There was a sense of pressure building on the offer as we closed out regular trading hours yesterday. Pair that with the poor high set on the market profile, which built context going into the globex session that we would take out the high.
The market has actually gotten a bit ahead of itself overnight, and it wouldn’t surprise me if we saw a bit of churn this morning while the market decides if it wants to accept the overnight progress. I’ve highlighted a few scenarios about how today may play out, and highlighted levels I perceive to be opportunities on the following market profile charts:
That is some bullish action in $RVLT, I’ll hazard a guess. Washout to $3.63 rips through stops, then recovery to $4.09 ask (now).
bUCKLE Up on this ride