This DT Reversal Could EASILY 15x Tomorrow!
One more day, let’s make it count!!
Markets are bullish going into the close, but wait till you see these charts tonight… You’ll love this double-top reversal to finish the week with a bang!
Emini and Nasdaq made strong runs higher this afternoon – we have major resistance plus a range below us? Look out below!!
Crude Oil is bullish, and I certainly have a pullback trade on my radar, but you better not miss this “pop and grind” reversal going back to the range!
E-Mini S&P (ES):
Emini is Bullish with a Strong Spike Higher!
Buyers have control on the Emini with a strong spike higher, suggesting that buyers will be looking for a retest of the high and maybe another leg higher.
Buyers have to be careful right now because that 4303 area is a major top from earlier in the month. Best to wait for a 123-breakout and buy the first pullback.
Sellers have plenty of options. They can see a failure off the major highs, or sell a reversal going back into the range below us.
Keys to Success:
- Strong spike higher says to respect the bulls, but major resistance says better trades are short until we get a breakout.
- Buyers want a 123-breakout going through these highs
- Sellers want a double-top reversal, or trade the move back to the range.
- Breakout is easy for both sides, plenty of open space.
E-Mini Nasdaq (NQ):
Nasdaq spikes higher, but can they hold it?
Bears have control on the Nasdaq after buyers completed their objective and sellers “jumped” off the moving-average to finish today’s session.
Sellers have all the options right now. They can sell a double-top reversal off the highs, or short the pops as we move back into the range below us.
Buyers need to stay patient for a breakout, but they don’t have much space overhead so trap entries will be preferred.
Keys to Success:
- Spike higher into major resistance, sellers JUMP off the moving-average
- Buyers need a breakout before they can buy
- Sellers want a double-top reversal, or a pop and grind going lower.
- Beware bull breakouts because there isn’t much open space
Crude Oil Futures (CL):
Crude Oil Spikes to $105, but where too next?
Buyers have control of Crude Oil at the momentum, but we just ran into major resistance and there’s a range below us acting like a price-magnet.
Buyers have to be careful here because this $105 area is major resistance. It’ll be safer to wait for a breakout on the way back to $109 highs above us.
Sellers have more options at this point. They can sell a double-top reversal, a 2-try trap, and a 123-Reversal going back into the range below them.
Keys to Success:
- Strong bull spike into major resistance with a range below us.
- Buyers want a breakout to keep going to $109
- Sellers want a double-top reversal, or a 123-Reversal going lower
- Buyers have plenty of open space for a breakout higher.
