Gap Levels Holding as Consolidation Persists

Markets are entering the session inside yesterday’s ranges, with key gap levels holding across indices. This remains a consolidation environment, where activity is less important than discipline and level awareness.

Market Structure Overview

Nasdaq Futures

• Key gap level: 25,538

• Acceptance below 25,538 would reopen a gap fill toward ~25,430

• Reclaim and hold above yesterday’s highs would shift focus toward 25,800

• While price holds between the gap and prior highs, conviction remains limited

Framework:

Risk is better defined after acceptance either below the gap or above prior highs. Until then, patience is favored.

S&P 500 Futures

• Key support zone: 6,932–6,940

• Acceptance below 6,932 exposes a gap fill toward ~6,913

• Supply capped price near 6,963 during the prior session

Structural Note:

A full gap fill into 6,913, especially with moving average confluence, would complete a cleaner downside rotation. Without that, upside attempts remain vulnerable to rejection.

SPY

• Gap begins below 686.38

• Gap fill zone: 684–683

• Supply remains overhead near 689.27

Structure:

• 686–689 reflects consolidation with reduced edge

• Acceptance below 686.38 favors gap completion

• Acceptance above 689.27 would reopen upside continuation potential

QQQ

• Key gap level: 616.72 (aligned with daily 50)

• Acceptance below opens downside toward ~613

• Overhead supply remains 620–623

Framework:

Structure improves only after acceptance outside the current range. Inside levels suggest continued balance.

Other Key Markets

IWM

• Strong push yesterday into 253.40 supply

• Structure favors patience for a pullback toward 250

• Strength into supply remains lower quality

Gold

• Reclaimed 4,409–4,434

• 4,488 remains a major decision level

• Acceptance above supports continuation; rejection keeps rotation risk intact

Silver

• Stair-step reclaim structure remains intact

• Holding near ~76

• Next reference level sits near ~78.06

Bitcoin (IBIT proxy)

• Price reached 53.72, aligned with daily 50 resistance

• Structure is extended into supply

• Higher-quality continuation would come after consolidation or retracement toward ~51.40

Equities Focus

Tesla

• Holding 446–448 would maintain a potential higher-low structure

• Acceptance below keeps the trend corrective

Nvidia

• Repeated failures near 191

• Without a daily close above, structure remains unresolved

AMD

• Continued rejection near 226

• Pullback toward 220 would be structurally constructive

• Reclaim of 226 improves upside context

Broadcom

• 345 has shifted from support to resistance

• Acceptance below keeps downside risk active

Trader Mindset for Today

• Inside prior ranges, urgency remains low

• Unresolved gaps below continue to define risk

• Cleaner opportunities tend to emerge after structure resolves

• Preserving capital during balance is part of the process

What Matters Next

• Acceptance below gap levels for downside continuation

• Or acceptance above prior highs for renewed upside

• Until resolution: stay selective and manage exposure carefully

Preparation over prediction remains the priority.

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