posted 9.28 a.m. est
Pre-open Friday 18th September
On Thursday ES tested the previous day’s Green at Top – up to just above 1070 (a resistance level mentioned pre-open yesterday) and Buyers Responded (red at top). That’s the first time I’ve marked Significant Selling activity since the low early in the month. Thursday’s Value Area was overlapping/higher and wider so this is not yet Effective Selling.
Thursday’s Selling Imbalance eliminates the long side for me at least until Buyers are marked again. And I would not consider even a speculative short position unless ES prints below today’s First Level S/R which is at 1063 – speculative because there has been no Effective Selling yet.
