posted 9.22 a.m. est
Pre-open Monday 28th September
Last week I marked two instances of Significant Buying and one of Significant Selling.
Last week opened within the previous week’s range, tested that week’s high and closed below that week’s close. Whatever you call that kind of bar it would be rare if last week’s low is not tested at some point this week. Friday’s close was below the Monday-Wednesday range which usually indicates further weakness and has only happened twice since the March low (SP500 index).
I’m not interested in the long side unless I mark Effective Buying above 1042 (current poc). ES printing below 1042 would suggest a test of last week’s low and most likely development down to next poc support at 1023/24.
