The “Underbelly” Set-up

We continue to see mostly range-bound markets on the charts tonight, which means we’re focused on buying low and selling high failure set-ups on Wednesday…

But one chart in particular, has a very interesting set of clues – telling me to look for the “underbelly set-up” – are you ready?

Crude Oil Tells Me to Wait (But For What?)

Crude Oil is bullish with a strong spike running higher, which tells me to consider four possible chart patterns and two specific buy set-ups tomorrow morning…

And even with all this strength, the day started as a range, and when the dust settles, we’re most likely headed back into the range at some point on Wednesday morning.

E-Mini S&P Sinks Back into the Range (Now What?)

E-Mini S&P is bearish and trading back inside the range from Monday’s session, which tells me to look for sell set-ups using buyer-failures up above the high of the range on Wednesday.

And if price sinks lower, I’m watching the ‘pendulum swing’ as key support, followed by a “nested” seller-failure for the buy set-up going higher.

Nasdaq Tells Us to Keep Fading Those Breakouts

Nasdaq is bearish and trading in the middle of Monday’s narrow range, telling me to sit-on-hands and wait for the opportunity to fade the breakouts – buying low, selling high, and avoiding the middle.

Gold Needs to Prove This Breakout (Or Collapse!)

Gold is bullish with a strong run higher, trying to breakout of this range, and if it does, I’m looking to buy a pullback to the low of a new Hidden Channel…

But if these bulls can’t get the job done, I’m looking for a “nested” 2-Try Failure using the underbelly of the bull channel as key resistance for the sell.

Euro Grinds Lower, Looking to Sell the Bounce

Euro is bearish and headed back to re-test last Friday’s low, but I’m hoping we can get a sell set-up off the high of this Hidden Channel before we get there…

And ideally, we get an even deeper pullback so we can see off the range overhead using a buyer-failure set-up.

“Learn how to separate the majors and the minors. A lot of people don’t succeed because they major in the minor things.”