Market moved down overnight but then went nowhere today - Looking at the chart I'd we're actually going to move up.
I never use the TTM Squeeze Indicator - by John F. Carter but it does demonstrate how we had compression today of Bollinger Bands and Keltner Channels.
We right between two Virgin Naked Points of Control - this no accident, designed to confuse and perplex retail I'm sure.
Felt like the algos were selling the market as soon it started to move up - perhaps accumulation. Over 2 Million ES contracts and 1.65 MM one MES so good volume for sure.
The ETH (overnight session) will be right on top of today Point of Control - so this will not give us any clues.
We still at the top of channel I posted the other day. So we may end up with small move up and dump further down.
So up first but be careful out there.