The levels drawn on Sunday are still valid. Price bounced off support at 31,154 and is trying to build a little upward momentum. On the one hour, the nice upward trend line broke around 7 AM and price dropped. This could become a parallel channel, so a second line is drawn to watch.
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. They are graded after the close by fixed rules, whichever way they go.
| Level | Role at the open | Result | What price did |
|---|---|---|---|
| 31,285.94 | drawn | after the close | |
| 31,154.78 | drawn | after the close |
The plan
Watch whether price can hold and hang around the 31,200 area. Two paths: 1. With enough volume into the open, a run back up toward 31,285. 2. If price consolidates no higher than the 31,230 area, a move back down to retest 31,154, and possibly all the way to the red line below at 31,046.
A level is a reference drawn in advance, not a forecast.
In the video
- 0:00Thursday: NQ down about 208
- 0:10Trying to take out yesterday's low
- 0:22Jobless claims at 8:30
- 0:39Sunday's levels are still valid
- 0:49The bounce off 31,154
- 0:57The one hour: the trend line broke around 7 AM
- 1:10A possible parallel channel
- 1:28The plan: the 31,200 area
- 1:40Up toward 31,285, or back to 31,154
- 2:03Questions, and ciycapital.com
The prep is free every trading morning, with the levels drawn before the open. Get it here.
Trading education only. Not financial advice, not a signal, and no promise of any result. Full disclaimer.