The market closed with another outside bar and an elongated, somewhat tricky profile structure, though the volume distribution shows a touch of balance. With the opening above value, we can lean on buying scenarios off the VAH close around 6885 and the POC near 6872 if a pullback develops and provides an opportunity to reload or add to core long positions. The 6835 area remains a key buy level if the market sells off on headline or earnings risk.
 

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The macro regime still points upward: capital inflows into Bitcoin, strength in Copper, and a declining VIX all support a bullish bias. The yield curve also aligns with an upside view. Rate-cut expectations now price two cuts without any meaningful speculation about hikes, reinforcing the dovish sentiment and continued upside potential. Credit markets remain healthy with spreads near the lows.

The primary concern is headline and earnings risk, which could trigger a deeper pullback, though in our view, such weakness would likely become another buy-the-dip opportunity. With the market near record highs, any regime shift could bring volatility, so monitoring incoming data is essential. The recent jobless claims showed some softening, which further supports the dovish path and increases the likelihood of buying scenarios developing.

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