February 28
Discord access link: https://discord.gg/UPbu6PZFDp
Sellers remain firmly in control as we saw a decisive selloff today, with the gap at 5909.75 finally getting filled. Price action continued downward, trading all the way to the 5881 BZ level. This selloff leaves behind a set of single prints near the 5910 BZ level and another set between 5919.75 and 5931.50.
The most bearish scenario for tomorrow would be to see acceptance within or below these single prints, as this would validate today’s selling pressure below the 5940 BZ level and suggest further downside potential.
Conversely, the first sign of strength from buyers would be a move above 5931.50, as it would indicate a rejection of today’s single prints and the potential to target the 5940 BZ level. However, for buyers to gain any real control, they would need to reclaim the 5940 level and hold above it, which currently seems unlikely given the strength of today’s selloff.
I will be paying close attention to the 5910 BZ level at the open. If we open below this level and fail to reclaim it, I will favor shorts targeting the 5881 BZ level. If sellers accelerate below 5881, the next downside targets would be 5823 and potentially 5764.
On the other hand, if we open above 5910 and buyers can sustain momentum above 5931.50, I will consider responsive longs targeting 5940. Today’s profile suggests continuation lower, but I will remain flexible and let the market confirm the setups before committing to any trades.
Value Area:
VAH 5990.75
POC 5970.25
VAL 5914.00
Bullish Scenarios:
Longs above 5931.50 targeting 5940.
Longs above 5940 targeting 5968.
Longs above 5968 targeting 5998.
Bearish Scenarios:
Shorts below 5910 targeting 5881.
Shorts below 5881 targeting 5823.
Shorts below 5823 targeting 5764.
Nasdaq:
Shorts below 20,900.00 or below 20,585.00 targeting 20,372.00 followed by 20,200.00.
Shorts below 20,200.00 targeting 20,027.00 followed by 19,782.00.
Longs above 20,930.00 targeting 21,175.00.
Longs above 21,175.00 targeting 21,243.00.