Let’s start with a couple of the indices. ES - S&P futures - Daily chart: Impressive bounce after the Daily VPOC take out , remember, this is what I hinted at with a higher than expected CPI report re the VPOC takeout. So, now what? Well, it doesn't get easier with overhead supply up at the Oct Value Area bottom of Value 3746 which lines up with the 20d MA. A support area to watch is the 5d EMA which price got over and further down will be that VPOC take out 3556. / 1hr chart: Price rallied up to the the bottom if this week's Value Area, watch 3696.5 as 1st level of resistance to watch (seond chart)
Market Observations & Charts
Market Observations & Charts
Market Observations & Charts
Let’s start with a couple of the indices. ES - S&P futures - Daily chart: Impressive bounce after the Daily VPOC take out , remember, this is what I hinted at with a higher than expected CPI report re the VPOC takeout. So, now what? Well, it doesn't get easier with overhead supply up at the Oct Value Area bottom of Value 3746 which lines up with the 20d MA. A support area to watch is the 5d EMA which price got over and further down will be that VPOC take out 3556. / 1hr chart: Price rallied up to the the bottom if this week's Value Area, watch 3696.5 as 1st level of resistance to watch (seond chart)