GAP DOWN! This BEAR TRAP Could Easily 15X Tomorrow!!
Big GAP DOWN at the Open – Woah!
Earnings are out, and the market just raced lower… does that mean it’s time to sell?
Heck no! The 60-minute, combined with today’s ranges tell us this is probably one big BEAR TRAP!
Emini and Nasdaq both tumbled lower after today’s earnings, and everyone’s looking for ways to get long into this move…
But we can’t force it – that’s a lot of bearish momentum – wait for this Crown reversal pattern instead, it’ll probably be worth it!
E-Mini S&P (ES):
Emini is bearish into a range, telling us focus on failures around the edges of the range to “buy low and sell high”, then use “traps to trade the rotation back and forth.
E-Mini Nasdaq (NQ):
Nasdaq is bullish into a range, but sellers are clearly trying to hold the breakout-pullback from yesterday’s range.
Sellers will likely look for breakouts lower, while buyers hunt for reversals to buy the dip on the 60min timeframe.
