04/27/2023 Synopsis
Appetite for equities increase as Meta's earnings boost sentiment.
Market Overview
The S&P 500 was up in today’s session. 11/11 sectors were positive.
Outperforming Index: 🟢 Nasdaq-100 QQQ 0.00%↑
Underperforming Index: 🔴 Russell 2000 IWM 0.00%↑
Strongest Sector: 🟢 Communications XLC 0.00%↑
Weakest Sector: 🔴 Energy XLE 0.00%↑
Top Stock: 🟢 Hasbro Inc HAS 0.00%↑
Poorest Stock: 🔴 Align Technology ALGN 0.00%↑
US Treasury yields advanced.
2-year: 🟢 4.09% (+14.6 bps)
📈 Here is the broad market overview as of the current day’s close.
S&P 500 Breakdown
📈 Here is a breakdown of the S&P 500 by sector, style and top holdings.
E-mini S&P 500 Top-Down Analysis
📈 Below are the monthly, weekly, daily and 4-hour charts for $ES_F.
Monthly: 🟡 Balance / consolidation. [Last 4 months: 3788.50 - 4208.50]
Weekly: 🟢 One time framing up / higher lows. [Nearest low: 4135.25]
Daily: 🟡 Balance / consolidation. [Last 3 days: 4068.75 - 4166.50]
E-mini S&P 500 Metrics
Recent Performance & Technicals
E-mini S&P 500 Volume Profile
ES ETH/RTH Split Volume Profile
📈 Here is a chart of the past few sessions with a daily ETH/RTH split Volume Profile:
ES VWAP/Volume Profile Levels
Session Recap
Electronic Trading Hours (ETH)
Overnight Session:
Wholesale inventory was short at the prior day’s close, despite a late move in afterhours that trapped shorts. The overnight open was inside the prior day’s value area. There was no supply during the Asian and London sessions. The auction failed to get underneath the prior day’s value area as buyers were able to absorb supply at 4080.75. $ES_F climbed steadily throughout the remainder of the overnight session, while remaining entirely inside yesterday’s value area. There was overhead supply at 4105.75. Inventory during the overnight session was long. Overnight VPOC was 4099 nearly inline with yesterday’s VPOC.
Regular Trading Hours (RTH) Session:
The RTH open was inside the prior day’s value area and inside the T+2 range. There was no gap between the previous day’s RTH range and the RTH open. When the NYSE opened, as was the case in the overnight session, there was no supply. The auction climbed above the overnight high in A-period. At 4115, there was supply which acted as resistance during B and C-period. In D-period, this supply was absorbed by buyers and $ES_F continued higher. From D through L-period, $ES_F was one time framing up at two standard deviations above VWAP. The auction climbed above the weekly and monthly-anchored VWAP’s and returned to the composite VPOC from the previous 5 sessions. In N-period, with Meta’s earnings being reported, buyers lifted $ES_F above the RTH close but supply at 4166.50 absorbed buyers. There were 5 sets of single prints left in today’s auction.