ES[U22] Debrief 07/19/2022
Market Overview
Equities recovered yesterday’s losses and then some. 4/4 indices and 11/11 sectors were green. Yields rose while Bitcoin and Ether continue their rally. As far as the S&P futures go, ES is within striking distance from closing the month-long gap left June 9-10th, from 3959.50 to 4016.
Here are some of today’s closing prices.
Top-Down Analysis
Monthly Change: +3.91%
ES has been OTFD for four consecutive months. If longs can’t erase the June high of 4189, then this trend will continue for a fifth straight month.
Prior month’s close: 3789.50
Weekly Change: +1.88%
The past 5 weeks for ES have been going sideways in a range between 3639 to 3950.
Prior week’s close: 3865
Daily Change: +2.71%
ES is OTFU for four straight sessions.
Unbroken Levels (M, W, D)
Highs: 4631, 4588.75, 4519.75, 4509, 4393.25, 4303.5, 4303, 4202.25, 4189, 4168.25, 4160, 4144.25, 4030.5, 3950,
3922, 3909.5Lows: 3820.25, 3780.25, 3723.75, 3693.25, 3661.5, 3639, 3596, 3592.25, 3575.25, 3545.5, 3518, 3506.5
Performance & Technicals
ES Composite Volume Profile (5 days)
ETH VAH: 3866.75
ETH VPOC: 3805.25
ETH VAL: 3735.75
ES RTH Volume Profile (today)
RTH VAH: 3948
RTH VPOC: 3935
RTH VAL: 3899.50
Here is a chart of the past five sessions with a composite ETH Volume Profile:
Here is a chart of the past five sessions with a daily ETH/RTH Volume Profile:
Session Recap
Electronic Trading Hours (ETH)
Globex Session:
At the previous day’s close, wholesale’s position was short. The ONO was inside of the previous day’s price range but below the value area. Inventory in Globex was entirely long.
ONO: 3838.50
ONH: 3878
ONL: 3834
ONRange: 44
Regular Trading Hours (RTH)
US Session:
The RTH open was inside of the previous day’s value area. It was also above the T+2 high. The RTH session was filled with no supply and demand. Shorts tried to sell at the opening bell but the auction remained in the previous day’s value area and continued long from Globex. It eclipsed the ONH and previous day’s high. The HOD was 3948, two points shy of the high from June 28th.
O: 3874.75
H: 3948
L: 3868
Range: 80