab a trap on a breakout higher.
Keys to Success:
- Big Move higher, Range rotation off the low
- Bulls want a pullback to buy at a discount
- Bears want a reversal back to today’s low.
