ATTEMPTED DIRECTION: BUYER or SELLER
1) Rotation Seller
2) Range Extension Both
3) Public went home as a… Seller
4) Buying-Selling Tails Seller
5) Open in Bull or Bear Range Seller
ATTEMPTED DIRECTION: Bearish
Comments: This shows a bearish bias with a “double distribution” profile.
ATTEMPTED PERFORMANCE:
1) Today’s ES volume compared to prior day & 10-day average.
Today (1.356 million) …HIGHER vs the prior day.
5-day Avg. (1.328 million) …UNCHANGED vs the average.
2) Value Area: Overlapping-to-lower
3) VA Width: Narrower
COMMENTS: The VA placement was overlapping-to-lower but narrower vs. the prior day’s value area on better volume. Sellers led buyers by 2.40%.
Monthly profile = Bullish
Weekly profile = Bullish
Daily profile = Bearish
POTENTIAL RESULTS: Janet Yellen speaks to Congress 30min after the open. Market structure and volume were bearish Tuesday and should continue if Janet Yellen doesn’t surprise with new bullish comments.
Support = 1866.00 to 61.75, 1849.50 to 45.75, 1839.00 to 35.50
Resistance = 1870.00 to 75.00, 1887.00 to 93.00, then none
Please use the pivot calculator in the “shared folder” for all of today’s pivots.
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