ATTEMPTED DIRECTION: BUYER or SELLER
1) Rotation Buyer
2) Range Extension Both
3) Public went home as a… Buyer
4) Buying-Selling Tails Neither
5) Open in Bull or Bear Range Buyer
ATTEMPTED DIRECTION: …Bullish
Comments: This shows a bullish bias with a “trending” profile.
VOLUME & VALUE AREA:
1) Today’s ES volume compared to prior day & 5-day average
Today (1.119 million) … LOWER vs. the prior day
5-day Avg. (1.421 million) … LOWER vs. the average
2) Value Area: Overlapping-to-higher
3) VA Width: Wider
COMMENTS: The VA placement was overlapping-to-higher and wider vs. the previous day’s VA with TERRIBLE volume.
Monthly Trend = Bullish
Weekly Trend = Bearish
Daily Trend = Bullish
POTENTIAL RESULTS: New home sales data will be released 30min after the open. The market ended the week with a ridiculously low-volume ramp higher. Unless something out of the blue happens, this should set up the market for smooth sailing above 2750.00.
(HVA)Support = 2740.50 to 38.75, 2720.00 to 12.00, 2699.00 to 97.00
(HVA)Resistance = 2759.75 to 62.00, 2822.25 to 24.25, 2825.75 to 29.00
* Indicates important “chart levels” that are not HVAs.
Please use the pivot calculator in the “shared folder” for all of today’s pivots.
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