Both Significant Buyers and Sellers have been active this week. Actually on alternate days. This seemingly unusual activity is understandable in the area of an important poc because both parties see opportunity. To my mind a poc is a level representing value, i.e. Buyers see it as an area to Buy and Sellers see it as an area to Sell and a tug-of-war takes place. Time is spent and value, i.e. the poc, builds. The implications of the red and green imbalances are therefore less reliable close to a poc until one side “wins”. For now there is encouragement for ST Bulls. The Value Areas this week have, more or less, been generated above the 1644.50 poc and Aggressive Buying (green-at-top) has now been marked above that level. Price below this proven level would obviously be a negative.
