Just wanted to exhibit a snapshot of my hide at the fourth dimension I decided nosotros were due for a movement upward inwards the ES futures. It's a Market Delta screen, amongst the five-minute footprint nautical chart showing (within each bar) book at the bid vs. book at the offer. The green/red histogram columns at the bottom of the nautical chart display the *net* book at bid vs offering for each fourth dimension period.
Notice how nosotros run across rising bottoms inwards the cerise histogram every bit the forenoon progresses. Price is moving lower, only on less cyberspace selling pressure. This same reduced selling pressure level was evident inwards the NYSE TICK.
From the vertical histogram at the correct side of the page, nosotros tin run across how book was bunched upward betwixt 814 in addition to 815 inwards the ES contract, every bit I noted inwards my Twitter post. H5N1 breakout from that constricted attain was saltation to live on significant, every bit traders leaning the incorrect agency would convey to cover. In the illustration of an upside move, that suggested that nosotros could movement to a higher house the opened upward in addition to exam the lower terminate of Monday's trading attain every bit initial upside targets.
Combine the to a higher house observations amongst the fact that nosotros had sectors, such every bit XLF, bucking the weakness from the opened upward in addition to you lot tin run across where a adept reversal movement came from. It's putting all these components into a coherent marketplace painting exhibit that delivers the adept trade.
(Note: The cerise trace of piece of employment is something I'm playing with: VWAP calculated from the kickoff of the prior twenty-four hours at 15:30 PM CT; I was toying amongst that every bit a minimum target percentage every bit well).
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