the market-depth of SPX500 (Furtures) is showing strong absorption at the bottom of the range.
So far the biggies were able to take liquidity whenever there was a bunch of volume coming in trying to push price down below the support-zone.
This is a strong evidence of a reversal! The only concern is we are still close to the daily Point-of-Controle which is usually a NO-TRADE-ZONE for me as institutional traders are doing their business there.
Either wait for price to move away from it or take the risk and be patient until price moves away (higehr risk involved).
I`m already long as this is a very likely scenartio with high risk-reward.
LEAVE A LIKE AND A COMMENT - I APPRECIATE EVERY SUPPORT!