Best Stock Hints Latest Tips To Buy & Invest Best Stocks Today
Value Areas and POC figures for /ESM8 and /NQM8 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.
WWW.WINDOTRADER.COM/SHADOWTRADER
Last four sessions (two RTH, two overnight) are all almost identical. Market is in balance. Note also how last two RTH lows are equal. Visual, mechanical references telling us that shorter term traders are pushing prices around in a small range.
The RTH high and low of yesterday’s session are the upside and downside references coming into today’s trade given that yesterday’s range is slightly larger than the prior one.
Taking out the double bottom of the last two sessions at 2711.00 puts the 5/15 low back in play at the 2700 area. Remember that we turned just above a gap fill at that key level recently.
On the open, overnight inventory is quite net long even though we are currently gapping down about 5 points in the S&P futures. If early trade cannot get a foothold lower, expect possible rotation back to the settlement and POC which are at very similar levels.
Overall the market is in balance between the 61.80% Fib and the 50% Fib level that I’ve been discussing.
Have a great day,
peter
Source link
