Here's a follow-up to the nautical chart shown inwards this morning's briefing. You tin encounter that nosotros traded dorsum toward yesterday's depression inwards the ES futures, bounced significantly higher dorsum into Tuesday's range, in addition to forthwith convey consolidated close the day's VWAP (red line) around 1106.25. So far, Midweek has been trading within Monday's range, every bit did Tuesday. As of my well-nigh recent count, eighteen stocks inwards my handbasket convey traded upward from the open, 22 down. Financial issues convey been relatively strong; we've seen relative weakness alongside raw materials shares, tech stocks, in addition to pocket-sized caps. We tin every bit good encounter mixed view inwards the remainder of book trading at offering vs. bid (bottom histogram) in addition to inwards the NYSE TICK.
The ES 1110 score represents of import resistance; 1100 represents near-term support. I am watching intraday view in addition to leading sectors (large caps) for indications regarding the eventual interruption out of this trading range.
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