Everyone’s waiting on inflation news from China, and this clue on the 60-minute chart tells me this reversal could be a monster!
E-mini is bullish after this afternoon’s reversal, and buyers would love to grab a 2-leg pullback before we retest today’s high!
Nasdaq is bearish, and sellers will be looking for a breakout-pullback to retest the lows!
E-Mini S&P (ES):
Emini is bullish after a strong reversal off today’s lows, suggesting that buyers will be looking for 2-leg pullbacks to buy the dip.
The big question is China – they post inflation data just before midnight tonight
E-Mini Nasdaq (NQ):
Nasdaq is bearish with a large bounce off today’s lows, telling us that sellers will likely be looking for bull traps to short back to the lows tomorrow morning!
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