ATTEMPTED DIRECTION: BUYER or SELLER
1) Rotation Buyer
2) Range Extension Buyer
3) Public went home as a… Neither
4) Buying-Selling Tails Both
5) Open in Bull or Bear Range Buyer
ATTEMPTED DIRECTION: …Bullish
Comments: This shows a mildly bullish bias with a “normal variation” profile.
1) Today’s ES volume compared to prior day & 5-day average
Today (1.095 million) … HIGHER vs. the prior day
5-day Avg. (1.306 million) … LOWER vs. the average
2) Value Area: Higher
3) VA Width: Unchanged
COMMENTS: The VA placement was higher but unchanged vs. the previous day’s VA with slightly better volume.
Monthly Trend = Bullish
Weekly Trend = Bullish
Daily Trend = Bullish
POTENTIAL RESULTS: Consumer Sentiment data will be released 30min after the open. Oil and Nat Gas storage data will come out 10:30am and 12pm ET. FOMC Minutes will come out at 2pm ET. The ES made new record highs and formed a “p” distribution, which suggests short covering and not strong new buying and therefore could lead to weakness. But once it opens, it can only go up, right? After 2,600.00 – now what?
(HVA)Support = 2582.00 to 80.00, 2578.25 to 72.50, 2568.50 to 66.75
(HVA)Resistance = 2597.25 to 98.75 … 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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