Developing value and HVN areas
ES sliced through the “thin zone” 1880-1925 – stopped at 1939 HVN of [Tue 09/30- Fri 10/10] balance from prior to FOMC rally. The next area above is 1963.
DAX had a similar pattern where the market trapped shorts on the large volume down day [10/15-10/16]. The bulk of the volume was centered at 8630.
Price re-tested that area today at the open (8641.5). Many took the chance to get out and others got long. 9015 9345 are the next reference areas above.