posted 9.30 a.m. est
Pre-open Thursday 5th November
All previous comments reproduced here are relevant. 1038.50 remains First Level S/R. Overnight ES probed down to that level (1039) and rallied, currently pre-open testing Wednesday’s poc at 1052.5.
Dayframe: I have not marked Significant Buying or Selling for three consecutive days. I have seen that pattern ten times this year and only once was that extended to four days. That would suggest that either the Significant Buyers or Sellers are likely to be marked today. If Sellers do not respond early in the day and ES holds above 1052.5 (Wednesday’s poc) early in the session then it will most likely be the Buyers that will be marked. If Sellers do respond early and ES cannot hold above 1052.5 then I would expect weakness in the dayframe that will most likely extend through the end of the week.
Longframe: I’ll go with Buying above 1063/64 or Selling below 1038.50.
