The importance of the 4824 level lies in the fact that it corresponds to where sellers entered during Friday's PM session. This suggests it's a critical area for sellers to hold for a potential downside continuation while avoiding a squeeze (stops > 4824). The reaction within this area during the overnight session (ONH: 4823) is not surprising due to the trapped buyers.
Is true that last Friday 4824 level was touched many times.
I would say that taking the macroeconomic and fundamental analysis into consideration only the Q4 sales can influence slightly negatively the ES_F.
Geopolitical stress and its repercussions in real economy via higher costs of goods transportation and energy products. i.e. higher inflation rates is another factor that could be negative for quicker rise of ES_F and SPX.
■ Back to your work, I would like to say that your Smashlevel becoming far more informative, important and significant when you add a VIX level for it.
Would be very helpful to let us know , couple of times per week, Smashlevel's VIX level too.
Thank you, buddy! Although it is a shorter day tomorrow, let's try to make some green.
love your analysis broski thankyou from all the beginner noobs!
hi Smashelito
why 4824 is important level its not in value area.
The importance of the 4824 level lies in the fact that it corresponds to where sellers entered during Friday's PM session. This suggests it's a critical area for sellers to hold for a potential downside continuation while avoiding a squeeze (stops > 4824). The reaction within this area during the overnight session (ONH: 4823) is not surprising due to the trapped buyers.
Really good points. Thanks.
Is true that last Friday 4824 level was touched many times.
I would say that taking the macroeconomic and fundamental analysis into consideration only the Q4 sales can influence slightly negatively the ES_F.
Geopolitical stress and its repercussions in real economy via higher costs of goods transportation and energy products. i.e. higher inflation rates is another factor that could be negative for quicker rise of ES_F and SPX.
■ Back to your work, I would like to say that your Smashlevel becoming far more informative, important and significant when you add a VIX level for it.
Would be very helpful to let us know , couple of times per week, Smashlevel's VIX level too.
Thanks Smash.
First 15' and ES_F holds at ~ 4808. That's a good sign for the buyers , aiming 4822 - 3836.
Do you have any estimation for Smashlevel's VIX levels?