
We've moved above the day's volume-weighted average price (VWAP; red line) following firmness after the employment numbers, targeting the range high around 1133 in the ES contract. Note, however, that we're not yet seeing positive cumulative Delta (bottom of chart, blue arrow), suggesting that buying sentiment is not dominating selling sentiment despite the firmness. I need to see that number go and stay positive to stick with a short-term bullish thesis. Note the overnight session's support level around 1127; we need to stay above that level (and preferably above the 1128.25 low registered after the data came out) to sustain the short-term bullish stance.
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1 comment:
I use the same charts as you Market Delta. I have noticed that are data is a little different. I'm using DTN IQ feed is that what you use?
Thanks,
Douglas
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