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Good Tuesday morning,
Yesterday was a perfect example of "balanced" trade. Buyers and sellers were at an equilibrium, and the market went sideways with very low volume. This morning, we are also trading right in the middle of Monday's range, so this sets us up for a move either way once the bell rings. Let's keep it simple today: go long above key levels or short below. That's it.
📊 In the profile pic and key levels, futures are close to the prior day's half-back at 6,467. This is the first key level to watch. Next price to the upside is the POC at 6,469. If buyers keep price above these two levels, then look for further continuation to prior high at 6,475, then upper targets. If sellers push price below 6,467, then look for prior low at 6,457, then lower targets!
Futures are currently trading at 6,468 at the time of this writing.
🧭 VPOC Update: Again, no new VPOC's were added or taken out on Monday. We still have none above and five below the current price.
Current VPOCs:
- 6,367.50
- 6,264.50
- 6,146.00
- 6,091.00
- 6,050.00
TARGETS AND KEY LEVELS TO WATCH:
/ES upside target is: 6,480 - 6,485
Key Levels: 6,467 1/2 back then 6,469 POC
downside target is: 6,.455 - 6,450
/NQ upside target is: 23,875 - 23,885
Key Level: 23,775 POC then 23,771 1/2 back
downside target is : 23,675 - 23,650
/RTY upside target is: 2,310 - 2,315
downside target is: 2,285 - 2,275
Economic Data : LIGHT DAY
Housing Starts and Building Permits @ 8:30 a.m EST
More Color By : Rich Rickus
Have a great day!
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