Price ran back up toward the highs, and the level that matters above is 31,004. That is the resistance to come.
This is trading education, not a signal or a promise.
Levels drawn before the open
Every level below was drawn on the chart before 9:30 ET and checked against the price axis. Each one was graded after the close by the same fixed rules, whichever way it went.
| Level | Role at the open | Result | What price did |
|---|---|---|---|
| 31,004.90 | resistance | not reached | never within 5 pts; closest 53.40 pts away |
Session 09:30-16:00 ET: open 30,819.00, high 30,951.50, low 30,684.00, close 30,891.50. Reached = traded within 5 points. Broke = a 5-minute close more than 10 points through after reaching it. Held = reached and never broke. Support or resistance is set by where the level sat against the opening price. A level is a reference drawn in advance, not a forecast, and a held level is not a trade result.
The plan
On the one hour the trend is up. The 6 p.m. candle, Thursday's session open, was a doji and a pullback, then continuation to the upside, close to 31,004, and another small pullback. Right now it is indecisive.
The lean into the open: price may pull back slightly, possibly back to the trend line around 9:30, and then look for a bounce or a pin to the upside to finish the day well.
The six minute shows the same rhythm overnight: a doji at Thursday's 6 p.m. open and a double bottom, a run up, consolidation, another run, back down to the trend line, and back up. It keeps printing small double bottoms, so it can dip a little more or keep consolidating.
On the calendar: the final University of Michigan sentiment read, and Fed speakers through the day. It is Friday, and the goal is to keep the week's gains, not give them back.
Sunday's free live session is at 5:30 p.m. ET on YouTube: ciycapital.com/watch
In the video
- 0:00Friday: the CIY Chart, our own platform
- 0:12NQ up about 200, trading around 30,965
- 0:28Back up toward the highs
- 0:43The levels: 31,004 is resistance
- 0:55The one hour: the upward trend
- 1:06The 6 p.m. open: a doji and the pullback
- 1:16Continuation, close to 31,004, and a pullback
- 1:24Indecisive: back to the trend line by 9:30?
- 1:31A bounce or a pin to the upside
- 1:36The six minute: the doji and the double bottom
- 1:51Run up, consolidate, back to the trend line
- 2:01More double bottoms: a little lower, or consolidation
- 2:11The calendar: Fed speakers and the final UMich read
- 2:36Keep the gains on a Friday, and Sunday's free live session
- 2:46Questions, and the sign-off
Short clips from this prep
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.