ATTEMPTED DIRECTION: BUYER or SELLER
1) Rotation Buyer
2) Range Extension Neither
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 “neutral” profile.
1) Today’s ES volume compared to prior day & 5-day average
Today (0.412 million) … LOWER vs. the prior day
5-day Avg. (0.868 million) … LOWER vs. the average
2) Value Area: Higher
3) VA Width: Narrower
COMMENTS: The VA placement was higher but narrower vs. the previous day’s VA with lower volume in the ½-day.
Monthly Trend = Bullish
Weekly Trend = Bullish
Daily Trend = Bullish
POTENTIAL RESULTS: New Home Sales data will be released 30min after the open. Given the holiday closure and ½-day Friday, it’s difficult to assess how the market will start the week. Unless the Asian or European markets are very weak, it should continue even higher.
(HVA)Support = 2598.75 to 95.50, 2582.00 to 80.00, 2578.25 to 75.25
(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.
… 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.