ATTEMPTED DIRECTION: BUYER or SELLER
1) Rotation Buyer
2) Range Extension Buyer
3) Public went home as a… Neither
4) Buying-Selling Tails Neither
5) Open in Bull or Bear Range Neither
ATTEMPTED DIRECTION: …Mixed
Comments: This shows no bias with a “normal” profile.
VOLUME & VALUE AREA:
1) Today’s ES volume compared to prior day & 5-day average
Today (1.093 million) … HIGHER vs. the prior day
5-day Avg. (1.040 million) … HIGHER vs. the average
2) Value Area: Higher
3) VA Width: Unchanged
COMMENTS: The VA placement was higher but narrower vs. the previous day’s VA with better volume. This is normally bullish, but a good deal of the volume came in late when the ES was FALLING.
Monthly Trend = Bullish
Weekly Trend = Bullish
Daily Trend = Bullish
POTENTIAL RESULTS: No economic data will be released after the open; however, James Bullard of the Fed will speak at 1:30 pm ET. Oil storage data comes out 60 min after the open.
It’s still trending higher, but slowing a bit.
(HVA)Support = 2747.50 to 46.25, 2742.75 to 40.00, 2726.50 to 23.75
(HVA)Resistance = … none
* 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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