May 2

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

Today’s session ended with a “spike” but this one to the downside. Notice that the base of the spike is 5618.75 which obviously adds confluence to the 5618 BZ level. It also adds confluence to yesterday’s high at 5616.50. Acceptance within or below the spike would be the most bearish scenario since it validates the late day selling. Trading below this spike would also end Daily One Time Framing Higher.

• Today we opened on a true gap to the upside but sellers were able to fill it at the end of the day. Stronger buyers would’ve prevented this. If Daily One Time Framing Higher ends tomorrow, and we trade below the base of yesterday’s spike, I’m going to be looking for a retest of the 5530 area.

• Buyers need to reject the spike and get us back above 5647.

Value Area

VAH 5666.25
POC 5658.75
VAL 5633.75

Bullish Scenarios:

• Longs above 5632 targeting 5647.

• Longs above 5647 targeting 5680 or 5700-05.

Bearish Scenarios:

• Shots below 5632 or below 5618 targeting 5589.

• Shorts below 5589 targeting 5530.

Nasdaq:

• Longs above 19,900.00 targeting 20,027.00.

• Longs above 20,027.00 targeting 20,200.00 followed by 20,585.00.

• Shorts below 19,900.00 or below 19,782.00 targeting 19,470.00.

• ⁃ Shorts below 19,470.00 targeting 19,128.00.