This *POP & PULLBACK* Could Be Easy 10x on Non-Farm Friday!!
Non-Farm Payrolls, here we go!!
Markets are range-bound with lots of bearish clues ahead of tomorrow’s big Job’s Report…
I’d love to short the highs of this range, but I’ll gladly take this “pop and pullback” if “good news is bad news” tomorrow morning!
Emini and Nasdaq are bearish looking for breakouts – best entries are above range highs, but you can’t afford to miss this “pop and pullback” if the market surprises us!
Crude Oil is bullish, but showing signs of exhaustion – buyers desperately need a breakout of this weekly range, or sellers will go on the attack!
E-Mini Nasdaq (NQ):
The Nasdaq is bearish with sellers trying to breakout below today’s range.
Failed bullish rotation gives sellers all the options right now, and they’ll be looking for entries on breakouts lower, or failures off the high.
Keys to Success:
- Bear bias, range with failed bull rotation
- Bears want breakouts lower, or buyer failures off the highs
- Bulls want a double-bottom reversal at major lows, or breakouts higher
E-Mini S&P (ES):
The Emini is bearish with a wedge, telling us that sellers will be looking for entries on the next bounce up off the lows, or breakouts going lower.
Buyers beware, not many good options for getting long at this time.
Keys to Success:
- Bear Bias, failed range rotation, bear wedge
- Bears want entries off resistance above the range, or breakouts below
- Bulls want a double-bottom reversal, or strong breakout higher
Crude Oil Futures (CL):
Crude Oil is bullish and running into multiple resistance levels above today’s range.
Buyers need a strong breakout thru this level or sellers will look for ways to short back to the lows tomorrow morning.
Keys to Success:
- Bull bias, trading-range, major resistance levels
- Bulls want a breakout or double-bottom reversal off the low
- Bears want a reversal off the high, or a breakout lower on strength.
