Coming into the week, we have three days of overlapping value to use as bias for direction into the week. Last week featured a very similar overlap of value and seeing acceptance of price above the big value gave us conviction to the long side all week.
The same weight should be given to the three days of overlapping value this week.
The overnight session has been flat thus far. The only notable development was the rejection of Friday’s HVN on the upper volume node at 1664.50 which I consider the only line in the sand stopping more upside.
Here’s a markup of the other important S&P levels:
