Market Preparation, 14th November 2018
Futures Market – ES (S&P500 E Mini)
Projected Open – Inside range, just above value. +13.50 approx.
O/N High – 2744.50 O/N Low – 2711.00 yMID – 2735.25 yClose – 2727.50
yVWAP – 2733.00 yVAH – 2739.50 yVAL – 2718.50 yLow – 2714.50
yHigh – 2755.75 NVPOC – 2722.50 NVPOC – 2695.00
Upside Levels 3*
- 2755.50 – yHigh.
- Note that VWAP Month is 2752.25
- HVN 2756.50
- 2765.25 – LVN and 64.50 was Friday’s low.
- Note that 200SMA daily is currently at 2763.00, just below this level so could be magnet to some extent.
- 2779.00 – Open gap from Friday 9th Nov. Weekend gap.
- 2777.50 is yHigh just below this gap level.
- 2782.00 – NVPOC from Friday 9th November, also weekly NVPOC from last week.
- 2809.50 – NVPOC from Thursday 8th November.
- Open gap 2809.25 right at this level as well.
Downside Levels 3*
- 2727.50 – O/N Gap Close to the downside.
- Note that this is right below 2728.75 which was the Monday/Tuesday night gap and a respected area throughout the session yesterday.
- 2722.50 – NVPOC from yesterday’s trading.
- Note that this is also the VPOC for the trading range yesterday afternoon, so would be a test of VPOC in both respects.
- The MID from this range on the low is also 22.75, so an interesting area.
- 2714.50 – yLow
- This level is still above 2711.00 which is the O/N Low.
- This is also the current weeks low, just below last weeks low that has now been tested.
- 2695.00 – NVPOC from 29th October.
- Note that 2799.50 is the daily low from 2nd November.
- This would be into the gap zone which would be closed aat 2684.50. Ie it is below the lowest low and into the gap. The MID of this gap is 2698.00, just above the NVPOC at 95.00.
- The open is within range, but is right at VAL from yesterday. We will be able to look and see if value is accepted or rejected from yesterday’s session by gauging yesterdays value area.
- If we reject yesterdays value area high, we can focus on upside targets.
- If we accept yesterdays value area, be aware of the 80% rule and open to the fact the yVAL is at 2781.50 which puts downside targets in play.