Pre-open Wednesday 5th August
As the stats suggested Monday’s high was tested. We have the same expectation for today (Wednesday) because Significant Buyers were marked twice on Tuesday.
Intraday oscillators are showing some negative divergence with the price action so maybe ES will set back after an early test of Tuesday’s high but that’s an “maybe” and nothing I would want to try and take advantage of. Overnight ES found support at 999 which was Tuesday’s controlling price. That’s bullish in the very short term.
This is clearly still Buyers in Control and the market hasn’t auctioned high enough to find a response from the Significant sellers. Twenty days now since Significant Sellers were marked.
