Welcome back everyone!
Once again, we've witnessed yet another solid trading session, where the indices descended below my mentioned short levels as discussed last night. Once the Emini and Nasdaq broke below the upper value range, a substantial sell-off ensued, with the Nasdaq reaching the short target and the Emini falling short once again.
Focusing on the Nasdaq, the 17716 short level remained a formidable resistance throughout the entire session, resulting in a sell-off down to the 17573 short target, yielding a gain of +143 handles on the downside. Interestingly, the short target was just above the day's low, sparking a rally that took the price right back up to the short target, completing a round trip.
Turning to the Emini, the 4959 short level also held its ground but not in the way I wanted it to. Support was found at the short level with no budge all session.
In the oil market, we observed no selling activity, price remained supported at the long level all session. This rally once again aligned with my expectations.
Gold saw a sharp rally right off the bat moving 10 handles to the upside but coming short of the target.
Shifting our focus to individual stocks, AMD, MSFT, META, and AMZN, all saw substantial sell-offs directly from the short levels, while TSLA and AAPL displayed continued strength, surpassing the long levels.
Overall, today's session proved to be exceptional, as we successfully navigated the market based on the volume profile structure discussed last night.
Now, let's dive into the analysis for the upcoming week!