SP500 emini pre-open Thursday 16th July

posted 9.24 a.m. est

Pre-open Thursday 16th July

Back on Friday 26th June I wrote >>The most recent imbalance is Buying (green) and according to my rules that should eliminate the short side for me until Significant Selling (red) is marked. Personally I will be struggling to obey my own rules and not short this thing if it sticks its head above 930 <<

Here we are three weeks later and I “feel” the same way. But the imbalances “tell” me that Buyers have been active since early on Monday and Significant Buyers were active again on Wednesday, aggressively auctioning price higher (green at top).

Comments highlighted in blue are very relevant – see graphic.