Today’s market...

This market... I initially thought 75k would bounce a bit... But once the Middle East conflict started, it immediately dropped to the 73k level...
I have to go out now, so I’ll quickly write this...
Now we are back at the yellow threshold zone of the order book (73k) (Figure 2)... This is another short-term wave trading opportunity...
But from the order book (Figure 3)
Now the whales are also quite chaotic; the large whales that were at 73k today are now densely spoofing, mainly hanging around 72~73k and 71.5k.
If we interpret this using the previous 14% symmetrical retracement, this wave of 14% would bring us near 71k. Here, we enter a densely traded zone that has been active since February (Figure 1).
The key point for tomorrow’s major options expiration is still at 75k...
So, let’s see if the current yellow-green threshold order book color band can support a rebound to around 74~75k by tomorrow...
If by the weekend, the overall Middle East news doesn’t improve... we should prepare for a drop back to 71~72k, the 14% retracement zone.