S&P 500 Hitting Heavy Liquidity
ES1! showing signs of heavy resistance to price movement, AKA liquidity in this rarified air. The daily ranges for the previous two trading days will be monumental in the market deciding its direction, as there is a lot of interest packing in at these levels.
5287 to 5349 are the outer limits with 5318-to-5323 also being important inflection points as this plays out.
Volume has notably been low during the melt-up that got us here, but this low influx of volume has seemingly run into a wall of resting orders.
I lean short, but will wait for confirmation either direction.
5287 to 5349 are the outer limits with 5318-to-5323 also being important inflection points as this plays out.
Volume has notably been low during the melt-up that got us here, but this low influx of volume has seemingly run into a wall of resting orders.
I lean short, but will wait for confirmation either direction.
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