iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
3,033 Blog Posts

NASDAQ Heading into Maundy Thursday on Lows of Week

NASDAQ futures are heading into Thursday gap down after an overnight session featuring normal range and volume.  Price worked lower, down to a new low of week before stabilizing into two-way trade.  At 8:30am Initial/Continuing jobless claims data came out mixed.

Also on the economic docket today we have the preliminary April read of Confidence from the U. of Michigan at 10am, then the Baker Hughes rig count at 1pm.

Yesterday we formed a normal variation down.  Price opened gap down and buyers could not fill the overnight gap.  Instead we worked lower, slowly, eventually closing on the low-of-the-day.

Heading into today my primary expectation is for buyers to work into the overnight inventory and close the gap up to 5372.50.  From here buyers continue higher, up through 5382 before stalling around 5395.75 and two way trade ensues.

Hypo 2 stronger buyers work up to close the gap at 5402.75 before two way trade ensues.

Hypo 3 sellers press down through overnight low 5355.75 and push down to 5348 before two way trade ensues.

Levels:

Volume profiles, gaps, and measured moves:

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One comment

  1. TheBigRagu

    Watching and learning.

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