NQ Power Range Report with FIB Ext - 11/5/2024 SessionCME_MINI:NQZ2024
- PR High: 20132.00
- PR Low: 20084.75
- NZ Spread: 105.75
Key scheduled economic events
05:00 | U.S. Presidential Election
09:45 | S&P Global Services PMI
10:00 | ISM Non-Manufacturing PMI
- ISM Non-Manufacturing Prices
13:00 | 10-Year Note Auction
AMP raised margins for expected overnight volatility
- Inside daily print
- Previous session closed virtually unchanged
Session Open Stats (As of 12:35 AM 11/5)
- Weekend Gap: -0.13 (filled)
- Gap 10/30/23 +0.47% (open < 14272)
- Session Open ATR: 288.45
- Volume: 21K
- Open Int: 252K
- Trend Grade: Bull
- From BA ATH: -5.2% (Rounded)
Key Levels (Rounded - Think of these as ranges)
- Long: 20954
- Mid: 19814
- Short: 17533
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
BA: Back Adjusted
BuZ/BeZ: Bull Zone / Bear Zone
NZ: Neutral Zone
Highvolumealert
$IMXI broke out with a tonne of volume! Will it hold?* Great earnings
* Possible start of a stage 2 up trend
* Sector: Technology - Information Technology Services
* Relative Strength vs. Sector: 2.82
* Relative Strength vs. SP500: 4.8
* U/D Ratio: 1.53
* Base Depth: 27.85%
* Distance from breakout buy point: 7.07%
* Volume 153.75% above its 15 day avg.
Thoughts:
* This, at the moment, seems short term extended and may offer a pull back entry.
* Looking at the weekly/monthly charts it does seem like the start of a stage 2 up trend.
* If it does offer a pullback entry, the best case scenario would be a buy opportunity around the $18.96 area.
* Given how it broke out, it may consolidate around the highs for a while and offer an entry somewhere around there.
This is one to keep an eye on for sure.
Trade Idea:
* Not actionable at the moment.