“Yesterday is not ours to recover, but tomorrow is ours to win or lose.” –Lyndon Johnson
Notes for Tonight’s Newsletter:
Markets are reacting well to the FOMC Report this afternoon and we have some big opportunities going into Thursday's Session; Crude Oil and S&P are bearish while the Gold and Euro are bullish ahead of the opening bell in Asia.
Crude Oil is bearish with a strong move lower to finish the session today but an overshoot of the bear-channel tells sellers that prices are too cheap to sell now and the most reliable opportunities will come after a correction back to the 'battle zone' up around $48.00 tomorrow.
E-mini S&P is bearish after breaking out of a trading-range this evening but we know that most breakouts fail on their first attempt and combined with an overshoot of a channel-low we expect to see a short-term correction back towards the 2070.0 area before the sellers re-enter the market lower tomorrow.
Gold is bullish after a somewhat somber tone to the FOMC report this afternoon and a bull channel tells the buyers to look for opportunities using 'traps' below prior swings with a target back to the highs tomorrow.
Euro is bullish after this afternoon's FOMC report but after a large overshoot of the channel highs we assume there will be a large correction back at channel lows telling the buyers to stay patient and watch for clues of seller-failure before buying more of this market tomorrow.
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