Roadhouse

For the second time this week we find ourselves at an inflection point on the equities side. Is this the moment when the bears are finally ready to strike? I know what you’re thinking: Lucy has been pulling the ball at the last moment – how many times now? More than we care to recall I’m sure. No matter what happens equities always seem to be able to pull a stick save at the very last moment. Why would this time be different?

But just like Charlie I just can’t help myself when I see a setup like the one right now in the E-Mini futures. But unlike him I do have a plan B – meaning I am willing to change direction and perhaps manage to serve Lucy what she’s got coming next time 😉

For the record (and despite my teaser above) I personally do not care which way the pendulum swings here. What I do care about is grabbing a seat on the right bus. Right now the bears have a real chance to pull a little surprise ahead of the weekend. Will they wind up botching it again? Yes, most likely – which is why I’m ready to flip for a long position if we breach 2050 which means that we’re  most likely going for 2060 where the series of lower highs and lower lows would be broken.

This is a brilliant setup folks and not one to be missed. Have fun with it but let’s keep it frosty and make sure to stick with your respective trading rules. If things start picking up steam expect counter spikes and fake outs in either direction.

And don’t forget:

Roadhouse!