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Good Thursday morning,
Bulls are at it again, and we will be hitting the 29th new all-time high for 2025 once the opening bell rings today! Even though the government shut down, the market has historically shown little concern, and yesterday was further proof of that. Today, just keep it simple, unless certain key levels are taken out, which I lay out below, the bulls will remain in charge for the foreseeable future!
📊 In the profile pic and key levels below, futures are gapping to new all-time highs, and unless the sellers come in and take the price below the prior high at 6,769, then there is no chance for meaningful change. Even if price drops below the prior high, the POC at 6,765 and the top of the spike and single prints at 6,751.50 should act as support, and this would be normal for retesting key levels. A sharp, strong liquidation break below 6,751.50, with a close and value building lower, is the only way we could see meaningful change. Please remember that!
Futures are currently trading at 6,780 at the time of this writing.
🧭 VPOC Update: A new VPOC was added below price yesterday at 6,703, so we are now back to 9 below and none above! Again, VPOC's stacking below is very bullish!
Current VPOCs:
- 6,703.00
- 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: 6,800 - 6,810
Key Levels: 6,769 Prior High
downside target is: 6,760 - 6,750
/NQ upside target is: 25,275 - 25,300
Key Level: 25,143 Top of spike in Overnight trade
downside target is: 25,050 - 25,025
/RTY upside target is: 2,485 - 2,495
downside target is: 2,450 - 2,440
Economic Data: Busy Day Red & Green Star Events
Jobless Claims @ 8:30 AM ET
Factory Orders @ 10:00 AM ET
EIA Natural Gas Report @ 10:30 AM ET
Lorie Logan Speaks @ 10:30 AM ET
Treasury Buyback Announcement @ 11:00 AM ET
Fed Balance Sheet @ 4:30 PM ET
More Color By: Rich Rickus
- /ES - Key Demand $6749 Supply above at $6780
Bullish : Sellers trapped above $6745 looking to play a break and retest above $6750 long targeting $6788 then $6802
Bearish Buyers trapped below $6740 looking to play short after a break and retest below $6735 targeting $6720 a break down into $6695
- SPY Key demand at $666 - 667 with Supply above at $670
Bullish Sellers trapped above $666 looking to play a break and retest from $667 long targeting $668 then a breakout into high $670s new HOD
Bearish Buyers trapped below $666 after a break and retest below $665 targeting $663 then a breakdown into $662
- /NQ Key demand at $24975 with Supply above at $25150
Bullish Sellers trapped above $24975 looking to play a break and retest above $25000 long targeting $25115 then a breakout back into low $25200
Bearish Buyers trapped below $24950 looking to play short from below $24945 targeting $24875 then $24830
- QQQ Key Demand at $601 with Supply at $606
Bullish Sellers trapped above $601 looking to play a break and retest from $602 targeting $604 then a breakout into high $606
Bearish Buyers trapped below $601 looking to play a break and retest below $600 targeting $598 then $596
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NVDA - Key Demand at $183-184 with Supply above at $190
Bullish - Sellers trapped above $183 after a break and retest from $184 looking to play LONG targeting $186 then a breakout into $187s
Bearish - Buyers trapped below $183 after a break and retest from $182 to play short targeting $180 then breakdown into $179
Have a great day!
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