Market Preparation, 9th November 2018
Futures Market – ES (S&P500 E Mini)
Projected Open – Just outside of range, outside value with approx. 15 point gap down.
O/N High – 2811.25 O/N Low – 2789.50 yMID – 2805.25 yClose – 2808.75
yVWAP – 2806.75 yVAH – 2812.75 yVAL – 2804.25 yLow – 2795.00
yHigh – 2815.25 NVPOC – 2809.50 NVPOC – 2843.75
Upside Levels 3*
- 2808.75 – NVPOC and gap fill from O/N.
- 2804.50 – yVAL, Open, IBL area.
- I like that this is a test of value from yesterdays session.
- Be aware that 2801.50 was a respected target from yesterday.
- 2816.50 – Wed/Thurs O/N Gap close to upside.
- This was also the open gap that closed at the end of the session Wednesday, 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*
- 2791.00 – The longest VPOC from Wednesday. Only shifted late in the day.
- Note that this level is also just below 2793.50 which is a single print/LVN from Wednesday and the O/N low is just below at 2789.50.
- 2774.25 – Wednesday low and IBL.
- 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.
- Sideways action potential, eyes on getting back into range. Yesterday is inside day. Opening below/on the lows.