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Good Thursday morning,
*IF YOU ARE NOT SIGNED UP, YOU ARE MISSING OUT!
SIMPLY GO TO THE "MY ACCOUNT" TAB AT MARKETEDGECAPITAL.COM
The key levels worked again like a charm. As we mentioned yesterday:
"If sellers take the price below 6,721, then look for lower targets and a repair of the poor low yesterday at 6701.75."
Not only were lower targets hit, but we are now close to taking out the VPOC at 6,661.25. The double top and poor high on Monday and Tuesday were clear signs that the buyers were no longer present, and losing the key levels we mentioned also showed us that sellers were now stepping up their game. The call two days ago to protect profits and look for short opportunities was spot on! The first line written on Monday morning was:
"After hitting all-time highs for the 27th time in 2025, it is time to start getting defensive in your positions."
📊 In the profile pic and key levels, futures are sharply lower with a true gap below the prior day's range. Yesterday's low is the first key level for today at 6,678. As long as the price stays below this level, then the edge remains with the bears. Lower targets at 6,625 - 6,600 are in play.
That being said, with overnight inventory net short, there is a good possibility for a fade higher at the opening bell to balance out the skewed inventory first. Look for a "look below and fail" at the overnight low, currently sitting at 6,653.50, or a move over the first one-minute high. Now, if buyers do step in and continue to take the price back higher, look for a potential move back to and above 6,678, then the POC at 6,692 and upper targets would be in play.
Futures are currently trading at 6,657 at the time of this writing.
🧭 VPOC Update: No new VPOC's were added or taken out on Wednesday, so we still have 9 below the current price with none above; however, 6,661.25 is squarely in the sights of the bears today!
Current VPOCs: 9 BELOW!
- 6,661.25
- 6,595.75
- 6,571.75
- 6,509.25
- 6,506.25
- 6,450.50
- 6,396.50
- 6,373.25
- 6,310.00
TARGETS AND KEY LEVELS TO WATCH:
/ES upside target is: 6,690 - 6,710
Key Levels: 6,678 Prior Low
downside target is: 6,625 - 6,600
/NQ upside target is: 24,700 - 24,725
Key Level: 24,627 Prior Low
downside target is: 24,425 - 24,400
/RTY upside target is: 2,450 - 2,460
downside target is: 2,410 - 2,400
Economic Data: Busy Day
Durable Goods Orders @ 8:30 a.m. EST
GDP @ 8:30 a.m. EST
International Trade in Goods @ 8:30 a.m. EST
Jobless Claims @ 8:30 a.m. EST
Existing Home Sales @ 10:00 a.m. EST
Natural Gas Inventories @ 10:30 a.m. EST
More Color By : Rich Rickus
1. /ES - Key Demand $6625-30 Supply above at $6710-6700
Bullish : Sellers trapped above $6700 looking to play a break and retest above $6715 long targeting $6730 then $6750
Bearish Buyers trapped below $6620 looking to play short after a break and retest below $6610,, targeting $6580 a break down into $6570’s
2. SPY Key demand at $658-656 with Supply above at $662-663
Bullish Sellers trapped above $662 looking to play a break and retest from $663 long targeting $665 then a breakout into high $666
Bearish Buyers trapped below $657 after a break and retest below $656, targeting $655, then a breakdown into $653
3./NQ Key demand at $24580-24600 with Supply above at $24800-24825
Bullish Sellers trapped above $24830 looking to play a break and retest above $24850 long targeting $24925 then a breakout back into low $25000
Bearish Buyers trapped below $24600 looking to play short from below $24580 targeting $24500 then $24450
4. QQQ Key Demand at $597-596 with Supply at $692-593
Bullish Sellers trapped above $596 looking to play a break and retest from $597 targeting $599 then a breakout into high $601
Bearish Buyers trapped below $593 looking to play a break and retest below $592 targeting $591 then $590
Have a great day!
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