|
Good Wednesday morning,
Even with a punch that knocked the bulls to the mat, they once gain bounced back up and did the unthinkable! Honestly, even I was amazed at the fire power of the buyers, as a perfect gap down yesterday was upended, and price is now almost back to the important gap fill level of Friday's low of 6,456! It did not happen during the regular trading hours yesterday, but the overnight players pushed price above 6,456, and that will be one of the key levels for today's trade! The game plan is laid out below!
📊 In the profile pic and key levels, you can see how price is slightly above yesterday's high at 6,444, and has retreated from Friday's low. This range will be of the utmost importance for today! If the sellers can keep price out of Friday's range, and push price back below 6,444, then maybe the down move from yesterday can continue.
IF the buyers push price back into Friday's range, above 6,456, then look for a continued move the the VPOC at 6,470.50, then upper targets at 6,485 - 6,495. If the bears keep price below 6,456, and then push price below 6,444, this would open the door to the VERY KEY LEVEL of 6,428. There are multiple data points there: Bottom of the spike, the POC and VAH. Any loss of this level would open the door to the downside targets of 6,425 - 6,415. Stay fluid today!
Futures are currently trading at 6,447 at the time of this writing.
🧭 VPOC Update: As discussed, a new VPOC was added above at 6,470.50, so we now back one above and four below the current price.
Current VPOCs: (BOLD is above current price)
- 6,470.50
- 6,264.50
- 6,146.00
- 6,091.00
- 6,050.00
TARGETS AND KEY LEVELS TO WATCH:
/ES upside target is: 6,485 - 6,495
Key Levels: 6,456 Friday's Low then Prior High 6,444
downside target is: 6,.425- 6,415
/NQ upside target is: 23,570 - 23,595
Key Level: 23,398 Friday's Low
downside target is : 23,280 - 23,250
/RTY upside target is: 2,365 - 2,375
downside target is: 2,335 - 2,325
Economic Data : Light Day
Factory Orders @ 10:00 a.m. EST
JOLTS @ 10:00 a.m. EST
More Color By : Rich Rickus
Have a great day!
| 
