Good morning traders!
Overnight session has continued higher even breaking above the Weekly VAH noted below. This has opened the door to some scenarios I will be looking to play out. Each are explained inside the video with what to do if the trade does or doesn’t work. Most the profiles are in a interesting spot deciding if it’s time to explore new prices higher. For example Apple was a main name on watch that could not trade through the session lows. Sentiment was bullish from last week and with no events to change this it was due for a move higher. At lows we called for a move up to HOD while also calling for a short squeeze on Emini.
At the time of this post Emini is trading at 4197! 50 handle rally off the lows and as I said in the telegram, “shorts will be squeezed”.
Going into today I want to see this get’s legs higher for a potential short into the rally.
Levels covered in the video so make sure to tune in.
Three more days of no events other than FED speakers which I will not even put much focus on anyway. Rally has been organic and result of good data noted for nearly the last month now.
We can all agree by now that 90% of folks on Twitter have been wrong on the Macro side. This is not to call anyone out but Macro data print change depending on the current market conditions. In a time with high inflation the last thing you want is expansion. Data releases that show retraction (cooling economy) points to a earlier landing and even gives signs of a soft landing. At the end of the day on a intraday basis taking these releases as Bullish has proven to be correct.
Events
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Earnings
Value Areas
4095 - 4192 / POC 4177
3880 - 4048 / POC 3951
3823 - 3878 / POC 3862
