“Big Picture” Charts as of Friday’s Market Close
Now let’s take a look at the Russell 2000, Nasdaq, and S&P 500 trading action going into next week.
The goal is to identify the trend and pick our spots.
Russell 2000 Futures – TF
Nasdaq Futures – NQ
S&P 500 Futures – ES
Crude Oil Futures – CL
As stated last week, by no means does this indicate that the market may not pop back up as well. Your safest bet? Follow the momentum on any given day for the intraday setup and stay focused and disciplined. Longer term holdings for the upside will need to wait for some confirmation on at least the 4 hour chart to regain some and hopes of bullish posturing.
As always, be ready to trade in both directions.
Thanks for reading and best of luck this week.
The author trades these indices intraday and may have a position in the mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.