ES[U22] Debrief 08/15/2022
Market Overview
All major indices started the week in the green along with 9/11 S&P sectors. Bitcoin, Ether and long duration US treasuries all fell.
Here are some of today’s closing prices.
Top-Down Analysis
Monthly Change: +3.99%
ES couldn’t take out June’s high of 4189 so it’s OTFD for 5 straight months. However, ES finished up 9% MoM. July was an inside month failing to erase the high and low from June.
Prior month’s close: 4133.50
Weekly Change: +0.40%
ES is OTFU for five straight weeks with four consecutive weeks in the green.
Prior week’s close: 4281
Daily Change: +0.40%
ES looked above the late April / early May highs by a couple of ticks today. Also is OTFU for four straight sessions.
Unbroken Levels (M, W, D)
Highs: 4631, 4588.75, 4519.75, 4509, 4393.25, 4304.75,
4303.5,4303,4300.75,4282.75Lows: 4249, 4208.25, 4202.75, 4113.75, 4113, 4103.75, 4084.5, 4080.5, 3994.50, 3938.75, 3913.25, 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: 4281.50
ETH VPOC: 4210
ETH VAL: 4186.50
ES RTH Volume Profile (today)
RTH VAH: 4303.25
RTH VPOC: 4297.75
RTH VAL: 4273.25
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 4296.75. There’s excess below 4264.75 and single prints between 4284 and 4287.50.
Session Recap
Electronic Trading Hours (ETH)
Globex Session:
Wholesale’s position at the previous day’s close was long. The ONO was inside of the previous day’s value area. Inventory during Globex was short. There was a poor low at 4249 where supply ran out as shorts were trapped underneath.
ONO: 4277
ONH: 4278
ONL: 4249
ONRange: 29
Regular Trading Hours (RTH)
US Session:
The RTH open was inside of the previous day’s value area and inside the T+2 high and low. When ES opened up for RTH, it only fell by two ticks. From then on longs swarmed the offer and lifted ES for virtually all of RTH. There were moments of backfill to search for buyers but once supply was in hand, ES kept elevating higher. Today had double distributions with the most volume being traded at 4297.75. Eight TPO periods were spent here and ES crept up further to look above 4303.50. Shorts are trapped below 4284.
O: 4258.25
H: 4304.75
L: 4257.75
Range: 47