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- 2025.07.01 lonely at the top
2025.07.01 lonely at the top
market needs a breather, will we give it some today, or keep pushing it?
n qracky
July 01, 2025 • Estimated Reading Time: 4 minutes
🌟 Welcome!
What a run so far. NQ’s reached its all time highs and beyond and we’re extended. Does this mean it has to drop? Well, it never means that. What it does mean, as it does every time we look at the tape, we want to find some important places, and be prepared for what’s next.
The Numbers
Above Holding above 22760 is important (gap fill). losing this and there’s a potential 100 point drop she can make to retest the poor low below. so, as of this writing, holding above is important, giving us a chance to make it to 22812 which will restart us in bullish territory for the week. 22824 will need to be broken again, then we have: | Below staying below 22812 keeps 22798 as a trap door to 22760, and losing that puts 22736 on the table as a potential bounce place, or at least good for a scalp. That said, we’d be more likely to continue to retest 22611. And while i don’t want to say we’ll get there, 22418.75 is certainly doable. Today. |
📸 The Big Picture
We are on a bull run without a doubt. But before the session, I marked ain important place, and she peeked above, and failed, and has been dropping ever since. it’s a “no waltz zone”.
Also, we have unfinished business at 22611, our poor /crowded low. I was hoping we’d say hello during the session yesterday and we didn’t. As far as I’m concerned it’s still on the table. and if we get there, I expect an initial bounce…unless she decides to tear through it…then there’s a little trouble for bulls today.
In fact i’m in the middle of managing a few trades, and they may make it there by the time i finish typing. If they do, I might turn bullish on the day, as they could rocket from there…..
….ok out of one so back to this newsletter (hit the target on the nose. crazy.)
yeah so they could rocket tfrom 22611 if they make it there premarket. I’m not going to say they’ll make it there at all, but it is an interesting place to revisit if they’re gonna do any revisting today, especially on a news day. What seems more likely (and is what’s happening), is the attempt to hold at our gap fill area (see target above), and continue upwards towards our ultimate target above (and/or higher).
One more thing to be aware of…given we are at our all time high area, it would not be strange at all if we chopped around here for the next couple of days, or even weeks. Anything can happen.
đź“° News
Remembering...
Date | Time | Description |
|---|---|---|
7/1/2025 | 10:00:00 AM | US JOLTs Job Openings |
7/1/2025 | 10:00:00 AM | US ISM Manufacturing PMI |
Here’s to patience, learning, and profits!