iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
2,955 Blog Posts

NASDAQ Begins Tuesday at Record High

NASDAQ futures are coming into Tuesday gap up after an overnight session featuring normal range and volume.  Price held the Monday range until about 6:30am, then it made new record highs.  As we approach the open, the market is sustaining the gains.  At 8:30am Housing Starts and Building Permits data was issued.

Also on the docket today we have Industrial Production at 9:15am and a 4-week T-bill auction at 11:30am.

Yesterday we printed a normal variation up.  There was a morning rally, then two way trade ensued.

Heading into today my primary expectation is for a short squeeze higher, up to 5722.75 before two way trade ensues.

Hypo 2 strong buyers sustain trade above 5722.75 setting up a trend day.

Hypo 3 sellers push into the overnight inventory and close the gap down to 5701 before two way trade ensues.

Levels:

Volume profiles, gaps, and measured moves:

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3 comments

  1. raul

    That gap fill and bounce was bae, my work here is done (hypo 3) what’s for lunch?

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  2. mbull

    Tremendous week. A great but simple strategy of trying to understand your levels, and trade within the context/bias you lay weekly in Exodus, just. keeps. working.

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