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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.
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Futures mixed this morning with S&P’s holding on to a hair of gain while Nasdaq 100 are down about 13 currently. Often a good premarket indicator that the market may balance during the RTH session.
Yesterday’s low was poor and the overnight session did not take out that low, trading its entire range within yesterday’s RTH session. As of now we would be opening within balance.
Scenario one:
Remain within yesterday’s range. As the market continues to trade mechanically and visually, there should be plenty of opportunity to play responsive trades off of VAL, VAH, RTH high/low and other nuances.
Scenario two:
Sellers come in and drive prices below yesterday’s low. Seems to me that if they wanted to do that they would have already done it overnight and it didn’t work then. The RTH session is always a different beast but I’m coming into the session with the knowledge of what the overnight traders already failed to do.
Scenario three:
Buyers come into the market and the ONH is taken out and value develops higher eventually taking out the RTH high at 2703.50. This would more than likely confirm that the market wants to go at least to the downtrend line in the SPX which is roughly at 2735 now.
Have a great day,
peter
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