May 12

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May 12 Plan/PB Update

• Overnight Inventory is 100% long. We are currently trading way above the prior week’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 strong buyers is preventing the gap from getting filled.

• Notice that we have the base of the large ETH spike/single prints near the 5764 BZ level. VWAP is sitting at 5820 which adds confluence to the 5823 BZ level.

• I’m going to be monitoring the open and the overnight high. Lack of interest above these references could trigger a correction to overnight inventory. Another possibility is to have some sideways action while the market digests the news and the large gap.

• In terms of targets I have the 5881 BZ level above the 5852 BZ level. Above 5881 I will be looking for the 5900 psychological level or for the 5910 BZ level.

• Below VWAP I would be looking for a move back to the 5800 psychological level or deeper into the ETH single prints.

• NQ buyers need to keep us above the 20,930.00 level in order to the target 21,100.00 or the 21,243.00 BZ level.

• NQ’s base of the ETH spike is right at the 20,585.00 BZ level.