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Crude Oil is bearish and trying to re-test today’s low, but this rising support trend-line is making our job more difficult, telling us to wait for buyer-failure in the ‘battle zone’, or look for traps down near the lows.
S&P just got clobbered with a monster “gap down” at the overnight open, but today’s session ended with a triangle, so we’re watching to see the sellers try twice for buying opportunities back into the range tomorrow. (if not, a move to last week’s low)
Nasdaq is bearish after a big “gap down” this evening, which tells us to keep our eyes open for clues, such as “Acceptance” or “rejection” to help us plan our trades accordingly tomorrow.
Gold is bullish with a Spike & Channel, telling us to look for a deep, ‘2-legged pullback’ down into the ‘battle zone’ for a target going to the “triple-up” waiting overhead.
Euro is bullish and trying to break free of a triangle, which tells us to avoid chasing the move higher, waiting for the '2-Try Rule' and seller-failure below the moving-average for a re-test of the high.