The coming week (May 29-June1) will trend a bit more and in more symbols than this closing week (May 25), according to pivot math. A few narrow-range breakout setups exist, and gold already started its wide-range upturn. Crude Oil has a pivots-based breakout setup on weekly pivots, a weekly chart bearish inverted hammer sell signal as of Thursday night, and 3-day chart narrow-range breakout math
The upcoming week should offer a little something for every type of market participant from the casual to the day trader and from the weekly options spread trader to the four-week time frame! My best ideas for narrow range breakouts on trending pivots for trend-chasing traders are the S&P 500 and, possibly, crude oil and bitcoin. Other symbols are creating exciting range trades.
It is the season for trend and breakout traders, according to my chart range statistics, aggregate statistics, and pivots. I do love sideways markets like I love Nashville biscuits with slow-pouring molasses & butter. Trying to pinpoint range reversals is a thrill. However, these breakout markets, at this moment wrecking my range-prediction precision, are teaching me honesty, flexibility, and caring service to others.
My euro bear trade hit all targets early, and I anticipated a Wave Two bounce, but the yen is the symbol tossing a three-day chart hammer candlestick my way on my projected weekly lows and Camarilla pivots (weekly and monthly), with overhead targets of 0.009250-.009300 are expected should it rally.