Continue to watch the 76.57 key level in Crude Oil. Bears want to defend this level for a shot at running sell stops below 74s, and into expansion targets at 72.68 and 69.30. Bulls want to defend 74 for shot at squeezing bears through 76.57 and into 79.85.
The recent 3-day range in the NQ is just 35.50 points, which is 63% of its average 3-day range of 56.25. As I’ve mentioned before, anytime price trades in a range that is less than 65% of its average range, the probability for expansion increases. The key range to watch is 4191.50 to 4227, with a midpoint at 4209.25.
With a current six-day range of just 60 points, the NQ is likely to see expansion soon. The battle line to watch is 4179.75. 60-Point Range The E-Mini NASDAQ 100 …
The previous session’s Close price went offered as soon as trading reopened after hours, which was the first clue that Bears would defend it upon a retest the next morning. Bears did indeed defend 4094, which sparked a sell-off into 4055 for a 40-handle move! Late bulls became trapped, which triggered sell stops into MCVPOC at 4058, and within 7 ticks of 4053.25, which the bulls defended for a 30-point rally.
Today’s Premium Playbook was a thing of beauty for E-Mini NASDAQ 100 traders! Not only did our playbook nail the first move of the day for 40 points, it also identified the reversal bottom within 7 ticks, which went for 30-plus points into the close! That’s 70 handles in two, precise moves off our key levels.
