Review

Yesterday’s opening action gave us a strong clue to at least refrain from the short side, because of the lack of momentum in the underlying stocks (using NYSE TICK). This created a great long opportunity for the gap close target. There we also good tradeable reactions off the red zone, with momentum weakening into that area (see above).

Overnight the range is currently 3273.00-3291.75, overlapping higher to yesterday’s range, helped by strong numbers from AAPL after hours.

The immediate overhead targets are the 3293.25-95.25 zone (Friday’s settlement and VPOC) and then the 3299-01.50 zone (composite low volume area).

Below are the 3276.75-78.25 (yesterday’s settle and VPOC) and 3272.25-73.25 zones (overnight low, prior LVN, prior afternoon swing low & initial balance high). If sellers break that zone there’s a strong chance of a flush lower into yesterday’s single prints etc to test the 3256.75-58.50 zone