November 1

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

With today’s gap and subsequent breakout below the 5800 psychological level we saw the move exactly towards the bottom of the “14-Day Balance” at the 5735 BZ level. This was the completion of the “Balance Area breakout failure”.

• The move left “B period” single prints between 5775.75 and 5781.50 which means that today we have a “double distribution” profile. For sellers it’s all about keeping us within or below the “lower distribution”.

• We are now trading in the vicinity of the October low at 5724. I will be monitoring for continuation of Monthly One Time Farming Higher.

• We now have an important gap above us between 5781.75 and 5840.25. Buyers main goal should be to fill this gap.

Bullish Scenarios:

• Longs above 5794 targeting 5823. The idea with this long as that we would’ve seen a rejection of the lower distribution. Sellers should defend the single prints.

• Longs above 5823 targeting 5852.

Bearish Scenarios:

• Shorts below 5764 or below 5735 targeting 5705.

• Shorts at 5770 with stop above the top of the singles at 5781.50.

Nasdaq:

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

• Shorts below 20,027.00 targeting 19,782.00.