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Daily Review / The ES tests resting LONG inventory at support and then rallies into the close.
The ES tests resting LONG inventory at support and then rallies into the close.
Yesterday I mentioned I was looking for some range extension today and we ended up with minor range extension into support. The after hour session had the ES trading to a low of 964.00 which was just a few points below yesterday’s LOD 966.00 level. I had indexed a Delta Threshold to the 966.00 level as mentioned yesterday to watch for my Delta Volume Distribution tracking today. So we ended up with minimal range extension into resting LONG inventory support over the last 24 hours. The bulls had several good challenges today with multiple hits in the 966′s and below, but their resting LONG inventory held and they mounted a nice fight at the end of the day. Now the sellers Delta Zone of resistance still in place from Tuesday seems the new target, oh the fun continues!
Video 1 – Quicktime download link
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