April 24

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April 24 Pre-Bell Update

• Overnight Inventory is short. Even though we traded below yesterday’s low during the ETH session, for Daily One Time Framing to come to an end it must be done during the RTH session.

• We are currently trading right around the 5400 psychological level— no gap rules since we are trading inside of yesterday’s range.

• VWAP is sitting at 5389 which adds confluence to the 5383 BZ level and to yesterday’s low.

• For buyers it’s all about finding support above the 5413 BZ level.

April 24 Plan

Today’s gap up gave us the “2-Day Balance breakout failure” which resulted in the move back to the top of the “2-Day Balance” near the 5500 psychological level. Even though the initial rally stalled we did see support exactly at the 5383 BZ level and around the 5413 BZ level.

• We have a Low Volume Node within today’s profile at 5444 which adds confluence to the 5442 BZ level. I’m going to be monitoring this area to see if buyers can defend it and take us back to 5472+.

• We now have two days of Daily One Time Framing. Giving us continuation of this is the main goal for buyers going into tomorrow’s session. If it ends, I would look for the gap below at 5339.25 to get filled.

Bullish Scenarios:

• Longs above 5442 targeting 5472.

• Careful longs above 5413.

• Longs above 5472 targeting 5530.

Bearish Scenarios:

• Shorts below 5383 targeting 5325.

Nasdaq:

• Longs above 18,915.00 targeting 19,128.00.

• Longs above 19,128.00 targeting 19,470.00.

• Shorts below 18,745.00 targeting 18,331.00.