End Of Day Post

The bulls edged out the bears today, as we regained all of the day's losses to close flat on the session. Yesterday's move confirmed a lower pivot point in the markets. However, with amount of bearishness we have been seeing lately, we were not quite sure how far up this bounce would go.

Today's move does indicate bullish presence and could suggest that we make another bullish move tomorrow (Friday). Hammer candles are usually a bullish sign, but we did see a very similar pattern last Thursday which was overshadowed by a shooting star the next day. Try and keep this in mind as we close out the week tomorrow. Let's take advantage of either direction.

There are many opportunities out there, so take them as they confirm. We are still within the trading ranges of these markets and can benefit from a 3-5 day move in either direction. Stay mindful of support and resistance levels as they are tested.

Mid-Week Outlook:

• Bull: 6%
• Sideways: 34%
• Bear: 60%

Have a great night,

Maverick Trading