Daily Plan 06/26
Yet another balance day and now working with a three day balance. With the reaction we saw at the upper end of the balance and the continued effort from sellers to shift value lower, we expected this to come lower to some more important levels. We got just that tonight and executed beautifully up against them for a trade back to value. The question now is whether buyers can continue this move higher and reclaim the value established the prior three sessions for a rotation back towards highs. If not, sellers will likely accomplish their goal of shifting value lower or potentially even a breakdown.
ES
Main focus for tomorrow is 7410 - 16 marking off yesterday’s VAL as well as the lower end of the bulk of value of the three day composite. The ETH drifted lower towards the 7360 we have been waiting for and now trading 50 points higher. Must be cautious up against this until buyers reclaim this. Failure to do so and sellers look to shift value below it to end the week or get a larger leg lower to complete the rotation down to 7280s.
Above 7410 - 16, target 7445 then 7470 - 74. Continued strength above and target 7497 then 7520 - 28.
Below 7410 - 16, target 7358 - 66. Continued strength below and target 7283 - 88.
NQ
Main focus for tomorrow is 29640 marking off the lower most shelf of the three day composite. Working off the 29210s level now which was not too significant but timed up nicely with the big level on ES. Prior to the large shelf at 29640, also watching 29470 and the VAL 29550s for guidance down here. Buyers ideally reclaim these levels above for yet another rotation back towards the highs of the current balance but if they are unable to and sellers defend it, there aren’t any levels below that I love on NQ.
Above 29640, target 29730 - 750 and 29870 - 890. Continued strength above and target 30050 - 070.
Below 29640, target 29460 - 475. Acceptance below and target 29220. Continued strength below and target 28590 - 620.
Thank you!
Thank you, Rizzo! Cheers!