iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
3,464 Blog Posts

Control Into The Weekend

We are coming into the first of the month, a Friday, the day after Halloween, with the long-term picture of an auction controlled by the buyers.  The sellers have recently stepped up and have been absorbing aggressive buying more successful then we have seen in a while and they made an aggressive push into the bell yesterday.

The sellers have an opportunity to sustain their foothold today.  The overnight action stayed below the low volume node at 1756 signaling little has changed to the level of conviction the sellers possess.

Early on the 1756 level is in play and is my early tell of sentiment.

The overall picture of the S&P looks fragile both on the upside and lower therefore I am keeping an open mind.  I have presented a few scenarios to guide my vision on how today may print and also highlighted key price zones on the following market profile charts:

ES_MarketProfile_11012013

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