Market Preparation, 8th November 2018
Futures Market – ES (S&P500 E Mini)
Projected Open –
O/N High – 2818.00 O/N Low – 2801.50 yMID – 2796.00 yClose – 2816.50
yVWAP – 2796.00 yVAH – 2803.75 yVAL – 2774.75 yLow – 2774.25
yHigh – 2817.50 NVPOC – 2791.00 NVPOC – 2843.75
Upside Levels 3*
- 2816.50 – O/N Gap close to upside.
- Note that the O/N high is 2818.00 slightly above this level. This was also the open gap that closed at the end of the session yesterday, from 17th October. VPOC shifted late in the session yesterday to 2814.00, be aware of this on a fail of the complete gap close.
- 2819.25 – Weekly high from two weekly bars ago. This is the prior recovery highs.
- Same day VAH is 2817.50 with the daily high at 2819.25.
- 2843.75 – Naked VPOC from October 10th. Next logical level above prior recovery highs.
- Note a single print at 2850.50 that needs repair, above the NVPOC level mentioned.
Downside Levels 3*
- 2801.25 – A very nice level. LVN, Single Print and the O/N low.
- This also coincides with the IBHE from yesterday and is a test of yVAH area.
- 2791.00 – The longest VPOC from yesterday. Only shifted late in the day.
- Note that this level is also just below 2793.50 which is a single print/LVN from yesterday.
- 2774.75 – yVAL and 2 ticks from yLow.
- This would also put us looking into the gap zone.
- 2759.25 – Gap from Tuesday night.
- Note that 2770.00 is 50% of the gap. Also note that the Wednesday low is at 2774.25.
- From 2820.00 to 2840.00 is a relatively low volume area that does not show many significant levels. Price may want to discover this area and build some volume here.