[nqrack] 2025-05-08 knocking on the door of recovery...NO news morning (mea culpa)

Well, Dang.

I’m gonna update the newsletter here since i can’t send it out, i should have paid more attention, sipped my coffee, taken my creatine…? the news is NOT until next week. 🤦🏾🤦🏾🤦🏾 The numbers remain the same, but, at least for today, There is one thing I would think about differently: Given we are at the top of a balance, we could certainly have a nice down day back through the balance if she wanted, especially now that as of this writing she’s rejecting off of the 3 sig high of previous week, and close to previous day value area high. However, we’re also up enough that last week’s highs are ripe for the taking.

I’ll leave the rest of the newsletter the same, save the news blabbering..

The Numbers

Above

she’s tapped 20241.75, and is on the precipice of breaking higher. 20341.5 is the number she’ll have to beat to start to move higher, but easily doable this morning unless she wants to retreat. it’s opening the door to 20427.25. cracking this will send her on a test of 20505, and breaking through this puts 20714.75 squarely on the table. Depending on fast she’s moving she could certainly make it to 20836 (our 2024 Value Area High) anything above that, and we are, barring any spooky news, most certainly retesting the all time highs.

Below

Below is simply through the balance. Losing 20055.25 is certainly opening the door back to the number we’ve been dancing around, 19924.5. She’s closed above wednesday, which is a strong signal, but losing it. opens the door back below to 19506.25, which she has not even touched this week. if she’s there, and doesn’t offer a huge bounce back to the upside, then it’s back to 19286.5, 19102, and below.

The Big Picture

in short, keep watch on this orange area. 🙂 Currently, they’re waiting on news to see if they can push it past last week’s highs.

This week has been a bullish continuation of last week’s effort, and we’re simply pausing at the higher range, looking to build energy for a move higher. The yellow represents our double distribution, and we’ve been in the top balance portion of the distribution all week. both together make up a single balance area, that’s weighted to the top.

This current pause seems as if it’s for the explicit purpose of retesting, and perhaps, completely pounding through our dump area for a recovery of March (see the Above section). I imagine there are many bag holders who will want to offload, but many of them may have already been, during this consolidation period, so i’d watch out on both sides. My bet is on them testing these upper levels; we didn’t come this far to not have a peek above, at least, unless we get news so grim it sends them running away lower.

So, in short, my prognosis: while we’re still bearish over all, we’re in the middle of a strong bullish push that. could take it back to what i’d consider Actual Bullish territory. For that, she will need to she reclaim, and close some daily candles above 2024 Value area High (20836).

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