E-mini S&P 500 Following Technology Up.
This morning the e-min S&P 500 starting out with good buying. Before we see today’s action, we’ll review yesterday’s TradeFlow chart.
Yesterday’s TradeFlow chart, which uses 5-tick aggregation, the price broke support a number of times, but the TF5VCrs sell volume line (red) did not climb. At one point, the market broke to a new low, and the TF5Um5D study turned up (arrows). The TF5VCrs then climbed (A) but the price was in a resistance zone and turned back down. The market made a new low, but the TF5VCrs sell volume line (red) made a lower high (B) then the peak established by the buy line (A). Sellers did not dominate and the market recovered going into the close.
This morning, the e-min S&P is trading up and the TF5VCrs buy volume line (green) is dominating.