10h • General discussion
DAILY CHECK IN
QQQ opened near 596 this morning and immediately swept below the 594 support zone, printing a low of 591.87 before rotating back toward 600. That is a textbook liquidity sweep. The market knew exactly where the stops were sitting. It went down, grabbed them, and reversed. Classic armed robbery.
The key question now is whether price can reclaim 606 to 609. Until that happens, this is still a bounce inside a lower high structure. We stay patient and let the market confirm.
NOW LET’S LOOK AT SPY.
SPY opened near 675, just below the 675.88 support level. It dropped to a low of 669.66, stopped out the weak longs, then fought its way back above support. Session high came in at 677.86.
Structure is still broken. Bears have pressure on. But bulls showed up and defended the level. That matters.
Context you need: today’s selloff is not random. The U.S. Iran conflict is the headline. Oil is spiking. The Nasdaq is down over 2%. Markets hate uncertainty and right now there is a lot of it.
This is exactly why we do not press buttons based on emotion. Breathe. Look at the levels. The market is recalibrating, not collapsing. Volatility is information. Discipline is the edge.
Wait for the close before making any moves.
— Aziz | EagleTrade
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DAILY CHECK IN
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