ES[U22] Debrief 07/25/2022
Market Overview
The Nasdaq was the only index in the red while 8/11 sectors closed green. It was an uneventful day as investors cautiously await what might appear to be fireworks ahead for the remainder of the week. More than half the Nasdaq 100 companies report earnings this week. The Fed’s rate hike announcement is happening Wednesday and the Q2 GDP print comes on Thursday.
Here are some of today’s closing prices.
Top-Down Analysis
Monthly Change: +4.76%
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: +0.13%
ES is OTFU for the past two weeks. 3820.25 will need to get erased to end OTFU.
Prior week’s close: 3965
Daily Change: +0.13%
ES is OTFU for 8 consecutive sessions. Today’s session was an inside candle where the high and lows from the previous session remain in tact.
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, 4016.25, 3988.75
Lows: 3946, 3941.5, 3930.25, 3922.25, 3834, 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: 3982
ETH VPOC: 3957
ETH VAL: 3930
ES RTH Volume Profile (today)
RTH VAH: 3975
RTH VPOC: 3969
RTH VAL: 3958.50
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:
Here’s a TPO chart of today’s session with ETH/RTH Market Profile:
The TPOC was 3969. There were single prints at the bottom of the RTH profile at 3948.25.
Session Recap
Electronic Trading Hours (ETH)
Globex Session:
The ONO was inside of the previous day’s value area. Inventory in Globex was balanced and long heading into RTH. Longs were trapped above 3990 and shorts were trapped below 3951.50.
ONO: 3967.75
ONH: 3988.75
ONL: 3951.5
ONRange: 37.25
Regular Trading Hours (RTH)
US Session:
The RTH open was inside of the previous day’s value area and in between the T+2 high and low. Trading in RTH was balanced and rotational. The RTH trading range was tight. All RTH trading remained inside of the previous session’s low and VAH.
O: 3971.25
H: 3979
L: 3946
Range: 33