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Good Friday morning,
The bulls are still at it as S&P futures are hitting all-time highs once again in the overnight session. You can see the new high in the profile pic below. One factor supporting futures is Warren Buffett's Berkshire Hathaway has invested over $1.5 Billion into UNH, a DOW component, and that sent prices higher! Also, buyers held firm as value built overlapping to higher, indicating they continue to put capital to work.
📊 In the profile pic and key levels, futures are close to the prior day's high at 6,496 -- this is the first important key level for today! If price opens and stays above this level, then look for prices taking out the overnight all-time high at 6,508.75, then upper targets at 6,525 - 6,535. Now if sellers take price below 6,496, then look for a retracement to the POC and overnight low at 6,485. Any loss of this level opens the door to our lower targets at 6,470 - 6,460.
Futures are currently trading at 6,497 at the time of this writing.
🧭 VPOC Update: Again, no new VPOC's were added or taken out yesterday. We still have none above and five below the current price.
Current VPOCs:
- 6,367.50
- 6,264.50
- 6,146.00
- 6,091.00
- 6,050.00
TARGETS AND KEY LEVELS TO WATCH:
/ES upside target is: 6,525 - 6,535
Key Levels: 6,496 Prior High then 6,485 POC
downside target is: 6,.470 - 6,460
/NQ upside target is: 24,025 - 24,050
Key Level: 23,910 POC
downside target is : 23,775 - 23,750
/RTY upside target is: 2,335 - 2,345
downside target is: 2,290 - 2,280
Economic Data : BUSY DAY
Retail Sales @ 8:30 a.m EST
Empire State Mfg @ 8:30 a.m EST
Import & Export Prices @ 8:30 a.m EST
Industrial Production @ 9:15 a.m. EST
Business Inventories @ 10:00 a.m EST
Consumer Sentiment @ 10:00 a.m EST
Baker Huhges Rig Count @ 1:00 p.m. EST
More Color By : Rich Rickus
See you next week!
Have a great day and an awesome weekend!
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