I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
4,121 Blog Posts

Salvaging The Week

Nasdaq bulls were knocked around well this week by sellers who took advantage of the thin market profile left behind after the Fed back on 3/18. After sliding down through that region they used their momentum to overshoot the reaction zone and close the 3/13 gap and push through most of its range.

Futures were flat heading into the 8:30am GDP and Personal Consumption data. Also on the agenda today is the U of M Confidence data at 10am, Baker Hughes Rig Count at 1pm, and a sneaky 3:45pm Yellen speaking engagement on Monetary Policy. The initial reaction after the GDP data was selling.

Heading into today, my primary expectation is for buyer to attempt a continuation of yesterday’s rebound. If they can push above yesterday’s session high 4331 I will look for an accelerated move up to the NVPOC at 4350.75.

Hypo 2 is sellers push us below 4300 early on and sustain trade below it to set up a move toward overnight low 4297.25 then a continued exploration lower below Thursday’s low 4271.75. If responsive buyers are not found here, then it opens the door for a push down to 4250.

Levels are highlighted below:


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  1. Billy Cutting

    re your paranoia post – my apologies..wasn’t my intention, was just curious about your risk appetite..great trade in SAVE, godspeed

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    • Raul3

      It is all good. To actually think evil predatory robots are out for me would be a heinous act of paranoia.

      thanks, btw, and HAGW

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