Markets are range-bound for tomorrow’s big CPI/Inflation report, which means everyone’s looking for a breakout…
But not so fast – smart money’s trading AGAINST those breakouts, here’s why!
E-mini and Nasdaq are bearish into ranges – I’m definitely open to a breakout lower, but my favorite trade for tomorrow is this bull trap off the highs!
Crude Oil is bearish with a strong move lower, but there are (2) important clues telling us this move lower might be nothing more than a trap!
E-Mini Nasdaq (NQ):
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The Nasdaq is bearish into a narrow range today, suggesting the sellers will be looking for entries at resistance levels above the range, along with breakouts below.
E-Mini S&P (ES):
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The Emini is bearish into a range, telling us that sellers will be looking for breakouts lower, or shorts off resistance levels above range highs.
Crude Oil Futures (CL):
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Crude Oil is bearish after going four legs lower today, but sellers appear to be struggling to retest today’s low, suggesting that buyers may get the opportunity to reverse price higher if they can’t hold down here.
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