March 24

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We continue to see balance between the 5647 and 5764 BZ levels. We’ve been trading within this range during the last 6 sessions. ON Friday we saw an attempt at an inside day breakout to the downside but buyers were able to close the session inside the prior day’s range (inside day), above the 5705 BZ level. Going into Monday’s session I will be monitoring continued support above 5705 which could trigger a move back to 5764 due to an “inside day breakout failure”.

• Last week we saw the end of Weekly One Time Framing Lower but in reality buyers only looked slightly above the prior week’s high. This means that we could treat this week almost as an “inside week”. If we see acceleration above or below this week’s high/low I will monitor the breakout.

Friday’s Value Area:

VAH 5703.75
POC 5672.25
VAL 5663.00

Bullish Scenarios:

• Longs above 5705 targeting 5735 followed by 5764.

• Longs above 5764 targeting 5823.

Bearish Scenarios:

• Shots below 5687 targeting 5647.

• Shorts below 5647 targeting 5589 followed by 5530.

Nasdaq:

• Longs above 19,841.00 targeting 20,027.00.

• Longs above 20,027.00 targeting 20,372.00.

• Shorts below 19,782.00 targeting 19,469.00.