The FootPrint is not the Holy Grail, in fact in can be very misleading some times.
I only use it in area’s that matter – so there is no point in watching it all day for absorptions.
Gm Traders,
After AAPL numbers we advanced to 1316.50 but failed to make it to the prior ONH 1318.25 and couldn’t hold 1316.50 leading into a long liquidation showed by 100k volume drop to 1305.75 (01/23 low)
Overnight inventory was flushed already and at the moment we are establishing volume below YCL and YVPOC.
For today I am looking for a short opportunity in the Closing Swing 1308/1310.5 with a target of 1297/98 and we are wrong if we establish some decent volume above yesterday’s range above 1312. First levels on our way down are 1304 / 1302.75 and frontrunning the 1301.50 YLO
Our Pivot Point for the day is at 1307.50
Overall I am bearish for ES with target 1288/81 but FOMC will show us.
Don’t why that small menu is there -best to view Full Screen to get rid off it ….
For 2 day my main hypothesis (as mentioned yesterday) is to sell the 85/87 range with T75.50 CHVN – The CloSwingLo is 85.x and main sup/res. IF we establish volume between 85 and 87 without selling pressure I’m standing buy for a break above 89 level with a T93/96 –
thats all GL
I don’t believe market will squeeze above 1300 before we have seen a significant pullback to possible 1235/1240
My upswing target was 1293/1296 and with 1292 today we have nearly reached that goal, or the ON session has another surprise for us ? I’m looking to get short for a swingtrade with half size.
What holding me is the weird action of today’s session and volume still is 25% below 50day average.
