posted 9.26 a.m. est
Pre-open Tuesday 23rd June
Monday’s First Level S/R (907.5) was the high. I wrote previously that any Significant Selling marked below this level would indicate lower prices to come and confirm the trend as down. That’s what we saw yesterday and it was Effective Selling (lower, wider Value Area) so it confirms that Sellers are in control of the dayframe.
Stats suggest there is a 70% chance that Monday’s day session low at 887.75 will be tested during Tuesday’s day session – based on the aggressive selling (red at bottom) on Monday.
Last imbalance was down (red) so I cannot look for long position.
