The markets are shaping up to have one nasty open. It’s only 7am on the east coast and the futures are looking at 93 points down on the Dow, 16 points down on the NASDAQ and 11 points on the S&P. World markets are taking a beating with Asian markets selling off as much as 2.3% and the European are down an average of 2% also.

On the economic front, the Fed beings their 2-day meeting with a statement to be made by 2:15pm EST tomorrow. We also have Goldman Store Sales (7:45am), Redbook (8:55am) and Factory Orders at (10am).

Here are Today’s Trade Setups:

Bullish Candle Setups: WMS, NPBC, NTY, DRI, BCO (nice tweezers on this chart), AVD (very interesting chart)

Bearish Candle Setups: MOT

Ready to Pullback: SKF, FAZ, SEF (I thought that this was somewhat humorous on my screen returns – it encompasses the 1x, 2x, and 3x of the financial ETF shorts)

Ready to Bounce: LDK