Tuesday, April 21, 2020

ES Resistance around Year's VWAP Close Level

ES with a new daily bracket area. The test of the bracekt's low is probable. Hourly with a downside rotation once market found resistance around the previous Year's VWAP with some absorption. Monitoring swing highs and lows for now.

Monday, April 20, 2020

Ask/Bid Difference Bars Study

Adding the Ask/Bid Difference Bars study to the chart to spot absorption patterns. You can learn more about absorption here (members):

https://leprivatebanker.com/education/absorption/">Absorption - The Private Banker

E-mini S&P 500 At Year's VWAP Close Level (SPX)

E-minin S&P 500 still with resistance around the previous Year's VWAP close level which is confluent with the prior daily balance area low. Hourly rotational, so simply leaning on the extremes for now (swing high/swing low).

The market opened above previous week's valuce close area. As mentioned; hourly perspective with a rotational behavior. Therefore we can lean us on the extremes. Looking for some absorption patterns around the swing levels. Monitoring the VAH close level.

Wednesday, April 15, 2020

E-Mini S&P 500 Back in Value (Yearly)

Looking at the Yearly perspective of the ES contract we can observe a one-time-framing higher behavior. The market went back into the previous Year’s value close area as well as into the developing value area. Currently we testing a prior balance area low which is confluent with the previous VWAP close level. Additionally it is confluent with the micro bracket’s high (yellow)

Reposted - ES Back in Value (Yearly)

Thursday, April 9, 2020

Crude Oil Inventory Increased Around +3.24%

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 15.2 million barrels from the previous week. At 484.4 million barrels, U.S. crude oil inventories are about 2% above the five year average for this time of year. Source: EIA

Looking at the current chart of the Crude Oil Inventory we can see a "trend" higher since some weeks; forming a "double top".

E-mini S&P 500 Break Above Balance

The market broke out of the prior balance area and one-time-framing highe to the next bracket. For now we testing a micro balance area. Yesterday the market found resistance at the bracket low. Today the market heading towards the next resistance level which should be the mean of that micro balance area and the bracket high. Observing any pattern on the lower timeframes to conclude a trade scenario.

US Oil Rig Count Decreasing

The US Oil Rig Count measures the number of oil rigs functioning in the United States.
- Source Ycharts

The current decrease in the US Oil Rig count is to be mentioned for sure. It could explain the current surge in the Crude oil market (CL) as well (obviously combined with other data).

WTI Crude Oil Daily Observations

Looking a the current daily strucutre we can observe a balance behavior. Yesterday the market closed as an inside day; therefore we can observe the high/low area for any absorption pattern. Obviously a inside day break to surge higher to the bracket high could be possible as well. Additionally, we still have a open gap which should be revisted and filled. For now we observe the balance extremes for an absorption pattern to conclude a rotational scenario to the other side of balance extreme. Let's keep it simple.

TPO Profile Pattern Handbook Available On Website

Our TPO profile pattern handbook with profile shapes,underlying scenarios and to spot hints in the profile strucutre is available for members on our website: