Trading Advantage Futures – Notes from the Pit 5/15/17

ATTEMPTED DIRECTION:        BUYER    or    SELLER

1) Rotation                                                   Seller

2) Range Extension                                      Both

3) Public went home as a…                         Buyer

4) Buying-Selling Tails                                Neither

5) Open in Bull or Bear Range                    Seller

ATTEMPTED DIRECTION: …Mixed

Comments:  This shows no bias with a “neutral” profile.

ATTEMPTED PERFORMANCE:

1) Today’s ES volume compared to prior day & 5-day average

Today           (1.058 million) … LOWER vs. the prior day

5-day Avg.   (1.083 million) … UNCHANGED vs. the average

2) Value Area: Inside

3) VA Width: Narrower

COMMENTS:  The VA placement was outside-to-lower and wider vs. the prior day’s value area with higher volume. Aggressive sellers led buyers by 0.58%.

Monthly Trend = Bullish

Weekly Trend = Bullish

Daily Trend = Bearish                                                                                                                              

POTENTIAL RESULTS: HMI (housing) data will be released 30min after the open.

(HVA)Support =     2388.25 to 81.50, 2372.00 to 68.75, 2346.50 to 37.50

(HVA)Resistance = 2391.75 to 95.00 … none

* Indicates important “chart levels” that are not HVAs.