May 28

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

Initiative buyers showed up after this morning’s look below the shortened session’s low. The rally left single prints in the profile between 5889 and 5901.50, from 5916.50 to 5918.75, and from 5921.78 to 5923.75. The rally stalled right at the 5940 BZ level.

• With today’s move, buyers were able to invalidate last Wednesday’s selling. Now it’s all about finding acceptance above 5940 which would take us back inside the “3-Day Balance that we have mostly between 5940 and 5969. This could mean that tomorrow we could see the “3-Day Balance breakout failure”.

• I’m going to be monitoring for responsive buyers within today’s LVN/single prints or for initiative buyers above 5940.

Bullish Scenarios:

• Longs above 5918 or above 5925 targeting 5940.

• Longs above 5940 targeting 5969.

Bearish Scenarios:

• Shorts below 5910 targeting 5889.

• Shorts below 5881 targeting 5823.

Nasdaq:

• Longs above 21,365.00 or above 21,488.00 targeting 21,661.00.