Additionally, the final upside (4792) and downside target (4709) for tomorrow are very important, given how they represent clear inflection points. As always, monitor the VIX levels for potential clues should either target get reached.
Why do you think there is a support area from 4735 and 4725? It’s right in the middle of the gap up from Dec 14th, is there a volume node there over a longer timeframe?
I consider this area significant for a couple of reasons. Firstly, it marks the lower end of Wednesday's (FOMC) upper distribution, a critical area that buyers typically aim to maintain when forming a double distribution. Additionally, the session's halfback is situated at 4730, and the previous week's VWAP closed at 4733, providing additional confluence. While I anticipate at least a reaction from this area, the question remains whether it will ultimately hold. As I mentioned, I don't think buyers are in any trouble as long as the FOMC breakout remains intact—trouble starts to kick in with acceptance below 4709.
Additionally, the final upside (4792) and downside target (4709) for tomorrow are very important, given how they represent clear inflection points. As always, monitor the VIX levels for potential clues should either target get reached.
Caught a short from 4792, risk-free runner left! Awesome work!
Thank you buddy. Great as always. Have been green again today same as yesterday, but I liked the opportunity to the downside.
Why do you think there is a support area from 4735 and 4725? It’s right in the middle of the gap up from Dec 14th, is there a volume node there over a longer timeframe?
I consider this area significant for a couple of reasons. Firstly, it marks the lower end of Wednesday's (FOMC) upper distribution, a critical area that buyers typically aim to maintain when forming a double distribution. Additionally, the session's halfback is situated at 4730, and the previous week's VWAP closed at 4733, providing additional confluence. While I anticipate at least a reaction from this area, the question remains whether it will ultimately hold. As I mentioned, I don't think buyers are in any trouble as long as the FOMC breakout remains intact—trouble starts to kick in with acceptance below 4709.
Thanks for confirming! That comment is useful. Read it at 04.00' hr EET Europe time and went long ES_F at 4760.
The more information you are writing the more confident we're in our trading decisions. Have a great Thursday.
The break was 4810 balance area support for me
Fantastic stuff smash!
Thanks buddy!
As always, fantastic analysis and write up. Thanks!
Appreciate it!
Thanks Smash. 🙏🏽