Today was a classic trappy balance day in ES. Technical analysis 101: After clean trends, we get trappy consolidation and after ES put in 4 massive, green trend days, today we consolidated. Like most consolidations, this trapped both bulls to the upside, bears to the downside, to close the day out essentially in the exact same spot around 4600.
Since we’ve had multiple days of clean trend, I think trading could be tricky for the next few days - this means its time to get back into tactical scalping mode as there should be plenty of traps for both bulls and bears. However, I don’t think bulls are *quite* done just yet. Next week, is seasonally the 5th bullish of the year. Here’s what I’m looking for