|
Good Friday morning!
Still not a single seller anywhere to be found on planet earth! The market broke out of the large balance area I mentioned yesterday and futures are higher this morning again! So it goes without saying (but I'll say it anyway...) the bulls remain firmly in control!
As you can see in the profile picture below, the all time highs are in the sights of the bulls again and it will all be about staying above and outside of yesterday's range. That key level is 5555. We just had some economic data released and futures popped to new overnight highs...5573... but are coming off a bit. Let's see if we even get back into prior day's range....again 5555.
At this point, unless the market sold off sharply and took out yesterdays lows @ 5530, then the buyers are still present and willing to put money to work. I say this because no matter how many times the market pulls back lately, buyer step back in and prop the market back up. It is what's called "buy the dip". If we were to sell off, then look for our downside targets of 5530-5525.
TSLA: Another good day yesterday and the stock is now trading above $200 per share pre market so it looks like the stock will get called away.
SNOW: Bought more stock yesterday @ $130.90 and the stock is now trading over $135 pre market. The $120 puts we sold for this Friday will expire worthless.
VPOC Update: No new VPOC's again yesterday so we still have 24 VPOC's below current price levels.
TARGETS AND KEY LEVELS TO WATCH:
/ES upside target is: 5565 - 5570
Key Level: 5555 Prior High
downside target is: 5530 - 5525
/NQ upside target is: 20,145 - 20,165
Key Level: 20,044- 20,036 POC & 1/2 Back
downside target is : 19,945 - 19,925
RTY upside target is: 2069 - 2073
downside target is: 2047 - 2044
Economic Data:
Personal Income and Outlays @ 8:30 AM EST
Chicago PMI @ 9:45 AM EST
Consumer Sentiment @ 10:00 AM EST
Baker Hughes Rig Count @ 1:00 PM EST
More Color.......
As ALWAYS, have your stops & targets in place and have a great weekend!!!
| 
