December 9

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December 9 Pre-Bell Update

• Overnight Inventory is balanced. We are going to open within Friday’s range so gap rules don’t apply. Since we are going to open inside the prior day’s value area, I will be monitoring for responsive type of trades.

• VWAP is sitting at 6097 which adds confluence to the 6100 psychological level and to Friday’s Point of Control at 6098.25. ETH Halfback is also 6097.

December 9 Plan

On Friday we saw a rejection of Thursday’s spike; buyers kept us inside the prior day’s value area. After the first Initial Balance Range sellers kept us below the 6100 psychological level.

• Friday’s high (ATH) is poor which means that the up auction hasn’t ended yet. At the same time the low is also poor. Going into Monday’s session, if sellers can repair the poor low it will also mean the end of Daily One Time Framing Higher.

Bullish Scenarios:

• Longs above 6100 targeting 6115.

Bearish Scenarios:

• Shorts below 6095 targeting 6086 followed by the gap fill at 6068.25.