87,87,87 – as of right now todays low is 1386.25
Earlier this week I noted that “1387-89 area is value area low but also high volume node on composite and micro-composite. The mid point of the current balance is marked as 1389.25 – it looks key for bulls to hold.”
It is no longer the mid point – that is 93/94 – todays IBH.
I also said “under lvn 1394 to 1387” – not a huge deal but
1387.75 1388.5 was the vpoc for this balance early on and is again right now
As mentioned yesterday 1388 support – this idea came from 03/14 (1388.5) and 03/22 (1387.75) – todays IBL was at 1387.75 – templating those two days to today:
Bigger picture. Tomorrows calendar:
The market still looks like it wants to go up. If the news is good then 1409 should be reachable.
Next week lets see if we can get back to HVN 1419 and then to HVN 1427.5 (also the 127% extension of the current 1371.5-1415.5 balance). Afterwards potentially to HVN 1441.5/1442.25 (161% extension of the current balance). This would make a 50-70 handle balance, something that seems possible given recent action.
I am still watching for a retest of 1377 and 1371.5, however this market does not want to downtick. The pullback to 1380 may be the low of the next upswing.
Updated after end of RTH session: exhausted just short of PP and Gap close … good stuff