Markets are bullish after today’s earnings report, but these (2) ranges on the 60m tell us this move might be nothing but a trap!
Emini and Nasdaq are pushing higher inside a channel, but did you see the new range develop after today’s earnings?
That range is a BIG CLUE, telling us TRAPS are probably where the easy money will be made tomorrow!
E-Mini S&P (ES):
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Emini is bullish into a range, telling buyers to look for bear traps to buy around the lows, and breakout-pullbacks thru the highs.
E-Mini Nasdaq (NQ):
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Nasdaq is bullish into a range, but the overall bear market tells us to expect sellers to look for reversals above range highs until we see a convincing breakout higher.
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