NASDAQ futures are coming into Friday flat after an overnight session featuring normal range and volume. Price held range. Extended trade was calm.
Economic calendar’s empty.
Yesterday we printed a bloody normal day. It was so boring. No range extension. An impulsive wave of selling hit the tape early, formed a wide initial balance, and buyers spent the rest of the day slowly reclaiming the losses.
Heading into today my primary expectation is for a move up through overnight high 5895.50. This sets up a test of all-time highs, currently printed at 5903. We break through then two-way trade ensues.
Hypo 2 stronger buyers, so strong that they drive price up to 5934 before two way trade ensues.
Hypo 3 sellers, working through overnight low 5869. Buyers down near 5863 then two way trade.
Last Sunday’s Exodus Strategy Session on point so far:
Levels:
Volume profiles, gaps, and measured moves:
My expectation is for a normal opening range and then complete capitulation of FAANGS driving Nasdaq into the dust…