May 23

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

Wednesday’s session had a large liquidation break that left single prints in the profile between 5907.50 and 5913.50. Going into today’s session, the goal for sellers was to find acceptance within or below the prior day’s “lower distribution”. These sellers did keep us within the lower distribution but there wasn’t much interest below the prior day’s range.

• If sellers can push us back below Wednesday’s low it’s all taking us back below the 5800 psychological level in order to trade into the gap that we have between 5710 and 5805.75. If sellers can trade below 5805.75 we would see the end of Weekly One Time Framing Higher.

• For buyers it’s all about getting us back above 5881 which can result in some initiative buying that takes us back to the 5900 psychological level or towards the top of Wednesday’s single prints.

Value Area:

VAH 5877.25
POC 5857.25
VAL 5851.75

Bullish Scenarios:

• Longs above 5881 targeting 5910.

Bearish Scenarios:

• Shorts below 5881 or below 5860 targeting 5823 followed by 5800.

• Shorts below 5800 targeting the gap fill at 5735 followed by the gap fill at 5710.

Nasdaq:

• Inside Day Rules