S&P Daily Pre-Market Prep 6/7/17

Posted by Peter Davies on June 07, 2017

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Volume was more respectable yesterday, Market was sideways with a decent opportunity off the open and into the close. Tough in the middle though.

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We have expanded the volume profile and it's evenly distributed - which is indicative or rangebound trade.
 
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A poor day yesterday but not bad technically. We traded down to the overnight low and we had absorption at the lows, then we moved up to the prior days value area, then we moved down from there. So observing typical day speculator zones. So a couple of our scenarios played out

Plan
- Very Low expectation day
- Looking for longs at or below 2429 and shorts at or above 2437.50 - will not trade in the middle
- will try for an early trade off the open
- also watching overnight hi/lo & yesterdays hi/low value area


Weekly Numbers
Range - 2426.25 -> 2439.25
Value - 2429.50 -> 2435.50

Daily Numbers
Range - 2426.25 / 2427 -> 2435.75
Value - 2429.75 -> 2433.25
Globex 2428.25 -> 2433.25

Settlement – 2430.75

 
 

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Topics: Market Updates