Profile levels:
Composite profile values, prev 10 sessions: VAH: 18,865; VAL:18,619; POC: 18,733
Composite profile values, prev 5 sessions: VAH: 18,828; VAL:18,685; POC: 18,783
Previous RTH: VAH: 18,923; VAL: 18,840; POC: 18,893; tPOC range: 18,750
Post RTH/Overnight: VAH: 18,943/885; VAL: 18,904/863; POC: 18,923/877; tPOC range: 18,745
Prev/VWAP: 18,830/912
OVERNIGHT LEVELS: O: 18,875; H: 18,980.50 (050041hrs EDT); L: 18,833.50 (200045hrs EDT)
PREV SESSION LEVELS: O: 18,684; H: 18,926; L: 18,680; C: 18,876
The consolidation at new highs continues. From a big picture perspective, price continues to trend above the short-term moving averages, this lends itself to a bullish intraday bias. Presently, price finds itself at the midway point of the range for the session so far, given the holiday break up; 18,833.50 through 18,980.50. The point of control (POC) for the session is 18,915.75 and is the present center of activity. VWAP is at 18,912; price keeps finding a bid at VWAP. On a 21range chart, price is below the 34ema, along with the long-term moving averages. The POC and VWAP are providing support for price, from a technicals pov.
For today’s plan, the NY pre-open range of 18,910 through 18,930 is today’s no-man’s land. We will take price action above 18,930 as bullish, and price action below 18,910 as bearish, for the session. Price targets below are at the 750 area. Price targets above are in discovery mode; as such, use stops or moving averages to keep you in the trade. You always want to be comfortable in the trade.
