March 4

Discord access link: https://discord.gg/UPbu6PZFDp

Sellers took control again today after rejecting the 5998 BZ level, leading to a strong selloff. Once we traded below the 5881 BZ level, a liquidation break occurred, pushing price all the way down to the 5823 BZ level after briefly looking below last week's low (Friday's low).

We now have multiple sets of single prints:

• Between 5929.50 and 5930.50

• Between 5872 and 5882.50

• Between 5884.25 and 5897.75

These lower sets of singles add confluence to the 5900 psychological level and the 5881 BZ level. This 5900-5881 zone is now a key battleground. If sellers can defend this area, the most bearish scenario would be continued selling below last week's low.

The most bullish scenario would be for buyers to reclaim and hold above 5881-5900, which would invalidate today's aggressive selling and open the door for a retest of 5940.

Sellers need to keep price below last week's low for continued downside confirmation. A failure to hold below could lead to a squeeze higher.

Value Area:
VAH 5966.25

POC 5956

VAL 5862.50

Bullish Scenarios:

• Longs above 5900 targeting 5930.50.

• Longs above 5940 targeting 5969.

Bearish Scenarios:

• Shorts below 5881 targeting 5823.

• Shorts below 5823 targeting 5764.

Nasdaq:

• Longs above 20,585.00 targeting 20,930.00.

• Shorts below 20,585.00 or below 20,372.00 targeting 20,027.00 followed by 19,782.00.