May 9

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

This morning’s gap got filled but initiative buyers showed up above yesterday’s Value Area High. The subsequent move through the 5700-05 area took us to the 5735 BZ level/target. Buyers were able to look above the prior week’s high but we saw liquidation break to tend the day. Nevertheless, we still so a close not only above/outside the prior day’s range, but also above this week’s open at 5664.25.

• Going into tomorrow’s session it’s all about monitoring for a potential move back above the 5700 psychological level while for sellers it’ all about getting us back below 5676 in order to trigger a “2-Day Balance breakout failure” which can take us back to 5600.

Bullish Scenarios:

• Longs above 5705 targeting 5735 followed by 5764.

Bearish Scenarios:

• Shorts below 5676 targeting 5647.

• Shorts below 5647 targeting 5600 or 5589.

Nasdaq:

• Longs above 20,200.00 targeting 20,372.00 followed by 20,585.00.

• Shorts below 20,027.00 targeting 19,782.00.