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Good Monday morning,
Apple Thursday night and the NFP (Non Farm Payrolls) released Friday morning have the buyers right back in the swing of things. The SPX cash level of 5125 puts the edge back to the bulls (close Friday was 5127) and with today's gap higher, we will be right around 5150 at the open, well above 5125. It's truly amazing how quickly sentiment can change from bullish to bearish or bearish back to bullish!
Futures are higher across the board with a true gap above Friday's range and overnight inventory is 100% net long. There are decent odds for a fade lower so watch the overnight high and one minute low's for target entries. Any gap and hold is very bullish! The profile pic shows the targets and key zones for today so keep an eye out! Nothing on the economic calendar today so it's all about the gap...will it hold or will it fade?! First downside target would be 5166.75 if sellers do show up this morning.
VPOC Update: We took out the upper VPOC Friday @ 514.75 and added a new VPOC below @ 5060. We now have only 2 above and 17 below.
TARGETS AND KEY LEVELS TO WATCH:
/ES upside target is: 5190 - 5200
Key Levels: 5160-5155
downside target is: 5130 - 5120
/NQ upside target is: 18.160 - 18,180
Key Level: 17,995 - 17,985
downside target is : 17,900 - 17,880
/RTY upside target is: 2060- 2065
downside target is: 2030 - 2025
Economic Data: NOTHING ON TAP TODAY!
More Color.......
/ES - Key demand at $5000- 5040 then at $5100 with Supply at $5170-5140
1. Holding above $5140 after break and retest above targeting long $5155
2. Sellers trapped from previous Demand at $5100 looking to plat long
targeting $5135. A break down below $5100 I would like to play short
SPY - Key Demand at $506 -507 the at $510 with Supply not until $514-515
1. Sellers trapped above $510 looking to play long targeting $513
2. I would only like to play short if price can break and hold $509 target $507
SPX Key Demand at $5100 with Supply flipping to Demand at $5120
1. Sellers trapped after a sell off holding above $5100 looking to play long
first targeting $5130 then $5145
2. I would only look to play short if price break/ holds below $5100
/NQ Key Demand at $17900-85 then at $17985 with Supply at$18115
1. A breakdown below $17890 I would like to play short targeting $17752
2. Sellers trapped above $18000 I would like to play long targeting $18030
QQQ Key Demand at $443-444 with Supply not until $437
1. I would only like to play short if price can break and retest below $432
2. A breakout above $434 after a pullback holding $434 i will look long
targeting $436 then $437 new HOD
TSLA - Key Demand at $182 (GAP UP) with supply at $185
1. Gap up play long after sellers are trapped at $182 targeting $184
2. A sell off below $181 leaves us more room to downside targeting $180
AAPL Key Demands at $170- 169 with Supply above at $183 then $185-187
1. Sellers trapped below weekend GAP down $183 looking to short. Sellers
above $177 after a break and retest looking to play long targeting $181
As ALWAYS, have your stops in place!!!
Have a great trading day!
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