Its all about the squeeze so far today – this move got going yesterday on a break under Friday and Monday low 1371.5 / yesterday IBL at 1370.5. There were lower lows after the US opening and the European close was another driver (16.30 on my chart).
A squeeze has developed today and the laggards under 61 are stuck there. 140k sellers hit the bids yesterday and this shows where they are. (Chart is mostly based on the European close and S/R on delta).
The 1363-65 was largely bypassed on the downside due to the stampede yesterday (I watched Apple and NQ also).
Today’s vpoc is currently at 1364.75 – sellers came in at 1366 but buyers defended 1359.25.
Sellers looked active again at 1365.25 and price made a double top with delta lagging behind.
Buyers stepped up again to pop it above 1366 and it is holding there – 2 hours to US pre-market.
Currently 10 handles off the ONIBL (yellow line 1357.5) – US premarket in 2 hours.
Updated. Mondays close should have been a clue:
— atoast2toast (@atoast2toast) April 10, 2012