I look for pullback trade set-ups in trending markets and one helpful tool I use is my trend map. I follow 37 markets and break down each market into 5 categories:
double green (very bullish)(5)
single green (bullish)(4)
yellow (neutral or sideways)(3)
single red (bearish)(2)
double red (very bearish)(1)
Here is my futures markets Trend Zone as of Friday’s close. This past week we continued to see 28 markets sporting a 4 or a 5 on the spectrum. However, the most bullish increased from 12 to 16. This truly is a risk on market right now. The most interesting market to me right now is Gold. It is now double red, which is very bearish. This is the first time Gold has been double red since I starting posting my trend zones back on 7/31/20. I will be writing an article about Gold later this weekend. Keep an eye out for it.
|Very_Bullish (5)||Bullish (4)||Neutral (3)||Bearish (2)||Very_Bearish (1)|