May 8

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May 8 Pre-Bell Update

  • Overnight Inventory is 100% long. We are trading above/outside yesterday’s range which means that gap rules apply. The rule tells us to “go with the gap” if it doesn’t get filled. A sign of stronger buyers is preventing the gap from getting filled.

  • I would say that the main goal for buyers going into today’s session will be lie to find support above the 5700 psychological session.

  • During yesterday’s session, buyers were able to end Daily One Time Framing Lower. During the ETH session these buyers were able to look above yesterday’s excess high and have found support above the 5676 BZ level, above yesterday’s high.

• VWAP is sitting at 5691 which is a BZ level (halfback between the 5676 and 5705 BZ levels).

May 8 Plan

Today’s value is pretty similar to yesterday’s which means that in terms of “value” not much has changed. We now have a “2-Day Balance”. Tomorrow I will look for the breakout above or below it.

  • In terms of scenarios, I would say that they are the same from yesterday’s plan. Buyers need to find support above 5647 but ultimately it’s about getting back above the 5676 BZ level (see today’s high). For sellers it’s all about getting back below 5589 in order to reject last Wednesday’s spike.

  • The fact that buyers look above yesterday’s high means that Daily One Time Framing Lower technically came to an end today.

Value Area

VAH 5654

POC 5649

VAL 5627.25



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May 9
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May 7