Markets are bullish, but this simple clue on the 60 minutes tells us today’s move higher might be nothing more than a bull trap!
E-mini and Nasdaq are grinding higher this week, telling us the best entries will likely be below major swings on the 60-minute…
That leaves the door WIDE OPEN for sellers to short these pops, so keep this BULL TRAP on your radar – it could be easy money!
E-Mini S&P (ES):
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E-mini is bullish, but showing signs of exhaustion at today’s high with a range (magnet) below us.
Buyers need to see proof of a breakout higher, or sellers will attack looking for a pendulum swing back to recent lows.
E-Mini Nasdaq (NQ):
(Click on image to enlarge)
Nasdaq is bullish, but running into overhead resistance on the 60 minutes tells us this would be a great time for a bull trap reversal back to range lows.
Expect buyers to be waiting at range lows as well!
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