posted 9.00 a.m. est
Pre-open Monday 31st August
Last week I marked three instances of Significant Selling and two instances of Significant Buying so there is currently a lack of directional conviction with any move away from the current controlling price at 1026.5 attracting selling from above and buying from below.
As noted on Tuesday, price above 1035 is being rejected and that happened again on Friday. Acceptance into that area would be bullish.
1026.5 is now doubly important as it is also the the 1/2R from Tuesday’s high. Pre-open ES prints below that level at 1020.5.
I’m looking for Effective Buying above or Effective Selling below 1026.5 as the big clue re the next directional move.
