|
Good Friday morning,
Another new all time high was hit yesterday, so the current bullish trend continues. Nothing but sunny, clear skies ahead for the buyers. Today will be pretty simple as the key levels are basically jumping out at us so please check them out.
📊 In the profile pic and key levels below, you can see how the overnight low went right to the POC (Point of Control) at 6401.50, and it is also the VAL (Value Area Low). This level is crucial! As long as price stays above 6,401.50, then the buyers remain in charge. Upper targets are 6,425 - 6,435, then possibly 6,450 - 6,460. Only a break below that level, along with a move below yesterday's poor low at 6,396.25, would then most likely send prices lower. Lower targets are 6,380 - 6,370.
Futures are currently trading at 6,407 at the time of this writing.
🧭 VPOC Update: Another new VPOC was added below at 6,389.50.
We now have six VPOC's all below current price and currently, there are none above.
Current VPOCs:
- 6,389.50
- 6,336.00
- 6,283.50
- 6,146.00
- 6,091.00
- 6,050.00
TARGETS AND KEY LEVELS TO WATCH:
/ES upside target is: 6,425 - 6,435
Key Levels: 6,401.50 POC
downside target is: 6,380 - 6,370
/NQ upside target is: 23,470 - 23,480
Key Level: 23,390 and 23,361 1/2 Back
downside target is : 23,280 - 23,270
/RTY upside target is: 2,280 - 2,290
downside target is: 2,255 - 2,245
Economic Data : Red Star Event
Durable Good Orders @ 8:30 AM ET
More Color By : Rich Rickus
1. /ES - Key Demand $6375- $6360 Supply above at $6430
Bullish : Sellers trapped above $6360 looking to play a break and retest above $6370 long targeting $6405 then $6438
Bearish Buyers trapped below 6360 looking to play short after a break and retest below $6360 targeting $6290 then a break down into $6278
2. SPY Key demand at $630-631 with Supply above at $636-637
Bullish Sellers trapped above $631 looking to play a break and retest from $632 long targeting $634 then a breakout into high $636
Bearish Buyers trapped below $631 after a break and retest below $630 targeting $628 then a breakdown into $627
3. /NQ Key demand at $23100 with Supply above at $23150
Bullish Sellers trapped above $23225 looking to play a break and retest above $23250 long targeting $23400 then a breakout back into low $23500’s
Bearish Buyers trapped below $23100 looking to play short from below $23100 targeting $22800
4. QQQ Key Demand at $560 with Supply at $563 -564
Bullish Sellers trapped above $560 looking to play a break and retest from $561 targeting $563 then a breakout into high $564s
Bearish Buyers trapped below $559 looking to play a break and retest below targeting $557 then $556
Have a great day and an amazing weekend!
| 
