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Good Monday morning!
Nothing but clear sunny skies ahead for the bulls! Buyers are still firmly in control and as confirmation, our upper targets were hit Friday and even surpassed, especially in the NASDAQ! The continued strength in the markets is truly impressive. Money continues to pour into certain names like there is no end in sight, and as we have been saying for quite a while now, do not fight this tape. That being said, this is without a doubt one of the most hated bull markets that I can remember.
Futures are testing Friday's high and are well off of overnight lows so the buyers are right back into their operations this morning. Please pay close attention to the key levels and the profile pic below. Any price action above the POC and overnight lows keeps the bulls in strong control!
Upside target level is 5635-5645 and then if that gets taken out 5651.75 then 5677.50. Not very busy on the Economic Calendar today so it will all be about holding those key levels mentioned.
SNOW: Holding for now.
VPOC Update: 24 VPOC's below current price levels.
TARGETS AND KEY LEVELS TO WATCH:
/ES upside target is: 5635 - 5645
Key Level: 5619 POC & 1/2 Back then 5610.75
downside target is: 5610 - 5600
/NQ upside target is: 20,700 - 20,720
Key Level: 20,579 - 20,575 Overnight Low and Single Prints
downside target is : 20,525 - 20,500
RTY upside target is: 2062 - 2064
downside target is: 2029 - 2026
Economic Data: VERY LIGHT TODAY
Consumer Credit @ 3:00 PM EST
More Color.......
/ES - Key Demand at $5605 then at $5585 with Supply above at $5626 HOD
1. Sellers trapped above $5605 looking to play long targeting $5620
2. Buyers trapped below $5580 looking to play short targeting new LOD
SPY - Demand $553 pre market then below that at $551 with Supply at $555
1. A breakdown below $551 and holding after a pullback I will look to play short targeting new LOD
1. Sellers trapped above $552 I will look to play long off a break and retest from $554 then targeting $555
SPX Key Demand at $5550-5555 with Supply above at $5570 HOD
1. A breakdown below $5540 and holding below after retest I will look to play short targeting NEW LOD
2. A bounce above $5550 I will look to play long targeting $5565 then new HOD
/NQ Demand at $20600-10 with Supply above at $20640
1. Sellers trapped above 20600 looking to play long targeting $20630 then HOD
2. I would only be interested short iif buyers are trapped below $20600 off a break and retest targeting $20580
QQQ Key Demand at $493 then below at $491 with Supply above at $497
1. Sellers trapped above $491 looking to play long off a break and retest
targeting $494 then 495
2. Buyers trapped below $490 playing short after a break and retest
targeting new LOD after pullback flips demand into supply
AMD Key demand with GAP up over the weekend at $171-172 with Supply at $175
1. Looking to play a Gap and GO where price pullback above $172 and
bounces looking to play long targeting $174 then new HOD
2. I would only be interested if price fell and holds below $171 target $168
TSLA Key Demand at $244 then pre market at $247 with Supply above at $253
1. Sellers trapped above $246 playing a break and retest long targeting $250
2. Buyers trapped below $250 after a break and retest looking to play short targeting $248 then $246
Have a great day!
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