This Bear Trap Could Be Your Biggest Trade Of The Week

By Joseph James of Sideways Markets

Head-Trader at SchoolOfTrade.com • May 23, 2023 at 10:25 PM EDT

Markets tumbled lower this afternoon, but there’s something about this reversal that smells like a bear trap.

Excited for tomorrow, you should be too!

Markets tumbled lower this afternoon, but there’s something about this reversal that smells like a BEAR TRAP!

Keep these (3) reversal setups on your radar tomorrow – this could be your biggest trade of the week!

E-mini and Nasdaq are bearish after a big drop this afternoon, but I see (2) reasons why this is likely just a bear trap – don’t sell short until you watch!

Crude Oil is bullish and trying to punch thru overhead resistance – I’m watching for a Crown Reversal, and (3) breakout patterns tomorrow!

E-Mini S&P (ES):

Emini is bearish into a range, but it’s hard to tell if today’s move lower is a breakout-pullback of last week’s range, or a full-blown reversal!

E-Mini Nasdaq (NQ):

(Click on image to enlarge)

Nasdaq is bearish into a range after today’s breakout lower, but we’re sitting on major trend-line support on the 60m telling us this might be nothing more than a pullback in the overall bullish trend.

Crude Oil Futures (CL):

Crude Oil is bullish and trying to break thru major resistance overhead. Buyers will be looking for breakouts, while sellers look for reversals off the high.

Video Length: 00:36:37

More By This Author:

This Breakout Pullback Could Easily 15x Tomorrow
These 3 Reversals Could Be The Biggest Trades Of The Week
These 2 Bull Traps Could Make Your Entire Week

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Also Mentions:

QQQ OIL SPY USO NDX SPX

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