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Good Monday morning,
As the gladiators continue to battle in the famed Coliseum, or the much less dramatic trading screens as, we know it today-- the buyers have once again greatly overwhelmed the sellers, and continue to do so this morning!
📊 In the profile pic and key levels below, futures are higher again, and new all-time highs have been hit in the overnight session. Buyers will win the battle as long as price stays above the key levels for today:
• Half-back & VAH (Value Area High) at 6,594
• POC & VAL (Value Area Low) at 6,588
These levels will show us that buyers are still present—and to look for upper targets at 6,620 - 6,630. ONLY if sellers take it below 6,588, then 6,580, would we look for lower targets at 6,575 - 6,565.
Futures are currently trading at 6,605 at the time of this writing.
🧭 VPOC Update: No new VPOC's added or taken out on Friday, so we still have eight below the current price, with none above.
Current VPOCs: 8 BELOW!
- 6,539.50
- 6,516.75
- 6,480.00
- 6,450.00
- 6,264.50
- 6,146.00
- 6,091.00
- 6,050.00
TARGETS AND KEY LEVELS TO WATCH:
/ES upside target is: 6,620 - 6,630
Key Levels: 6,594 VAH & 1/2 Back
downside target is: 6,575- 6,565
/NQ upside target is: 24,250 - 24,260
Key Level: 24,140 VAH
downside target is : 24,060 - 24,050
/RTY upside target is: 2,420 - 2,425
downside target is: 2,390 - 2,385
Economic Data : Very Light Today
Empire State Manufacturing Index @ 8:30 a.m. EST
More Color By : Rich Rickus
1. ES - Key Demand $6580-6570 Supply above at $6658
Bullish : Sellers trapped above $6570 looking to play a break and retest above $6585 long targeting $6660 then $6675
Bearish Buyers trapped below $6550 looking to play short after a break and retest below $6545 targeting $6480 then a break down into $6410
2. SPY Key demand at $656 with Supply above at $658-659
Bullish Sellers trapped above $656 looking to play a break and retest from $657 long targeting $660 then a breakout into high $661
Bearish Buyers trapped below $656 after a break and retest below $655 targeting $653 then a breakdown into $652
3 /NQ Key demand at $24300 with Supply above at $24400
Bullish Sellers trapped above $24300 looking to play a break and retest above $24350 long targeting $24425 then a breakout back into low $24450
Bearish Buyers trapped below $23300 looking to play short from below $2375 targeting $23100
4. QQQ Key Demand at $584 with Supply at $587
Bullish Sellers trapped above $584 looking to play a break and retest from $585 targeting $587 then a breakout into high $588
Bearish Buyers trapped below $585 looking to play a break and retest below $584 targeting $582 then $581
Have a great day and a profitable week ahead!
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