iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
3,443 Blog Posts

NASDAQ up a quick +60 into the first Tuesday trading day of 2019, here is the plan

NASDAQ futures are coming into Tuesday gap up after an overnight session featuring extreme range and volume.  Price worked higher overnight, trading well up into the 12/19 range.  As we approach cash open, buyers continue to explore higher prices.

On the economic calendar today we have a 3-year note auction at 1pm followed by consumer credit at 3pm.  Also be aware that President Trump is scheduled to give a speech on immigration and border security at 9pm.

Yesterday we printed a double distribution trend up.  The day began with a small gap up and two way auction that resolved the overnight gap.  Then, shortly after setting initial balance the market drove higher and began to trend up through the 12/19 liquidation before settling into a flag for the rest of the afternoon.

Heading into today my primary expectation is for buyers to gap-and-go higher, tagging the 12/19 naked VPOC at 6582.25 before two way trade ensues.

Hypo 2 stronger buyers carry price up to 6666 before two way trade ensues.

Hypo 3 sellers work into the overnight inventory, closing the overnight gap down at 6494.75 then continuing lower, down through overnight low 6491 before two way trade ensues.

Levels:

Volume profiles, gaps, and measured moves:

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2 comments

  1. Phileo99

    whoah…. Hypo1 turned into Hypo3

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