Lesson of the Day
Reading the tape is an acquired skill learned over 1000s of hours of screen time.
Big Picture
Game Plan for ES/SPY:
Scenario 1: If above 4609, then targets of 4615 and 4625-30.
Scenario 2: If below 4609, then initial target of 4585-88 with additional targets of 4575 and 4564.
Game Plan for NQ/QQQ:
Scenario 1: If above 15900, then targets of 15941, 15982, and 16024.
Scenario 2: If below 15900 then targets of 15816, 15775, and 15734.
Game Plan for YM:
Scenario 1: If above 35315, then targets of 35400, 35500, and 35600.
Scenario 2: If below 35315, then initial support at 35200. If 35200 drops, then targets of 35100 and 35000.
Game Plan for GC:
Scenario 1: If above 1990, then targets of 1994 and 2000. 2000 is a big psychological level.
Scenario 2: If below 1990, then initial supports at 1980 and 1975. Below 1975 targets at minimum 1968.
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Disclaimer: This article contains the views, opinions, and recommendations of the author. Any information provided may not be relied on as investment, financial, legal, tax, regulatory, or any other type of advice.