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Good Tuesday morning,
A lower high, but still a win for the bulls. Value built to higher levels, and the POC (Point of Control) at 6,788.50 is the highest reading ever. This tells us that traders and investors are still willing to put money to work at ever-increasing prices. For now, we must respect the trend and strength of the markets, but be on the lookout for the proverbial rug pull. Because trust us, friends, it is coming! We just don't know exactly when.
📊 In the profile pic and key levels below, futures are modestly higher, and price is once again above two key levels: the POC at 6,788.50 and half-back at 6,782. These are the important levels for today. As long as the price remains above these levels, then the buyers remain in control, so look for upper targets. I know, same as yesterday, but that's the way it is! Any break below 6,788.50, then below 6,782, look for overnight low and lower targets.
Futures are currently trading at 6,792 at the time of this writing.
🧭 VPOC Update: No new VPOC's were added or taken out on Friday, so we still have 9 below and none above!
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: 6,810 - 6,815
Key Levels: 6,788.50 POC & 6,782 1/2 Back
downside target is: 6,770 - 6,760
/NQ upside target is: 25,320 - 25,340
Key Level: 25,196 POC
downside target is: 25,100 - 25,080
/RTY upside target is: 2,515- 2,525
downside target is: 2,490 - 2,485
Economic Data: Multiple Fed Speakers
Raphael Bostic @ 10:00 a.m. EST
Michelle Bowman @ 10:05 a.m. EST
Stephen Miran @ 10:30 a.m. EST
Neel Kashkari @ 11:30 a.m. EST
More Color By: Rich Rickus
Have a great day!
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