A used floor is still a floor. The close is not a buy.

Desk Note · 30 Aug 2026
As of Friday, August 28.

Alphabet is the closest name on our list. Last Friday it closed at 346.59. That is not a cheap area we already marked. The cheap area is 330 to 340. Last week’s low came into that zone. The week still closed above it. We watch. We do not chase 347.

QQQ closed at 716. Last week’s low stayed above 680. So the list is allowed to work. That is not a reason to buy Alphabet in the middle of the range.

Buy zone: 330–340

Why this buy zone? Price has already used it.

This week’s weekly low was 338.52. That print sat inside 330 to 340. Thursday’s daily low was 338.52. August 20 also printed 338.56. Friday’s daily low was 340.27. It touched the top of the zone and left.

This is not a new idea. Alphabet has come back to this band many times this year. We count twelve weekly visits. A used floor can still be a floor. It is not a first visit. So we wait for the stock to come back. We do not buy because 347 is close.

The bottom of the idea is 330. If that old floor breaks, we are done with this idea.

The weekly chart

Weekly · 2 years · cash close Friday 28 Aug · IBKR

The weekly chart is the first read.

Last week: high 351.60, low 338.52, close 346.59. The low overlapped 330 to 340. The close sat 1.9% above 340.

The last twelve weeks run from 314.93 (July 24) up to 384.48 (August 5). 384.48 is also the expensive print. That band already tagged this month. It is old supply, not a new target we invented on Sunday.

From here, the week is sitting on a used floor. Sitting is the work. A close at 347 does not fill 330 to 340.

The daily chart

Daily · 6 months · from 23 Feb · cash close Friday 28 Aug · IBKR

The daily chart is the second read. It should agree with the week.

Friday tagged 340 and left. Close 346.59. The last two weeks of days have been living on top of the buy zone, not inside a first-touch. August 24 made a short-range high at 351.60. August 27 made the short-range low at 338.52.

Between 338 and 351 is not a cheap area. Between is where we wait. The daily did not write a new floor at 347. 347 is the last print.

Sell zone: 378–384

Why this sell zone? Price already stalled there.

On August 5 the weekly high was 384.48. That is the top of the expensive area we already marked, 378 to 384. It tagged. Then price came back down toward 330 to 340.

If buyers ever show up again in 330 to 340, 378 to 384 is the area we look to sell into. It is an old high. It is not a hope.

Call: WATCH

We are watching whether 330 to 340 stays a floor. We are not buying 346.59.

Cash is still the position. No name on the list closed inside a cheap area on Friday. Alphabet is the closest. Closest is not filled.

Forecast

Two paths. Four to eight weeks. Not a promise.

If Alphabet comes back to 330–340 and holds. The next old high is 384. That is the 12-week high from August 5. The sell zone is 378 to 384. That band already tagged this month.

If it does not come back. Last sits 1.9% above 340, in the 338 to 351 range. It can drift toward 351, then toward 378 to 384. Or it can fall back into 330 to 340. Either way, 347 is not the buy.

The idea is wrong under 330. The close is not a buy.

NFA