iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
3,254 Blog Posts

Extreme behavior continues, here’s the Tuesday NASDAQ trading plan

NASDAQ futures are coming into Tuesday gap up after an overnight session featuring extreme volume on elevated range.  Price was balanced overnight, slowly working higher, before spiking up on the 8:30am economic data, the often immaterial consumer price index.

The other economic events today are a 4-week T-bill auction at 11:30am and a 30-year bond auction at 1pm.

Yesterday we printed a neutral day.  We came into the week gap up and after a 2-way auction sellers attempted to close the gap.  Their efforts failed ahead of last Friday’s range and we traversed the entire daily range, pushing us neutral.  Then two-way trade ensued, along the daily midpoint.

Neutral.

Heading into today my primary expectation is for a gap-and-go up, through overnight high 7202.50 to tag the measured move target at 7241.75 before two way trade ensues.

Hypo 2 sellers work into the overnight inventory and close the gap down to 7160.25 then continue lower, down through overnight low 7151.25 before two way trade ensues.

Hypo 3 stronger buyers sustain trade above 7241.75 triggering a trend up.  Open air.

Levels:

Volume profiles, gaps, and measured moves:

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One comment

  1. Mo cow

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    get some four hundo percentay

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