February 13

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February 13 Pre-Bell Update

• Overnight Inventory is balanced but leaning more towards the short side. We are currently trading right around yesterday’s high. We are trading slightly above Value Area High so I will be monitoring for initiative buyers who can then get us through the 6086 BZ level.

• VWAP is sitting at 6075 which adds confluence to the 6072 BZ level and to the Point of Control at 6072.50.

February 13 Plan

Today’s session opened on a large gap below yesterday’s range but the lack of interest below the open followed by the support near Friday’s low triggered the gap fill followed by buyers keeping us inside of the prior day’s range. The session ended with a poor high which could mean that the up auction hasn’t ended yet. For buyers it’s now all about getting back above the 6086 BZ level. We have two more days before the week is open; the main goal should be to trade above last week’s low in order to end Weekly One Time Farming Lower.

Bullish Scenarios:

• Longs above 6072 or above 6086 targeting 6115.

Bearish Scenarios:

• Shorts below 6057 targeting 6028.

• Shorts below 6028 targeting 5998.

Nasdaq:

• Longs above 21,833.00 targeting 22,046.00.

• Shorts below 21,725.00 targeting 21,488.00.