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. The overall temperature made a major shift this week towards neutral. We went from 24 markets sporting a 4 or 5 on the spectrum down to 15. This is now a 4 week decline in total bullish markets. Neutral went from 4 to 9, while total bearishness went from 9 to 13. The biggest mover week to week was the British Pound (BP). It moved down 3 slots from double green (very bullish) to red (bearish). This could be the start of a trend change. The following markets moved down 2 slots from bullish bias to neutral or bearish bias: CD, EC, ES, DX, NG, NQ, SF, SI, YM, and RB.
| Double_Green | Single_Green | Yellow | Single_Red | Double_Red |
| Very_Bullish (5) | Bullish (4) | Neutral (3) | Bearish (2) | Very_Bearish (1) |
| @AD | @FV | @CD | @BP | @HO |
| @BO | @NE1 | @EC | @CL | |
| @C | @TY | @ES | @FC | |
| @CC | @W | @DX | @RTY | |
| @HG | @CT | @NG | @GC | |
| @KC | @NQ | @US | ||
| @LH | @SF | @JY | ||
| @MP1 | @SI | @LC | ||
| @S | @YM | @PL | ||
| @SM | @RB | |||
| @OJ | ||||
| @SB | ||||
| 10 | 5 | 9 | 12 | 1 |
| 27.03% | 13.51% | 24.32% | 32.43% | 2.70% |
**Symbols above from Tradestation**