Today's candle is bullish and working on taking out yesterday's bearish one. The overnight story is simple: price tapped 29,103.00, held it, broke back above VWAP around 11, and has not looked back since. Everything above here is resistance that has not been cleared yet.
This video does not predict where NQ goes. It maps the levels and the conditions that would grade the move.
THE LEVELS ON THE CHART 29,392.75 is Sunday's open, the purple level at the top. 29,385.75 is the green resistance level price is testing now. 29,323.25 was resistance on the way up and is now the first level underneath. 29,202.22 is VWAP, with price well above it. 29,103.00 is the support that held in the Asian session.
WHAT WOULD CHANGE THE READ Holding above 29,323.25 keeps the reclaim intact and leaves the 29,385 to 29,392 band as the next test. Losing 29,323.25 puts price back toward VWAP, which is a long way below at 29,202.22. Clearing a level is not the same as holding it. The retest is where this gets graded.
TODAY'S CALENDAR ADP at 8:15 AM ET. Fed speakers at 8:30 AM and again at 4:00 PM ET. S&P Global Composite PMI at 9:00 AM ET. Consumer Confidence at 10:00 AM ET. A busy tape, so expect volatility around each print.
TIMESTAMPS 0:00 Where NQ opens and the data stacked up for today 0:42 The bullish candle and the levels from yesterday and Sunday 1:31 The one-hour view and the trend line to watch 1:56 The Asian session recap: 29,103 held and VWAP reclaimed 2:43 The five-minute setup into the open 3:38 Where to start free
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