December 18

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December 18 Pre-Bell Update

• Overnight Inventory is long. Buyers were able to trade above yesterday’s high but stalled at the 6145 BZ level. Also of the time of this writing we are trading back inside of the prior day’s range so gap rules don’t apply.

• VWAP is sitting at 6135 which is just above VAH. This could be an area where I will monitor for potential responsive shorts since it’s also near yesterday’s high.

December 18 Plan

Even though this morning’s gap got filled there was literally no interest inside the prior day’s range which means that value migrated back into Friday’s lower distribution. Even though sellers were able to accomplish this, buyers were able to keep us above the bottom of the Balance Zone at 6115.

• Notice that we are now trading in a “12-Day Balance” mostly between the 6115 and the 6174 BZ levels. For now it’s all about monitoring for either continuation of balance or for a breakout.

Bullish Scenarios:

• Longs above 6130 targeting 6145 followed by 6174.

Bearish Scenarios:

• Shorts below 6115 targeting 6100 followed by 6086.

• Shorts below 6086 targeting 6057.

Nasdaq:

• Inside Day Rules