ATTEMPTED DIRECTION: BUYER or SELLER
1) Rotation Neither
2) Range Extension Seller
3) Public went home as a… Neither
4) Buying-Selling Tails Seller
5) Open in Bull or Bear Range Seller
ATTEMPTED DIRECTION: …Bearish
Comments: This shows a mild bearish bias with a “normal variation” profile.
1) Today’s ES volume compared to prior day & 5-day average
Today (0.705 million) … LOWER vs. the prior day
5-day Avg. (0.927 million) … LOWER vs. the average
2) Value Area: Outside
3) VA Width: Wider
COMMENTS: The VA placement was outside and wider vs. the previous day’s VA with extremely low volume.
Monthly Trend = Bullish
Weekly Trend = Bullish
Daily Trend = Bullish
POTENTIAL RESULTS: No economic data will be released after the open; however, Kashkari of the Fed speaks 30min after the open. Developments out of Spain could move the markets today as well.
(HVA)Support = 2536.50 to 34.25, 2532.00 to 30.25, 2505.50 to 02.00
(HVA)Resistance = 2543.50 to 49.25 … none
* Indicates important “chart levels” that are not HVAs.
Please use the pivot calculator in the “shared folder” for all of today’s pivots.
… Follow @NoteFromThePit for important tradable news tweets!
IMPORTANT NOTICE: Futures and Options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. Nothing in our website shall be deemed a solicitation or an offer to Buy/Sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of future results.
DAY TRADING involves high risks and YOU can LOSE a lot of money. These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown.