Pre-open Friday 23rd October
As expected we got the test of Wednesday’s day session low but Buyers responded immediately (green-at-bottom) and auctioned ES quickly higher. Even so, Thursday’s Value Area was lower and wider which means that neither the performance of the Buyers or Sellers is convincing.
Hi-Lo Range of the week so far is low compared to average which suggests range extension higher or lower is a strong possiblilty. With ES currently printing at 1093 a test of the 1099 high looks the most likely event.
pre-open comment Tuesday sums it up
>>A test above 1100 is likely and maybe that will bring some response from the Significant Sellers …I would want to see price accepted (value area) above 1100 before initiating new longs. Not interested in the short side until Effective Selling is marked.<<
