ES Jan 5th 2015 : notes

Chart is wider to show why HVN / prior balances are marked.

  • Was going up on declining volume and range.
  • Price doing a back and fill. Red areas behind price candle marks area of poor structure.
  • Watching daily delta and volume to see if climactic action happens here or lower on larger volume. Sellers into the low volume top may want to “convert” recent longs to cover lower depending on what happens in the next few days.
  • Today has a b shaped profile (associated with long liquidation but probably bottom pickers) -35k delta on 30/40% above avg volume.
  • Not enough to see a -80/-100k delta flush, (one of the other signs of capitulation I watch for).

  • Chart is wider to show why HVN / prior balances are marked.
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