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Good Monday morning,
Still not a single seller on planet Earth as futures are up again this morning after hitting new all-time highs again on Friday. For now, things are status quo, but we must stay alert for a meaningful change. Meaningful change will occur with liquidation and value building lower. When that actually comes, we are not sure—but for now, we have a game plan for the upcoming day.
📊 In the profile pic and key levels below, price is trading near half-back from Friday's range, as futures have been selling off from overnight highs, which is very close to Friday's high. The first key level for today will be Friday's half-back at 6338.50. Any price action that stays above this level gives the edge to the buyers, and our upper targets would be in play at 6,360 - 6,370. Below that level the next target will be the POC at 6,335, and the overnight low at 6,330, which is our downside target area at 6,330 - 6,320. Any loss of these price points would show further liquidation, and our next downside targets will be in play at 6,310 - 6,290
Futures are currently trading at 6,341 at the time of this writing.
🧭 VPOC Update: No new VPOC's added or taken out on Friday. We still have have four below current price and none above.
Current VPOCs:
- 6,283.50
- 6,146.00
- 6,091.00
- 6,050.00
TARGETS AND KEY LEVELS TO WATCH:
/ES upside target is: 6,370 - 6,380
Key Levels: 6,335 POC
downside target is: 6,330 - 6,320 then 6,310 - 6,290
/NQ upside target is: 23,350 - 23,375
Key Level: 23,239.75 Prior Day 1/2 back then 23,232.50 VAH
downside target is : 23,175 - 23,150
/RTY upside target is: 2,280 - 2,290
downside target is: 2,250 - 2,240
Economic Data : Very Light
Leading Indicators @ 10:00 AM EST
More Color By : Rich Rickus
Have a great day!
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