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. If a market is in bold, then it has moved higher on the bearish (1) to bullish (5) spectrum. If a market is in italics, then it has moved lower on the bullish (5) to bearish (1) spectrum.
|Very_Bullish (5)||Bullish (4)||Neutral (3)||Bearish (2)||Very_Bearish (1)|
The overall temperature is still bullish with 27 of 37 markets sporting a 4 or 5 on the spectrum.