EOD-JUL-08-2018

1) Top down multiple time-frame analysis

a)  Daily Chart

Broader daily chart is in a range from Feb 2018 ( 2575 – 2800 ).  We may see a retest of the Range High in the coming weeks.

ES-Daily-July08-18

 

Weekly chart exhibiting volatility contraction.

ES-Weekly-July08-18

 

b) 60 min chart

60 min chart popped out of the 2745 range and stepped into the 2750 – 2800 range.

ES-60Min-July08-18

c) 15 min chart

d) 5 min chart

5 min is spotting an uptrend after popping out of the 7 day range high 2745-2747.75

ES-5Min-July08-18

2) Key Reference Areas

a) Buying and Selling Tails

b) Range Extremes

c) High Volume Node  (Horizontal Volume)

VP-0708-18

d) Launching points of directional conviction (Vertical Volume)

3) Economic Calendar

No Market moving economic news scheduled for this week.

4) Volatility and Volume environment 

a)10 day ATR is at 31 points. This has been holding steady for lat few days.

b) Volume

5) Pre-market Conditions for Trend Day

a) Mature Balance

b)Volatility Contraction

c) Large GAP thru Key Reference Areas

d) Market moving economic release

e) Generally elevated volatility environment

5) Scenarios

 

Zunaa Specific

1)  High Volume Zone

2) Value Area Reversal (Higher Value Failure Reversal / Lower Value Failure Reversal / Value Area Engulfing Reversal )

Posted in EOD Analysis