Hello Everyone,
Yesterday I constructed this chart and gave to Matt for the newsletter last night as I stated in the trading community that the bounce Tuesday/Wednesday was 3 waves (corrective 4th wave advance) and once again occurred into VIX expiration. During this decline, we have seen bull traps unfold several times with prices rallying into that expiration and then a rug pull gap down for a few days afterwards. Only exception was in March (price sold off into VIX expiration then impulsed higher 4 days) with all the other months seeing a rally to set the trap. So many brutal bull traps this year following strong closes.
ES Support 3625-40 3500 Resistance 3690-95 3720-30
The US markets are closed on Monday.
Please take a moment to look at the trade ideas.
