ES Daily Recap | March 31, 2023
Have a great weekend everyone!
Following Wednesday's directional move away from value, the market reached an area of prior balance today at the familiar level of 4130 - The Weekly Extreme High.
The afternoon pullback low is a powerful setup when conditions align.
True upside gap left unfilled
ON High breached
IB breached
Higher value
OTFU intraday
Single prints
Trapped sellers = Fuel for an upward continuation.
Previous Plan
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Thank you for your work, I am learning a lot.
I am curious which software you use. Are these charts from Motivewave?
Man Bears totally melted by that Delta.
You'd think Delta would be getting expensive after so much action upward. But in retrospect March '22 moved 500pts while March '23 moved 300pts. That doesnt play into the Delta today but I do wonder if options expiration somehow diluted available contracts?