Profile levels:
Previous RTH: VAH: 18,708; VAL: 18,566; POC: 18,689; tPOC areas: 18,594, 678 & 726 (3 levels fit this criteria)
Post RTH/Overnight: VAH: 18,733; VAL: 18,711; POC: 18,723
VWAP: 18,721
OVERNIGHT LEVELS: O: 18,696; H: 18,738.75; L: 18,706
PREV SESSION LEVELS: O: 18,402; H: 18,707; L: 18,393; C: 18,691.75
With an ONL at 18,687.50 ONO at 18,696.00 the market has traded north since the opening of the overnight Globex session. Meaningful pullbacks have only occurred to what is presently the VAL of 18,712. With an extreme local low made at 18,706 (0200hrs EDT), the pre-London open; additionally, the ONL happens to coincide with the RTH VAH of 18,708 and the prev session High of 18,707.
Today’s plan is to buy dips above the previous RTH VAH area of 18,700. Otherwise, we’re selling rips down to the temporary POC at 18,678 area. Watching for reaction at this if price touches this area.
If price continues north, then we’re looking for breaches of the ONH, 18,735 area. If prices breach the temporary POC area, then we’re looking for price to trade within yesterday value areas. Note that the tPOC of 18,678 almost coincides with the prev RTH POC at 18,689 and the prev session’s close of 18,691.
Profiles over the past five session show a breakout of range, and with the VIX <13, this move could be something to try to hold onto until it ends.
