Power Hour Update for Subscribers
Another Wild Day – Can Buyers Make the Recovery?
📢 Power Hour Update for Subscribers
📉 Another Wild Day – Can Buyers Hold the Recovery?
🔍 Market Overview: Strong Intraday Rebound, But Still Deep in the Red
After a deep selloff below 5685, buyers finally stepped in, sparking a strong recovery off the lows. However, despite the bounce, markets remain significantly down on the week.
Now, all eyes are on the weekly close at 5784 ($ES) and 20250 ($NQ).
🔸 A close below 5784 keeps downside pressure intact, increasing the probability of further declines toward 5600.
🔸 A close above 5784 could suggest buyers are attempting to stabilize the market, opening the door for a short-term relief rally back toward 5860.
📊 Power Pivots & Market Structure
🔹 $ES Power Pivot: 5774
🔹 $NQ Power Pivot: 20210
The market is currently trading around these levels, making them key battlegrounds into the close.
📌 Key Levels to Watch for the Close
📉 Downside Risks – Can Bears Take Control Again?
🔻 5685 ($ES) – First Major Support Test
A break below here brings back strong bearish momentum.
If sellers defend this level after a retest, expect further weakness into next week.
🔻 19909 ($NQ) – Next Key Downside Target
If buyers fail to hold above 20250, expect a test of 19909 next week.
📈 Bullish Reversal? Key Reclaim Levels for Buyers
🔹 5784 ($ES) – Critical Weekly Close Level
A close above 5784 may signal stabilization and open the door for a rally back toward 5860 next week.
🔹 20250 ($NQ) – Buyers Must Hold This Level
Reclaiming this level could trigger a relief rally toward 20500-20650.
📚 Market Education: Why the Weekly Close Matters
🔎 What does the weekly close tell us?
The weekly close often dictates sentiment going into the next trading week.
A close above a key level suggests buyers are willing to step in, while a close below signals continued weakness.
🔎 What happens if we close below 5784 ($ES)?
It increases the probability of another leg lower next week.
Expect potential continuation toward 5600s before buyers step in again.
🔎 Trading Plan & Scenarios for the Close
📍 Scenario 1: Strong Close Above 5784 ($ES) / 20250 ($NQ) – Bullish Setup
This signals buyers successfully defended the lows and could lead to a relief rally next week.
Upside Targets: 5860 ($ES) & 20650 ($NQ).
📍 Scenario 2: Weak Close Below 5784 ($ES) / 20250 ($NQ) – Bearish Setup
Sellers remain in control, increasing the risk of further downside next week.
Downside Targets: 5685 ($ES) & 19909 ($NQ).
📍 Scenario 3: Neutral Close – Choppy End to the Week
If prices hover between 5740-5784 ($ES) and 20050-20250 ($NQ), expect sideways consolidation into next week.
📌 Final Thoughts – A Critical Close Ahead
✔ Strong recovery intraday, but markets still significantly lower on the week.
✔ Key level: 5784 ($ES) – A close below suggests more downside risk next week.
✔ Buyers must hold above 20250 ($NQ) to prevent a deeper selloff into sub-20000 levels.
🔎 How we close today could set the tone for next week. Stay sharp, and let price action dictate the next move!
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