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Good Monday morning!
Has anybody else ever experienced what the picture above represents?!?! Yeah me too! LOL
It's really crazy when you think about it....you hear such amazing stories about massive gains in certain stocks and all the money "other people" are making, but why can't that be you?!?! You invest in what you consider "good companies" but why are they complete dogs and other stocks seem to go straight up without you?!?! It's one of the most frustrating things to deal with when you are involved in the stock market but unfortunately that is a sad reality when it comes to trading!
Now I know some of you have great stocks with great trade location and fantastic gains, so congratulations!!! But for the others that continue to feel left out, there is hope. You must realize that for all the wonderful winning stories you hear about from your friends or on the internet or on the news, they NEVER tell you about the losers so don't get too upset!
Anyway back to business, and again I'll keep it short and sweet! The profile pic below tells us the story once again...the game to the upside continues. Buyers are relentlessly chasing the Mag 7 and AI names and that has not changed.
As long as we stay above 5088, the bulls remain in control. That area is the single print low from Thursday and the Over Night low from last night. Anything that stays above 5100 is even more bullish! And if we take out 1/2 back from Friday, which is around 5108, then target all time highs around 5123 then target 5130.
The only way things would change would be if sellers came in and took out Friday's low and the O/N low, and then we would be targeting 5060...not a high probability event by the way...only a 5% chance of happening!
There were not any new VPOC's added above or below so still have 17 untested points of control below current price. A record number!
TARGETS AND KEY LEVELS TO WATCH:
/ES upside target is: 5125 - 5135
downside target is: 5105- 5095
/NQ upside target is: 18,175 - 18,195
downside target is : 18,045 - 18,025
/RTY upside target is: 2034 - 2036
downside target is: 2021 - 2019
Economic Data: Very Light Today!
New Home Sales @ 10:00 AM EST
Dallas Fed Manufacturing Survey @ 10:30 AM EST
More Color.......
/ES - Consolidating inside Key Demand at $5090-5101 with Supply above at $5120- 30
- I would like to play long after sellers are trapped above $5080 after breakout /
pullbacks once it bounces or finds support
- I only want to look to play long if price falls and hold below $5075
SPY - Consolidating inside Demand at $506-508 with Supply above at $509-511
- I would only like to play short below $506 for quick scalps.
- Demand below that is at $502-503 with trendline below that on 4h chart
- Ideally I want to play a break and retest long $506 long targeting $508
SPX - Move to the downside isn't until price can break and hold below $5078
- Consolidating inside Demand at $5080-90 with Supply above at $5112-5100
/NQ - In a balanced range prior to pre market where it found support
- Key demand below at $17858 - 17900 with Supply above at $18145- 18090
QQQ - Key Demand at $433-435 with Supply above at $439-440
- I would only like to play short from a break and retest from Supply or if price can
break and fall below and hold $433 targeting $431
- Personally, I would like to play long from pre market lod at $435 or Demand
targeting $437 first then $438.35.
AMD - Key Demand zone at $171 from prior GAP up with Supply at $184-182
AAPL - Key Demand zone at $180 LOD with Supply at $183 after breaking downtrend
TSLA - Bounce from Key Demand at $189-191 looking to play long
Have a great day!
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