February 11
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February 11 Pre-Bell Update
Overnight Inventory is 100% short. We are trading below/outside yesterday’s range so gap rules apply. The rule tells us to “go with the gap” if it doesn’t get filled. A sign of stronger sellers is preventing the gap from getting filled.
We have the Overnight Low right at the 6057 BZ level. VWAP is sitting at 6070 which adds confluence to the 6072 BZ level.
For buyers it’s all about filling the gap and finding support above VAL at 6073 in order to trigger the “inside day breakout failure”.