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A false break down in NQ has negated the bearish bias and the upside break of the 3 day's range has been put on the table today.
It is possible that NQ is going to test 7100 today. I would watch NQ closely to see how it interacts the order flow around 7075 level to gauge the underlying strength.
Can you help answer these questions from other members on NexusFi?
I would expect the double top weak structure to be repaired in today's session.
If market wanted to sell on the news, run the stops at the high before turning lower is the strongest move.
In the above case, i would not expect the price to probe above 2767.5.
Or it can make a clean break of the high and run into the 2775 liquidity pool.
I am pointing to the single prints in the TPO profile, which suggest emotional buying or short covering.
Those single prints are usually repaired later after the emotion fades.
Both ES and FESX has tested their respective key levels of 2780 for ES and 3250 for FESX during light holiday trading.
The rejection or acceptance would have to be confirmed by the cash session trading, I would expect some reaction from those levels.
I would watch closely for the order flows around those levels to gauge the strength of the market.