March 14
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March 14 Pre-Bell Update
Overnight Inventory is 100% long. We are currently trading inside of yesterday’s range so gap rules don’t apply. Notice how we have the Overnight High almost exactly at the 5589 BZ level.
VWAP is sitting at 5567 which is just a couple of points above the 5560 BZ level. At 5564 we have the ETH Halfback.
Buyers need to get us back above 5589, they need to find support above this level. Support above it could take us back to Wednesday’s high similar to an “inside day breakout failure”.
March 14 Plan
Sellers continue to control the tape, as today's session followed through on yesterday’s tight consolidation, which was nearly an inside day. Despite some early strength, buyers failed to gain meaningful acceptance above the 5600 psychological level, and price rolled over again. Daily One Time Framing Lower remains intact, and structure continues to favor sellers.
Price action remains heavy, with value still migrating lower. Buyers were unable to shift momentum despite early attempts to push toward 5589–5600, and the close near 5530 reinforces the idea that sellers remain in control heading into tomorrow’s session.
The most bullish scenario for tomorrow would be a move above today’s high near 5589, which could trigger a short-covering bounce toward 5647. However, such a move would still be considered counter-trend, unless buyers can fully end the Daily OTF Lower by reclaiming and sustaining levels above key resistance.
The most bearish scenario would be continued weakness below 5530, which would likely open the door to 5472, followed by 5413 if liquidation accelerates.
Bullish Scenarios:
Longs above 5589 targeting 5647.
Longs above 5647 targeting 5705.
Bearish Scenarios:
Shorts below 5589 or below 5530 targeting 5472.
Shorts below 5472 targeting 5413.
Nasdaq:
Longs above 19,469.00 targeting 19,782.00.
Longs above 19,782.00 targeting 20,200.00.
Shorts below 19,400.00 or below 19,128.00.
Shorts below 19,128.00 targeting 18,746.00.