[nqrack] 2025-04-16 slow tape

The Numbers

After this gap down, an obvious recovery of 18936.25 is necessary to begin eo ttry to climb up. it’s a short trip up to 18970.75 if they do, then 18992.5, and if they have anything in them 19070 before they meet more serious resistance to the downside…above that is on the chart for you to see.

If they take out 18531.50, 18521.50, we’re aiming for 18318.25, and, depending on what kind of day we’re having, we’ll either hover and defend 18243.25, or try to keep venturing lower to 17917 and below!

Remember, each of these levels opens a door for another one, the longer they’re closing candles below, and you’ve also got to respect the force at which their moving…pauses can often mean a reversal attempt, and they also are a pause for a greater move a few levels lower…the more you spend time looking at a ticker, the better feel you’ll get. Not much else to offer you but you need to spend time getting familiar with your tape!

The Big Picture

Yesterday was a yawner, a gap and crapish, with a few opportunities at key levels (3d 2 sig hi ended up holding, with a wide enough stop..better for me for SQQQ than a futures contract, as far as personal psychological safety. 🙂 and if you would have held. Wow what a Tax Day Gap Down…somebody had to pay those bills! Will she continue? Given the overnight, it looks like it, as she has to fill the gap before even hitting the previous day’s value area.. But anything can happen. The overnight high spiked and rejected around the 3 sigma low of yesterday’s value area pretty at the beginning of the London session…

Keep in mind the numbers above, keep in mind that she seems to be looking for lower numbers, but, after the news, and after the bell, a fakeout operation is never surprising.

News

This morning, we have retail sales, which will push the tape, or at least kick off some volatility.

Here’s to patience, confidence, learning, and profits! 🫡