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When will the game of musical chairs end?
ES Pre market Plan will be wide given the range expansion we had today. I will cover in the next post. In this post I will be covering my most immediate plan for Sunday open as we had a nice reclaim and hold of the weekly low yet again showing the strength of the bull thesis as of now.
Per the illustration i would be interested in pullbacks at 5526 with a reclaim of the 5531-35 for a long overnight into the cash open. We have a short week next week for 4th of July I do expect us to potentially coil up next week but more on that later.
tps would be 5541 / 550 / 5561 ish
Pre Market Plan NQ 7/1 No coincidence the 918 zone on NQ held on recent dip and ripped for another 100pts . That zone will be critical for next week as well along side the 20170 zone . It might be the 20120 but I will have to wait for some more price action to develop to know for sure which zone as we trade in the days to come. For now we have the 900-920 zone as a solidified level of interest for the bulls to hold that has now rewarded immensely this week alone. as we continue to hack away at the level the more times it tests I assume the bounces to become slightly weaker and the reactions on the level to become slightly "fuzzier". Meaning price will potentially undercut the level by about 20-40pts then reclaim and squeeze before putting in a reversal. The note provided above is key to understanding any level and its potential for reversals as it becomes "tested" time and time again.
