We got the pullback we expected today, and now it’s time to look for ways to trap in sellers and squeeze their stops back to the highs…
But careful – bears have a lot of momentum right now – these (3) patterns will make timing the reversal much easier!
E-mini and Nasdaq both made big moves down today, telling us that sellers will be looking for another leg lower…
And while they’re trying to sell, we’ll be looking for ways to trap ‘em in and buy into their stops!
E-Mini S&P (ES):
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E-mini is bearish with a big move lower, telling us that sellers will be looking for ways to retest today’s low, followed by buyers looking for double-bottoms.
E-Mini Nasdaq (NQ):
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Nasdaq is bearish with a strong range-breakout telling us that sellers will be looking for a breakout-pullback to retest the lows.
Buyers will be waiting for ways to buy those lows because the 60 minutes is still overall bullish.
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