posted 9.26 a.m. est
Pre-open Tuesday 27th April
Monday’s Value Area was higher and narrower generating less volume.
ES looks set to open below 1205 – I’ll be interested to see if ES can recover this level quickly or if it becomes resistance.
My #1 dayframe rule says “never fade the last imbalance” so that continues to eliminate the short side for me even in this timeframe.
1205 is the First Level S/R (10dy poc)
1183.50 remains Second Level Support (20dy poc)
ST target at 1225 (or just below) if reached might bring some Responsive Selling
ST sentiment: ISEE (equity only) Index came in at 232 after two days below 200. Anything above 200 is considered high and indicates lots of public bulls.
Monday’s Rydex Assets Data has been unavailable so far today.
Supporting Charts with important levels:
– USDJPY prints just below the 1/2 level at 93.60.
– EURUSD prints below 1.360 poc
– UDX prints above support band 80.15-80.30.
– TLT and IEF print below their important poc levels (91.25 and 90.50 respectively) but daily price osc is moving higher (positive momentum) and green (positive trend).
These charts are currently negative for equities.
