Profile levels:
Previous RTH: VAH: 18,654; VAL: 18,620; POC: 18,632; tPOC range: 18,409/640/718
Post RTH/Overnight: VAH: 18,673/630; VAL: 18,623/641; POC: 18,626/666
VWAP: 18,663
OVERNIGHT LEVELS: O: 18,638; H: 18,683.50 (pre-NY open); L: 18,637 (180005hrs EDT)
PREV SESSION LEVELS: O: 18,699; H: 18,677 (1049hrs EDT); L: 18,545 (1423hrs EDT); C: 18,637
The bull run seems to be continuing as markets have pulled back to the value area low of Wednesday’s breakout. The area coincides with the breakout high of 18,545 and is reversing back to ATH territory. The only resistance levels are presently 690/718/730. If the market can clear those areas, then we’re just washing, rinsing, and repeating. The market finds itself in what was considered “no man’s land” for the most recent daily plan (17052024).
We will take the same stance as we did then. Waiting for the market to provide direction above or below “no man’s land.” Above 18,690 is bullish and below 18,660 is bearish. We will defer to the long-term moving averages for our big picture bias until further notice.
Downside targets are 18500/415/295. Upside targets are 708/760/925. If VWAP holds, then the bull is to continue.
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