E-Mini S&P 500Yesterday’s price action was a bit unexpected due to earnings outcome. However, while price went up, it was not very convincing, due to the pace and low volume. Divergence remains.
Overnight session remained within the value area low of the previous session. Towards market open, price pierced yesterday’s POC and pulled back to the bottom of value area high.
Based on the pullback, the price is likely to test overnight lows or retrace to overnight POC before resuming higher to retest yesterday’s high.
Lack of convincing price movement backed by volume leads me to suspect something else is happening. (Today there are a few things on the economic calendar). Therefore, wait for the initial balance to be established before entry.
