Traders Daily Direction
This Week’s Big Idea for Crude Oil Futures
I share my top trade setups whenever I have a big, new idea for the market… And to invite global comments, I provide the core chart and discussion on my TradingView page. After falling below its longer term up trend line briefly last week, the crude oil (CL) futures market is bouncing back in a big … The post This Week’s Big Idea for Crude Oil Futures appeared first on Josh Daily Direction.
Finding Trading Patterns in S&P 500 Futures
Today, I want to share some of my insights on how to recognize market trading patterns. Being able to spot specific market patterns is crucial to knowing when to buy and/or sell a particular market. But how do we go about figuring out what the market is doing? Well, we rely on our time frame … The post Finding Trading Patterns in S&P 500 Futures appeared first on Josh Daily Direction.
Bulls Fight Back, But Bearish Trend Remains
The bulls are fighting back against the bears as the new week begins… After closing below the June lows last Friday, the Nasdaq 100 (NQ) futures market is bouncing back today by 1.6%. Stocks are up across the board, but it’s important to remember that this market is still firmly in a down trend. Therefore, … The post Bulls Fight Back, But Bearish Trend Remains appeared first on Josh Daily Direction.
Candlestick Charts Don’t Have To Be Complicated
I often get questions from traders about how my time frame charts work. More specifically, they want to know how to read candlestick charts. And that’s an important question to ask since our entire trade setup centers around our charts! But many financial gurus don’t like to give away this information. Luckily for you, I’m … The post Candlestick Charts Don’t Have To Be Complicated appeared first on Josh Daily Direction.
The Bull Case for Crude Oil
Following an incredible run higher at the start of the year, the crude oil (CL) futures market is down hard over the last few months. And after breaking below its longer term up trend line this month, the market is right back to where it started the year. However, the market is still testing support … The post The Bull Case for Crude Oil appeared first on Josh Daily Direction.
Time to Sell the Rip in ES?
The S&P 500 (ES) futures market had a big win yesterday, gaining almost 2% to fend off the bears at the June lows. However, the daily time frame remains in a down channel, and we are still looking for selling ideas. If we see the current bounce continue towards the top of the channel, that’s … The post Time to Sell the Rip in ES? appeared first on Josh Daily Direction.
Russell 2000 Hits Key Fibonacci Level
Regular readers know that one of the main technical analysis tools we use to track the market is the Fibonacci extension. Our research shows that markets often interact with these levels over time, so we always try to take them into account when making decisions on direction. Well, this week, the Russell 2000 (RTY) futures … The post Russell 2000 Hits Key Fibonacci Level appeared first on Josh Daily Direction.
How We Plan to Sell an NQ Rally
Last week’s 4.7% decline in the Nasdaq 100 (NQ) futures market brought the index right back down to its June lows. The market is clearly still stuck in a down trend, but this is an area where support could be found. And if we do see a rally in the NQ from here, we’ll be … The post How We Plan to Sell an NQ Rally appeared first on Josh Daily Direction.
BTC on the Verge of a Breakdown?
The BTC futures (BTC) market saw a nice pop earlier this month, gaining over 18% in just two days. However, all of those gains have now been erased, and BTC is back at its lows of the year. This fits with our analysis, as we continue to expect the market to sell off. However, when … The post BTC on the Verge of a Breakdown? appeared first on Josh Daily Direction.
Looking for Lower Prices in ES
Yesterday, the Federal Reserve raised its target rate range by another 0.75%… This was the third rate hike of this magnitude this year, and it looks like rates will continue to rise until inflation is under control. This tightening of monetary policy is hitting the markets hard again this week, and that’s keeping the S&P … The post Looking for Lower Prices in ES appeared first on Josh Daily Direction.
Small Stocks Back at Known U-Turn Level
Last week, we looked at the Russell 2000 Index (RTY) futures market as it was bumping up against its short term down trend line. Well, the market pulled back and is now at the bottom of its up channel again. From this point, it could go in either direction, but we still want to see … The post Small Stocks Back at Known U-Turn Level appeared first on Josh Daily Direction.
Looking for Short Ideas in the NQ
With the big selloff last week, the major indexes remain under pressure. In particular, the Nasdaq 100 (NQ) dropped 5.8% last week. The market hit the top of the daily channel and pulled back, and we are now expecting more downside ahead. Read on to see how the market is setting up for the next … The post Looking for Short Ideas in the NQ appeared first on Josh Daily Direction.
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