MARK THESE LEVELS!
These levels from the 1st three charts will need to be kept on your chart through the end of the year and likely into 2024. We will refer to them often as we seek to gain context from shorter term price movements. The levels from the 4th chart will likely drive my bias early into this week, and possibly another week. I’ve included levels at the bottom (without a chart) that I’ll be watching closely tomorrow morning. I’ll try to post in the morning with a few specific, actionable setups but bear with me as I get used to the platform.
On Friday we opened on a big gap up into daily supply, had zero interest above the open, and tested the prior day’s Value Area High (VAH) -4353.75 - twice before ultimately liquidating lower. This level will be key into tomorrow as there is supply above. 4338 was my first level below which was roughly SPX 4300. It also held twice before liquidating. 4315 was the key level below as a short term High Volume Node (HVN) from this recent few days balance. 4322 became relevant later in session as expected so eyes on that as well.