Bulls Hold the Key Line
But Can They Hold Again?
📈 Morning Market Update for Subscribers
Bulls Holding the Line – But Can They Hold Again?
Good morning traders! We kick off another trading day with a gap higher open after Friday’s aggressive selling. Buyers managed to defend key supports at 6030 ($ES) and 21676 ($NQ), but the fight is far from over. Let’s dive into today's pivotal levels, scenarios, and educational insights.
🎯 Market Overview & Open Pivots
Open Pivot ($ES): 6058
Open Pivot ($NQ): 21778
These levels will guide today's early market sentiment:
An open above indicates buyers attempting to regain control.
An open below would be bearish and reinforce downside momentum.
🔑 Key Levels to Watch
✅ Upside Targets & Conditions
6050 ($ES): Crucial to maintain a daily close above this level today. Buyers need this to build a bottom.
6075 ($ES) & 21757 ($NQ): The daily bias pivot points—above these levels, bulls regain significant confidence and momentum can resume.
6100-6115 ($ES) & 21900 ($NQ): Next major resistance zones if upside momentum builds.
⚠️ Downside Risks & Conditions
6030 ($ES) & 21676 ($NQ): Critical support zones that held overnight. These will likely be retested. Failure here can trigger significant downside continuation.
6000-6015 ($ES) & 21500 ($NQ): Next targets if current supports fail. Could see accelerated selling if breached.
📝 Trading Plan & Setups for Today:
Scenario 1: Bullish Hold & Bounce
Watch if price holds and rejects quickly from the 6030 / 21676 supports again.
Entry: Long on a clear bounce and reclaim above 6058 pivot.
Targets: 6075 → 6100 ($ES), and 21757 → 21900 ($NQ).
Stop Loss: Below session low at supports.
Scenario 2: Bearish Breakdown
If price fails at support and closes a candle firmly below 6030 / 21676, sellers regain full control.
Entry: Short on retest and confirmation of resistance at 6030 / 21676.
Targets: 6000 ($ES), 21500 ($NQ).
Stop Loss: Above the breakdown candle high.
📚 Educational Insights: Understanding Key Bias Levels
Why are 6075 ($ES) and 21757 ($NQ) so important?
These levels represent the daily market bias—often serving as a psychological barrier between bullish and bearish sentiment.
Trading above daily bias: Buyers are willing to absorb dips; sellers struggle to hold control. This generally leads to upward continuation.
Trading below daily bias: Buyers are cautious and trapped; sellers more aggressive. This often leads to continuation to the downside.
Today, carefully watch the reaction around these bias levels. They often determine the market’s direction for the coming days.
🧠 Final Thoughts & Strategy:
Today's battle will revolve around buyers proving they can sustain above 6050, reinforcing that last week’s low may hold. If they cannot reclaim 6075, however, the sellers remain favored, and the risk of further liquidation grows significantly.
Keep stops tight, stay disciplined, and let the market confirm your trade setups.
Let’s stay sharp, traders!