All the energy went into the volume spike at 2 so I expect a slow sell into the close.
Bigger point to me is the island top was created going up on super light volume. Gap down was good night time volume but we powered back through on an algo driven fed news release. I think that gap area will be revisited because we really haven't had trading in that area, just elevator rides.
smalls have been leading up
smalls have been leading down
hence, i will trust this rally when the smalls do...
[edit: ps: yes, i see the higher low(s)]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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Four day view showing the same hole in the volume profile. If this market slips this week ES 2714 is clearly one area where there is support. Further up it sure is blocky so no clear consensus on fair value. Also it is clear that the volume was high in the chop zone before the Fed notes were released.
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