Here's an updated Market Delta nautical chart of today's activity inward the S&P 500 Index (ES) futures. Overall, buying pressure level has exceeded selling pressure level (bottom histogram), together with nosotros convey been edifice value higher on the solar daytime at the 986.50 to 988.50 expanse (side histogram). The volume-weighted average cost (red line) has been rising, together with we've been trading inward a higher house that grade during the afternoon.
The recent tweet noted, "1:32 PM CT - TICK continues positive; fresh ES high non confirmed together with then far past times Russell, XLF, XLY, XLP."
We tin laissez passer on the sack encounter inward the latest bar that the marginal high inward ES, which was non confirmed past times many sectors, ended upwards attracting fresh selling pressure, returning us to that afternoon value area. It's a prissy example of how tracking crusade across sectors tin laissez passer on the sack illuminate moves inward the broader marketplace index. If, indeed, nosotros cannot marshal wide buying involvement close the 990 level, I'd human face a retracement dorsum to vwap.
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