In this idea, I show points of interest for ES futures and SPY based on volume.
This week (12/31/2023 - 1/5/2024), the markets started to pullback from 2023 highs.
Note: This is not a trade idea. For educational purposes only. This is not financial advice.
Points of interest:
ESZ2023 price at expiration = 4694.25
Recent swing low Volume Profile Point of Control = 4606
Failure to hold 4606 could lead to further downside to 4556 (recent swing log Volume Profile Value Area Low).
Potential further downside to the Value Area High (4466) and Point of Control (4300.25) of the Volume Profile drawn from the October 2022 swing low.
Points of Interest for
SPY
layered onto
ES1!
This week (12/31/2023 - 1/5/2024), the markets started to pullback from 2023 highs.
Note: This is not a trade idea. For educational purposes only. This is not financial advice.
Points of interest:
ESZ2023 price at expiration = 4694.25
Recent swing low Volume Profile Point of Control = 4606
Failure to hold 4606 could lead to further downside to 4556 (recent swing log Volume Profile Value Area Low).
Potential further downside to the Value Area High (4466) and Point of Control (4300.25) of the Volume Profile drawn from the October 2022 swing low.
Points of Interest for
SPY
layered onto
ES1!
Still showing signs of a bear continuation pattern.
Price reached 4702 after NFP release and reverse short of the 4694.25 level.