Thanks to a lower than expected CPI print (though just one data set for now) markets have attempted to breakout of a daily high set just two days ago.
QQQ/TQQQ have also left a substantial gap in the process, no gaps do not have to fill immediately and sometimes will not for a varying length of time however the point still stands.
Futures have now met Yearly VWAP's mid-band after reclaiming the -1 standard deviation band at the end of July.
If this happens to get rejected here (13443.00 on the daily) I'd look for a bulltrap this week and then a swift pullback.
Not only eyeing the gap below on ETFs but possibly as low as the next VWAP target below (Decade VWAP resting at 12584.75 at the time of writing).
If it gets worse than that (doubtful at this point in time) Then perhaps the -1 standard deviation of yearly VWAP to be retested resting at 12174.00 at the time of writing.
A clean break above current levels and a consolidation tomorrow and I'd suggest going/staying long into further upside.
Good luck traders.
QQQ/TQQQ have also left a substantial gap in the process, no gaps do not have to fill immediately and sometimes will not for a varying length of time however the point still stands.
Futures have now met Yearly VWAP's mid-band after reclaiming the -1 standard deviation band at the end of July.
If this happens to get rejected here (13443.00 on the daily) I'd look for a bulltrap this week and then a swift pullback.
Not only eyeing the gap below on ETFs but possibly as low as the next VWAP target below (Decade VWAP resting at 12584.75 at the time of writing).
If it gets worse than that (doubtful at this point in time) Then perhaps the -1 standard deviation of yearly VWAP to be retested resting at 12174.00 at the time of writing.
A clean break above current levels and a consolidation tomorrow and I'd suggest going/staying long into further upside.
Good luck traders.
Comment:
Nearly flawless.