March 31

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March 31 Pre-Bell Update

• Overnight Inventory is 100% short. We are currently trading below/outside Friday’s range so gap rules apply. The rule tells us to “go with the gap” if it doesn’t get filled A sign of stronger sellers is preventing the gap from getting filled. We have the ETH Halfback at 5576 and VWAP is currently sitting at 5577.

• I’m going to be monitoring for a potential overnight inventory correction. If we can get some support above VWAP I will bel looking for a retest of the 5589 BZ level/area.

March 31 Plan

On Friday, we saw the completion of the “balance area breakout failure,” which took us down to the bottom of the previous balance area at 5647. Once that support area broke, we traded almost to the 5600 psychological level.

• The “B period” liquidation break left single prints in the profile between 5669.25 and 5705.50. The top of these single prints will obviously add confluence to the 5700 psychological level and to the 5705 BZ level. If we were to get a rally back into the balance area, then this is the area that I would say that sellers need to defend.

Value Area:
VAH 5660.00
POC 5624.00
VAL 5619.00

Bullish Scenarios:

• Longs above 5647 targeting 5700.

• Longs above 5705 targeting 5735.

Bearish Scenarios:

• Shorts below 5700 or below 5647 targeting 5589.

• Shorts below 5589 targeting 5530.

Nasdaq:

• Longs above 19,667.00 targeting 19,900.00.

• Longs above 19,900.00 targeting 20,027.00.

• Shorts below 19,667.00 or below 19,470.00 targeting 19,128.00.

• Shorts below 19,128.00 targeting 18,916.00 followed by 18,575.00.