The Key Levels and the Bull/Bear Line in the Sand at 1095 provided a great "road map" that kept me on the right side of the market. We saw a rejection of the 1099 level, and acceptance of 1102 during the first 30 minute rotation. Following that, price pushed down to 1096.25 on the Existing Home Sales release, and Responsive Buyers came in and quickly rejected the unfair lows in the 1096.25-1098.25 area. From that point on, we continued to see acceptance of prices above 1100, with continuous rejection of lower prices (1100+ considered "fair" value). I'm anticipating this area to hold going into next week. A push below 1095 could result in liquidation and/or initiative selling. A break-out above 1113 could easily push price up to the mid 1120s.
Hope you all performed at your best this week! Have a great weekend!
ES 5-Minute Chart
ES 30-Min Volume Profile Chart
ES Day Session Volume Profile Chart
No comments:
Post a Comment
At the minimum, please provide your name or Twitter handle when posting comments. Do not post as Anonymous. Comments that contain links to commercial websites will be marked as spam.