posted 9.29 a.m. est
Pre-open Tuesday 24th November
Another Monday gap higher. The Value Area was higher and taller and generated more volume for the day but less than the 10dyma of volume.
No Significant Buying or Selling marked for seven days now. Pre-open ES is consistently printing 1106 which, if it continues, could lift the minor poc to that level from 1089 which would normally be a bullish development.
The Rydex data is not particularly bullish, the VIX is back in the low twenties and the ISEE (equity only) index came in at 205. None of that would normally help the market higher.
There’s been no obvious directional conviction for days now so I’ll use the poc 1106 as the reference and anticipate that consolidation above that level would suggest higher and an early rejection from 1106 or just above could see ES fill the gap and back to the 1089 poc.
