Daily Plan 06/09

An inside day after Friday’s massive down day. Tonight’s ETH already getting the look below and fail. NQ back near RTH highs and ES relatively weak and in the middle. With the RTH likely opening up here, the main focus will likely be on yesterday’s inside day high. Recall yesterday’s plan and weekly video. Yesterday’s RTH highs came in where we expected them to. Since these are higher timeframe levels with smaller levels and reference points just above yesterday’s highs, let’s be cautious on any moves that fail back into the range.

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ES

Main focus for tomorrow is 7430 marking off the VAL from the last two sessions. We also have an inside day which will also be important to observe for any follow through or fade on a lack there of. I am choosing to focus on 7430 primarily due to where we stalled out yesterday up against the 7470s. We discussed the importance of this level yesterday and in the weekly outlook. Above and looking for another test of those highs and possibly 7488 and 7504 but we must ensure this gets followed through. Below and looking for a break of yesterday’s lows and down towards 7358 - 65. Already looked below yesterday’s RTH low and failed for now during ETH so the level is now weaker.

Above 7430, target 7457, 7462, then 7477. Acceptance above and target 7488 then 7504. Continued strength above and target 7540 - 43.

Below 7430, target 7404 then 7358 - 65. Continued strength below and target 7327 then 7300.

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NQ

Main focus for tomorrow is yesterday’s inside day high 29740s. Also marks off the upper most shelf of the balance and we also have the prior ATH/balance high 29780s along with the lower end of Friday’s upper distribution there. A must defend for sellers to avoid a potential move/retest back up towards the smaller multi day balance above us. Below or failures back below and looking for a rotation down through yesterday’s range and potentially a move down towards the lower most shelf of the balance near Friday’s lows.

Above 29740s and 29780s, target 29880 - 895. Continued strength above and target 30055 then 30100 - 120.

Below 29740s, target 29480 - 500 then 29330. Continued strength below and target 29165 then 28850 - 860.

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