April 23

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Buyers were able to migrate value back above the 5300 psychological level once we found support back inside last week’s range. Note that we have today’s swing low above last week’s low. With this move we are seeing the “inside day breakout failure”. As of the time of this writing we are trading well above Thursday’s high— in fact, we are trading near the 5400 psychological level so there are good odds of us seeing a gap to the upside tomorrow morning.

Value Area:

VAH 5326.75

POC 5314.50
VAL 5277.25

Bullish Scenarios:

• Longs above 5325 targeting 5413.

• Longs above 5413 targeting 5472. This would be a move back to the top of the “2-Day Balance”.

Bearish Scenarios:

• Shorts below 5296 targeting 5238.

• Shorts below 5238 targeting 5179.

Nasdaq:

• Longs above 18,331.00 targeting 18,745.00.

• Longs above 18,745.00 targeting 19,128.00.

• ⁃ Shorts below 18,331.00 targeting 18,023.00 followed by 17,681.00.