Nasdaq (NQ) Daily Trade Plan: A Volatile Plunge into the Daily Leg

With GDP and Jobless Claims on Deck, Here’s How to Trade the Pivots and the ‘Highly Confluent’ Support at 24,507.50.

SCHEDULED NEWS

Good morning, everyone. Today is Thursday, September 25th.

We had a fantastic day yesterday, with the trade plan calling out extreme weakness below the 4-hour at 24,861.00, and that is indeed what happened, bringing us all the way down into our low volume area. After drifting higher last night, the market tipped its scales around midnight and has moved down approximately 200 points as we traverse into our major daily leg.

We have big red-tag news this morning with GDP and Unemployment Claims at 8:30 AM ET. These are sure to give us a shake, so we need to be very careful. Let’s get right into the levels.