Daily Plan 02/27
Buyers failed to sustain Wednesday’s breakout and were liquidated yesterday after ending the OTFU and trading back into the balance it had just attempted to break out of. Though we bounced off the VPOC or at a crucial level within the balance, buyers still have work to do if they wish to cement yesterday’s low as a pivot low. As long as sellers now defend the single prints or the upper most shelves of the balance it just traded back into, they look to complete a full rotation back down towards the lows.
ES
Main focus for tomorrow is 6922 and 6932. Buyers failed utterly to continue the breakout so since we are back in balance, observing the upper most shelf of the balance as a recent pivot. These two levels will be the line in the sand for sellers tomorrow if there are any hopes of completing the rotation down towards lows. Above could reengage the breakout. Also watching 6904, a small shelf within the balance.
Above 6922 and 6932, target 6963. Continued strength above and target 6997 and 7011.
Below 6922 and 6932, target 6904 and 6877. Acceptance below and target 6833 - 35 followed by 6909.
NQ
Main focus for tomorrow is 25090 - 110 marking off yesterday’s VAH and halfback as well as the upper most shelf of the most recent balance. Above and looking for a back fill of the single prints. Buyers ideally see acceptance back above this or a swift move through it and acceptance above 25180 to reengage the breakout. Otherwise, likely to see a complete rotation of the balance and work towards yesterday’s VAL and shelf on composite 24920s and on continued strength, this week’s lows.
Above 25090 - 110, target 25180. Acceptance above and target 25260 and 25400 - 420.
Below 25090 - 110, target 24920. Acceptance below and target 24770 and 24670 - 690.
