Markets are bullish overall, but did you see that “gap fill” earlier this morning?
There’s one big clue on the charts right now, telling me this Bull Trap is likely where the easy money is made tomorrow!
Emini and Nasdaq gapped higher Sunday evening, then came all the way back to fill that gap on Monday morning…
Don’t assume that “gap fill” is the end of the Bears…
Because the way it looks right now, we might be in store another leg lower!
E-Mini S&P (ES):
Emini is bullish overall, but this recent strong move lower suggests sellers will be looking for a retest of that low BEFORE we go back to retest all-time highs,
E-Mini Nasdaq (NQ):
Nasdaq is bearish into a range, and sellers just made a strong breakout lower, that will most likely need to be retested before buyers can take it higher!
Disclaimer: Join our Free Trading Course. Joseph James, SchoolOfTrade.com and United Business Servicing, Inc. are not registered investment or trading advisers. The services and content provided by SchoolOfTrade.com and United Business Servicing, Inc. are for educational purposes only, and should not be considered investment advice in any way. U.S. Government Required Disclaimer - Commodity Futures Trading Commission. Futures and Options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results. CFTC RULE 4.41 – These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or-over-compensated for the impact, if any, of certain market factors, such as liquidity. Simulated or hypothetical trading programs, in general, are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown.
