Intraday price analysis for the Emini Dow [YM] and Emini Nasdaq [NQ]

The Measured Move scenarios for Emini Dow [YM] and Emini Nasdaq [NQ]

Here is a Playbook style analysis with charts for the YM & NQ.

MM-YM-NQ-1-23-19

The Pivot Point story

Emini Dow [YM]

Pulled back along with the ES into support ahead of the European open in the overnight session and continued higher. For today, we are clearly sailing above initial resistance which sits at 24485 but finding some selling at secondary resistance at 24579. Staying above that secondary resistance (which is what we think this will do today), will have us seek out 24736 and will halt further gains for the day.

Failing to hold 24485 will find very nice support at 24295. If the bulls do not show up to work today, expect 24201 to offer up some support and below there is decent support at 24044 in the markets attempt to protect the 24K handle.

Emini Nasdaq [NQ]

This goes up fastest and comes down fastest if any of you have noticed. We have initial resistance at 6691.75 and buyers showing up today can have us push this to 6729.50. If the buying continues with the broad market seeking to fill the gap from Fridays close, expect the NQ to follow right along and find resistance at 6792.25.

Here again, failure to push higher from 6691.75 will find very good support at 6616.25. If the trend from yesterday elects to resurface today, expect 6578.50 to offer up some support and below there is good support at 6515.75.

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