Daily Plan 03/19
Sellers keep the downtrend in tact and bring the daily back downwards. Tough for buyers to do much here looking at rolled over futures themselves other than to wait for a reclaim. SPX and NDX trading back down towards key levels and sweeping prior pivot lows. Do sellers step in and do we get an immediate breakdown of the multi month balance or do buyers have one more leg up in them.
ES
Main focus for tomorrow is 6689, yesterday’s spike base. Below and look for an immediate continuation lower. Note we made new lows on ESH and SPX at yesterday’s close. Target 6650 then roll gap 6636. Back into yesterday’s range and especially the spike, buyers have a chance to take control.
Above 6689, target 6715 - 20. Continued strength above and target 6737, 6750, and 6780.
Below 6689, target 6670 and 6650. Continued strength below and target 6636 and 6600.
NQ
Main focus for tomorrow is yesterday’s spike base 24710. Now significantly lower during ETH 24530s also the prior pivot low on NQH. Keeping an eye on this as more likely pivot for rest of the night/tomorrow. Roll gap takes us down towards 24390. Buyers only confident setup would be a reclaim of anything at this point.
Above 24530, target 24710. Continued strength above and target 24820s.
Below 24530, target 24460 and 24390. Continued strength below and target 24110.
