Pre-open Wednesday 22nd July
Tuesday’s Value Area was overlapping/higher and wider on increased volume. After selling off from a higher open, price probed briefly below Monday’s Value Area before rallying strongly. At the close there was no resulting imbalance to mark. There’s been no Significant Selling for ten days now.
Monday’s controlling price at 943 was also the c/p on Tuesday – now an important dayframe reference point = First Level S/R. Note: pre-open low is ES 943.5, dayframe bulls would want to see 943 hold. I will not initiate new longs below 943.
