The overnight story is short. Price opened close to where it closed, came down aggressively, lost 29,192, and based at 29,103. From there it bounced back to VWAP near 29,205, which leaves 29,192 as a potential lower high rather than reclaimed support.
On the one hour that shape is a lopsided ascending triangle, and it lines up with the bull flag still visible on the daily. Yesterday was a bullish day that closed as indecision, so this is a market that has not chosen 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 the purple level at the top, carried over from Sunday's open. 29,385.75 is the green resistance above price. 29,323.25 is the red level underneath that band. 29,205.80 is VWAP, which price has bounced back to. 29,192.25 is the green level that broke overnight and is now a potential lower high. 29,103.00 is the red support base that held.
WHAT WOULD CHANGE THE READ Reclaiming 29,192 turns the lower high into a higher low and keeps the ascending triangle intact. Failing there again puts 29,103 back in play as the retest. A print like Core PCE can do either in a single candle, which is why the level matters more than the forecast.
TODAY'S CALENDAR Core PCE Price Index at 8:30 AM ET. This is the red folder event. Crude oil inventories at 10:30 AM ET. Fed speakers at 11:45 AM and 12:15 PM ET. Everything else is secondary to the 8:30 print.
TIMESTAMPS 0:00 Where NQ opens and what is down overnight 0:11 The calendar and the 8:30 red folder print 0:45 Prior day indecision and the bull flag on the daily 1:11 The levels carried over from Sunday 1:33 The one-hour view 1:44 The overnight recap: 29,192 broke, 29,103 held 2:21 Marking the trend line that has to hold 2:44 The lopsided ascending triangle 3:09 The five-minute view into the open 3:42 Where to start free
THE SCHEDULE Sunday at 5:36 PM ET is the free public session, the Weekly Game Plan, live here and on Rumble. Monday through Friday, members trade that plan live on The Floor, our private room, including every FOMC and red-folder day.
START HERE Free lessons and the Candlestick Challenge: https://ciycapital.com The Floor, our live member room: https://ciycapital.com/live Questions: info@ciycapital.com
Watch on Rumble: https://rumble.com/user/ciycapital
DISCLAIMER Educational content only. Nothing in this video is financial advice, a signal, a recommendation, or an offer to buy or sell any security. Trading futures involves substantial risk of loss and is not suitable for every investor. Past performance does not indicate future results. You are responsible for your own decisions.
#NASDAQ #NQFutures #DayTrading #FuturesTrading #TradingEducation #NQ #StockMarket #PriceAction #VWAP #CorePCE
The prep is free every trading morning before the open. Get it here.
Trading education only. Not financial advice, not a signal, and no promise of any result. Full disclaimer.