Market Analysis and Trades for 9/3

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The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. Market Analysis for the Week of 8/31

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The plan for today was effectively rendered moot as the entire bearish sequence was effectively complete in the first 5 minutes of the cash session after the large gap down.

The major spot for the last couple of weeks has been 23342-23369 on NQ and 6431-6435 on ES. A loss of that spot opened a retest of 23023-23046 on NQ and 6376-6382 on ES. This is a very clear line in the sand for NQ.

ES sellers probed just below the 6376-6382 spot, but like the last trip down here, ultimately failed rather quickly.

Both ES and NQ reclaimed critical areas after hours on the GOOGL 0.00%↑ news. SPY 0.00%↑ stick saved its structural higher low today and NQ held its line in the sand. Was that the end of the selling or is this a relief pop to be sold? I have a slight lean but as always, we will let price do the talking

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