Jun 29th

News for the day:

GDP Price Index and Growth Rate QoQ, Jobless Claims, Fed Bostic Speech (2:00 PM CST)

Todays (June 29th) Scenarios and Key levels:

6/29 session: VAH 4420, POC 4411, VAL 4406 • F period excess

• poor/unsecured lows

• NTPOC: 4412.50

• settlement and the last price at 4417.50 and 4422.75, respectively

• 61.8%: 4418, 50%: 4415, 38.2%: 4411

• Equity Put/Call Ratio: 0.59

• AAII Sentiment: Bulls 42.9 and Bears 27.8, last updated 6/21 (numbers not seen since 2021)

I will again use the Fib golden ratio as there are some confluences with areas and carry over a statement from yesterday’s plan.

If we can get above 4429, there is potential to clean up the 6/20 session’s | Gap range: 4444.75 - 4448.25, poor/unsecured high,

NTPOC: 4434.50, and the 6/19 abbreviated session’s poor high poor/unsecured high, gap range: 4449 - 4459, and NTPOC: 4446.50

My pivot for today will be 4419

The OVN inventory has been trading above the settlement price and net long for most of Globex, bouncing between the last price and, since 5:00 AM CST above it, flirting with the previous day’s high

Scenario 1:

aggressive longs around 4420/18 if needed, or wait for the more mechanical 50% retracement for overeager sellers. Destinations will be the statement above for the 6/20 and 6/19 sessions, which was yesterday’s scenario 3

Scenario 2:

a break below 4412.50/4411 will probably bring it back down to the VAL, but I will watch price action leading into 4412.50/4411 around the pivot for entry, with the poor low from yesterday’s session in mind

As always credits to Jontron