Markets are bearish after today’s Bull Trap, but have you seen where we are on the 60minute?
Buyers are in the perfect spot for a reversal – the only question is… will we get the signal?
E-mini and Nasdaq tumbled off weekly highs today, and now we’re sitting at support below the weekly range…
This is the perfect spot for a bullish reversal, but we’ll need to wait for THIS SIGNAL before we commit!
E-Mini S&P (ES):
(Click on image to enlarge)
Emini is bearish with a strong move down, but we’re sitting at support below the weekly range, so it’s safe to assume buyers will be looking for a reversal back to range highs tomorrow.
E-Mini Nasdaq (NQ):
(Click on image to enlarge)
Nasdaq is bearish and just went all the way back to Monday’s low, where we expect buyers to be waiting for a reversal back up into the weekly range.
The only question at this point is – how will tomorrow’s CPI report affect this?
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