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Good Monday morning!
We hope everyone had a great weekend.
Friday was another impressive hold by the bulls and we notched new all time highs in the DOW and SPX. The buyers who stepped in Wednesday now have some company as more buyers came in and joined them Friday at these elevated prices. As long as we stay above 4905-4910, then they have nothing to worry about as the current bull trend continues.
I am keeping it short and sweet today...not much on the economic calendar today and things will pick up during the week, either ripping higher or breaking lower as we have lots of large cap tech earnings MSFT, AAPL, GOOGL, AMZN, etc and a FED meeting on Wednesday!! Stay frosty!
The profile pic below really sums it all up. I have marked off some very important levels and it will be very obvious where and when things could change! Otherwise current trend remains intact.
Futures are mixed this morning and we are inside of Friday's range...take out a quarter flip it for today! There is no edge for either side this morning and this means status quo.
By the way, Friday we took out that lonely VPOC above (as it lasted an entire one day) and we still sit with 16 untested points of control below us.
/ES upside target is: 4940-45
downside target is: 4895-90
/NQ upside target is: 17,600-625
downside target is: 17,450-425
/RTY upside target is: 2011-14
downside target is: 1978-75
Economic Data Today: Very Light Today
Dallas Fed Manufacturing Survey @ 10:30 AM EST
More Color.......
/ES - Consolidating at Key Supply inside $4920-4940 with Demand below at $4870-90
- As long as price stays above $4815 I want to play long at Key Demand on break
and retest or pullback on breakouts
SPY - Key Demand at $482-483 then at $485 -486 with Supply at $490-488
- As long as price remind above $482 I want to look to play long
- If price falls below $483 I will look to play short on a break and retest after price
can hold targeting $480 first then $479
SPX - Key Demand and Gap Up from $4870 with Supply at $4890 - 4910
- Looking for sellers to become trapped at Demand with a break and retest
- If Bulls hold and defend $4890 after a breakout and pullback I will look to play
long targeting a new HOD $4912
/NQ - Key Demand at $17405 -17440 with Supply at $17800-17750
- Price must remain and hold below $17400 in order for me to play short
QQQ - Key Demand at $420-422 with Supply at $428-430
- Sellers trapped at the open looking to play long on a break and retest $422.40
Also watching …
AMD Key Demand between $170-172 and at $174-175 looking to play long off break
and retest after sellers become trapped. I can only play short if price holds below $169
TSLA Key Supply at $190 and $195 (look to play short on any failed rallies )
AAPL Consolidating inside Demand at $192
Have a wonderful day!
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