Pre-open Wednesday 9th December
The options ratios and Rydex assets data have not indicated an increase in fear among the smaller traders this week. That usually means more downside but the 1088.50 poc has so far provided support (a.m. low Tuesday was 1087.75 and p.m. low was 1088.50) and this is the reference level again today.
If ES fails to hold above that level early in the session then the next important support at 1063/64 becomes a target.
The last imbalance was Selling (red) and that eliminates the long side for me until Buying (green) is marked.
