Squeeze Continues
As $ES Hits New All-Time Highs
🚀 Power Hour Market Update for Subscribers
📊 Squeeze Continues as $ES Hits New All-Time Highs
📌 Market Overview: Short Covering Rally & Key Levels Holding
✅ $ES just hit new all-time highs after bouncing off our 6130 support level and triggering a strong short-cover rally.
✅ $NQ is still lagging behind but holding firm above 22100, waiting on $NVDA earnings for the next big move.
⚠️ Key takeaway: As long as $NQ holds 22100, the squeeze remains intact. However, failure to break higher could indicate underlying weakness.
📊 Power Pivots & Market Structure
🔹 $ES Power Pivot: 6162
🔹 $NQ Power Pivot: 22275
📌 Key Daily Close Levels:
Bullish Close Above 6140 ($ES): Confirms further upside into tomorrow.
Support at 22100 ($NQ): The rally stays intact as long as this level holds.
Resistance Targets: 22405 ($NQ) → Then all-time highs.
🚀 Trade Plan & Key Scenarios
1️⃣ Upside Breakout Plan (Bullish Case)
✔ Trigger: A strong close above 6140 ($ES) & 22275 ($NQ) keeps the momentum going.
✔ Confirmation: $NQ needs to reclaim and hold 22405 for a push into new highs.
✔ Targets:
🎯 22405 ($NQ) → First breakout level
🎯 22650+ ($NQ) → If momentum continues post-NVDA
⚠️ Key Signs of Strength:
✅ Strong closes near session highs.
✅ Aggressive dip buying off support.
✅ Breakouts happening on increasing volume.
2️⃣ Caution Signals: Weakness Before a Pullback
❌ If $NQ stalls below 22405 & fails to reclaim 22300, it could indicate buyers are exhausted.
❌ If $ES closes below 6140, it raises concerns about momentum continuation.
📌 Downside Risk:
If $NQ drops under 22100, selling could accelerate.
Key downside targets:
21950 ($NQ) → First pullback level
6130 ($ES) → Must hold for bulls
📚 Market Education: Understanding the NVDA Earnings Trade
🔎 Why $NVDA Matters So Much to $NQ
$NVDA is the dominant player in the AI arms race, meaning strong earnings could fuel another leg higher for tech.
Since $NQ is lagging behind $ES, bulls are likely waiting for confirmation from NVDA before committing to new highs.
What to Watch:
📍 If NVDA smashes earnings → Expect $NQ to spike hard into 22405+, possibly pushing all-time highs.
📍 If NVDA disappoints or guidance is weak → Expect profit-taking and possible sell-off back to 22100 or lower.
🔎 Final Thoughts & Trading Strategy for Power Hour
🔹 $ES has confirmed its strength, hitting new highs, but $NQ still needs to follow.
🔹 A strong daily close above 6140 ($ES) would confirm continuation into tomorrow.
🔹 $NQ must hold 22100 and break 22405 for the next squeeze move.
🎯 Main Game Plan: Stay cautious ahead of $NVDA earnings but watch for confirmation signals from $NQ.
👀 Let the market confirm direction before committing to major trades.