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Value Areas and POC figures for /ESH8 and /NQH8 Futures are posted free every morning HERE. Click on any posts in the list on the left pane to see them in the main window. Don’t click on the ST logo as it will just refresh the page and you’ll get only the topmost post over and over. Click on the title or text.
The RTH distribution from yesterday and the overnight is so stretched out that it’s impossible to take a snapshot of the whole thing. Thus I’ve taken only the overnight session with a bit of the lower end of yesterday’s RTH range.
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There is actually little to say here due to volatility being so elevated right now. When the market is in the grips of panic type fear there is little rationality and levels that were thought to be “safe” are not.
The RTH low from yesterday is the key upside reference. We’ve had a few passes back and forth into yesterday’s range overnight. This level at 2601.75 will be important today. Obviously there is more impetus for traders to cover shorts if prices are above rather than below this level.
Overnight inventory is all over the place and I would say only slightly net short.
2582.50 and 2568.50 are the only VPOC’s left on my list. Depending on how we trade today, I’ll clean up the chart and take off those annotations in purple you see above that have been traded through.
Use extreme caution today when trading futures. If you are not a “seasoned vet” you may want to consider another style of trade. The volatility can be very enticing but if you don’t have the experience to navigate it, then it can be deadly.
Have a great day,
peter
PS: ShadowTrader is hosting James Dalton for a FREE webinar tomorrow at Noon EST. We’ll be sending out an email later today with a link to enter.
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