posted 9.28 a.m.
Pre-open Tuesday 1st December
You can see more than one day-session gap over recent days in this erratic market. You’ll also notice they have been filled so maybe yesterday’s will too. Either way I’m not considering short side (see Tuesday’s comments) until I mark Significant Sellers. My Rydex indicators tell me the mutual fund switchers are very cautious about being long here which is supportive higher and ES trades above the 1088.5 poc which is also a positive (1088.5 is very close to the centre of the price range from the 11/16 high so it’s a doubly important level).
Overnight activity has lifted the poc for this range (3weeks) to 1108. That’s the reference level for today. If ES can hold above 1108 early in the session that’s a sign of further strength. If not then that gap will probably get filled.
