March 11
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Sellers remain firmly in control, as we once again saw a lack of interest above the 5700 psychological level. Although buyers managed to push price up early in the session, the move stalled just below the 5711.25 high, and no meaningful acceptance was achieved above 5700. This confirms that sellers continue to defend that zone aggressively, and Daily One Time Framing Lower remains intact.
Price spent part of the session attempting to consolidate near the 5647 BZ level, but once that area failed, we saw another liquidation break into 5589, where we found responsive buyers into the close.
The most bullish scenario for tomorrow would be a break above 5711.25, which would officially end the one time framing lower and could open the door for a move toward 5764 and potentially 5823 if buyers gain traction.
The most bearish scenario is continued rejection below the 5647–5660 zone, with sellers pressing back through 5589, targeting 5530, and then 5472 if momentum continues.
Bullish Scenarios:
Careful longs above 5647 targeting 5700–5711.25.
Longs above 5711.25 (end of Daily OTF Lower) targeting 5764.
Longs above 5764 targeting 5823.
Bearish Scenarios:
Shorts below 5647 targeting 5589.
Shorts below 5589 targeting 5530, then 5472.
Nasdaq:
Longs above 19,782.00 targeting 20,200.00.
Shorts below 19,667.00 or below 19,469.00 targeting 19,128.00.
Shorts below 19,128.00 targeting 18,746.00.