ATTEMPTED DIRECTION: BUYER or SELLER
1) Rotation Seller
2) Range Extension Seller
3) Public went home as a… Neither
4) Buying-Selling Tails Both
5) Open in Bull or Bear Range Neither
ATTEMPTED DIRECTION: …Mixed
Comments: This shows no bias with a “normal” profile.
1) Today’s ES volume compared to prior day & 5-day average
Today (1.591 million) … HIGHER vs. the prior day
5-day Avg. (1.023 million) … HIGHER vs. the average
2) Value Area: Overlapping-to-higher
3) VA Width: Narrower
COMMENTS: The VA placement was overlapping-to-higher but narrower vs. the previous day’s VA with better volume. Most of the volume was to the sell side & the VA width was weaker — slowing?
Monthly Trend = Bullish
Weekly Trend = Bullish
Daily Trend = Bullish
POTENTIAL RESULTS: Chicago PMI data will be released 15min after the open. Nat. Gas data will be released 60min after the open. The ES went higher, but reversed early with the extremely weak NQ, which shows that it’s slowing. If the NQ reverses, however, watch fo the ES to rally again & the YM go for 24,000.
(HVA)Support = 2602.00 to 00.50, 2598.75 to 96.75, 2582.00 to 80.00
(HVA)Resistance = 2623.50 to 27.00 … 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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