A Buy Setup May Be Coming, But Beware of Fake-Outs

A buy set up for a possible year end rally looks like it’s on the table but first a false spike in either direction looks like it’s shaping up.

Here are the levels to watch and the pattern to look for.

A Blade Runner set up on trade above an hourly right shoulder of an H&S on the SPX could see a push to 2800 plus which would be a good setup to trade shorts with the shorts…in other words short into the shorts that are getting squeezed.

Yesterday was an NR 7 Day and likely we’ll see another tight range today but tonight should be a wild Pajama Trade with the Algos in Dr. Denton’s.

Remember the futures were down 100 points initially on the Trump victory two years ago.