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Good Friday morning,
Can the bulls pick themselves up off the mat after being walloped by the bears over the past two days? Will buyers have the energy and optimism to get back in the fight? That is the question for the near term, and so far this morning, the answer seems to be a resounding yes!
📊 In the profile pic and key levels, futures have rebounded off a pullback yesterday, which basically hit the Fed day low last week at 6,611, and are now gapping up over yesterday's high at 6,675, and filled the gap over Wednesday's low at 6,678. These are the first key levels for today. If the buyers can keep the price above 6,678, then the new VPOC at 6,692 would be the next potential stop, and then upper targets! If sellers can take the price back below 6,678, then 6,675, the POC at 6,660.00, and then the lower targets would be in play.
Futures are currently trading at 6,682 at the time of this writing.
🧭 VPOC Update: Finally, the first VPOC below at 6,661.25 was taken out, and a new VPOC was added above at 6,692, so we now have 8 below the current price with 1 above!
Current VPOCs: 1 Above and 8 Below!
- 6,692.00 (BOLD is above current price)
- 6,595.75
- 6,571.75
- 6,509.25
- 6,506.25
- 6,450.50
- 6,396.50
- 6,373.25
- 6,310.00
TARGETS AND KEY LEVELS TO WATCH:
/ES upside target is: 6,715 - 6,725
Key Levels: 6,678 Prior Low and 6,675 Prior High
downside target is: 6,650 - 6,640
/NQ upside target is: 24,850 - 24,875
Key Level: 24,697 Prior High
downside target is: 24,575 - 24,550
/RTY upside target is: 2,460 - 2,470
downside target is: 2,415 - 2,405
Economic Data:
Personal Income and Outlays @ 8:30 a.m. EST
Consumer Sentiment @ 10:00 a.m. EST
Baker Hughes Rig Count @ 1:00 p.m. EST
More Color By : Rich Rickus
- /ES - Key Demand $6650-45 Supply above at $6710 and $6780-85
Bullish : Sellers trapped above $6700 looking to play a break and retest above $6710 long targeting $6730 then $6750
Bearish Buyers trapped below $6640 looking to play short after a break and retest below $6634 targeting $6622 a break down into $6575
- SPY Key demand at $656-657 with Supply above at $661-660
Bullish Sellers trapped above $660 looking to play a break and retest from $661 long targeting $663 then a breakout into high $664
Bearish Buyers trapped below $657 after a break and retest below $656 targeting $655 then a breakdown into $653
- /NQ Key demand at $24560 with Supply above at $24800
Bullish Sellers trapped above $24830 looking to play a break and retest above $24850 long targeting $24925 then a breakout back into low $25000
Bearish Buyers trapped below $24600 looking to play short from below $24580 targeting $24500 then $24450
- QQQ Key Demand at $597-596 with Supply at $692-593
Bullish Sellers trapped above $596 looking to play a break and retest from $597 targeting $599 then a breakout into high $601
Bearish Buyers trapped below $593 looking to play a break and retest below $592 targeting $591 then $590
Have a great day and an excellent weekend!
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