As expected yesterday the morning session had a positive tone, which gave way to strong selling late afternoon. $SPY close down 1.03%.
However, bulls are unfazed and $ES futures are pointing to about 1.2% higher open.
Bulls are smelling victory seeing the resistance level so close but have been frustrated the last two days.
$ES futures inventory is almost 100% long in the ON session. A strong liquidation break to the downside is a strong possibility in the morning session.
However, bulls are unfazed and $ES futures are pointing to about 1.2% higher open.
Bulls are smelling victory seeing the resistance level so close but have been frustrated the last two days.
$ES futures inventory is almost 100% long in the ON session. A strong liquidation break to the downside is a strong possibility in the morning session.