The market headed south early on last night and made around 10 handles of progress to the downside before enticing buyers back into the S&P. The dynamic action left behind a volume pocket which will be of interest as we approach the opening bell. I’ve highlighted it below:
In terms of the market profile footprints, we’re seeing these large, D-shaped profiles, which signal no real directional conviction. The bearish bias from yesterday comes from the fact that we closed out near the low of the session. The follow through overnight adds credence to their cause. The resistance overhead is pretty clear cut in the following picture:
We still have a big gap below to watch also, good luck trading today, people:
