ES500: MARKET PROFILE Finance Sector> Banksters > FedRes
The total volume figure for the day varies between 900k and 1,000k.
For the ES500 index, the overshoot of 1200k is a strike indicator of the day.
Delta Imbalance (lower histogram)-last trading days, was on the side of buyers. And if we add the Open Interest indicator, which as many expected will be falling, but the number of open positions is increasing no matter how much we would like to the contrary.
The local key range “Contract’s core” – almost 85% coincides with the range of support that was formed during all these holidays. The level is marked MAIN AREA.
Big Trades highlighted buying activity. And combined with the stock market heat map – conclusions and scenarios are in order.
The price tag for the US stock market index is 4160.
Is that expensive or cheap at the moment?
I traded the index during the 2008 crash – I saw the index touch the 666 level. At the time it was hard to tell if that was the bottom of the market. Every day the index was falling and no one knew when it would stop.
Note the buying activity on each profile of the day, on the left side of the Delta Price scale, the buying activity on the highs of the days, also indicates that the bulls are determined.
The resistance level is marked on the slide – it is worth considering as it was formed very recently.
VolFix Company / author & trader: Mikhail Lemah