Daily Plan 06/10
Another big red day yesterday but unlike Friday, buyers stepped in and brought it back into the prior balance we continue to talk about. This is an example of what I mean when I say ‘on a daily/weekly’ basis in my plans. Sure we can slip below the level but we are now looking at a potential failed auction lower with the reclaim. We are now able to go into tomorrow to confirm/deny this and shift accordingly.
ES
Main focus for tomorrow is 7358 - 65 and 7394 - 7400. Buyers were able to close yesterday back within the prior balance but we did slip well past them before doing so. Buyers must hold on the shelf of the balance 7358 - 65 to prevent sellers from stepping in and establishing value lower. Above and buyers still need to get past 7394 - 7400 marking off the upper end of yesterday’s main distribution. Keep in mind that Monday’s low and single prints from yesterday are slightly above it. Acceptance back above this and we can see another rotation towards the upper end of the balance 7470 - 80s.
Above 7394 - 7400, target the single prints, 7419, single prints beyond that, then 7473 and 7488.
Below 7358 - 65, target 7327 and 7300. Acceptance below and target 7270. Continued strength below and target 7211 - 14 then 7180s.
NQ
Main focus for tomorrow is 28800 - 830 marking off the lower most shelf of the prior balance. Also a shelf from yesterday. This will be the buyers line in the sand for tomorrow. Though I may give them down to 28690, the main level must be reclaimed. Above and looking for yesterday’s poor structure to get cleaned up towards 29230 and 330s, a place sellers would like to defend to avoid a full rotation back up towards 29500 and 29700s.
Above 28800 - 830, target 29235 and 29335. Acceptance above and target 29480 - 500. Continued strength and target 29730 - 750.
Below 28800 - 830, target 28690. Acceptance below and target 28410. Continued strength below and target 28190 then 27900.
Thank you, Rizzo. Cheers!