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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: rimshot who wrote (24699)	5/5/2021 2:58:51 PM
From: rimshot	2 Recommendations Recommended By ajtj99 The Ox Respond to of 97561

as of May 5 2:49 pm ET chart set using most recent data feed: considering both the /ES 5-day and 30-day Volume Profile looks backs, they are interpreted as follows, right now using the most current Volume Profile data set: * tapering down takes place above 4182.50 and below 4170.50 from higher to lower volume nodes at each single tick for the /ES pricing... note today's all-sessions price high is /ES 4180.00, so far ... using both look-backs, market participants have established the /ES " accepted fair market value" to currently reside within the 4170.50 through 4182.50 zone, and the Weekly Pivot sits a tiny distance above 82.50, and the Monthly Pivot for all of May sits slightly below the May 4 price low for /ES the /ES Weekly Pivot has served as resistance since the May 5 overnight session began on May 4 p.m., so the trading bias for the coming hours has much to prove for bulls & bears ... ??? will there be Volume prints above 4182.50 and above the Weekly Pivot value now briefly proven as horizontal Resistance, or will there be additional Volume prints below /ES 4170.50 in the coming days/weeks to establish a lower price zone for "accepted fair market value" ??? using rounding for the $SPX cash index, the sequence of higher close lows since mid-April are*: 4125 - tested and generally held on Tuesday May 4, nothing but air below until approx. 3990 and 3890* 4135 - printed twice 4164.66 - Tuesday May 4 close ===================================== excerpt from May 3 evening post - daily chart #2 for $SPX shows: 3 consecutive days below 10-day EMA for the ITBM and ITVM for the S&P 500 index, which has an 8-day count for the $OEX ITBM and a zero count for the $NYA it is possible since the $SPX Price Momentum Oscillator is newly spending time below its signal line that more down is coming ... I see /ES 4183.50 and SPY 419.00 as the most probable "brain dead simple" version of bull / bear horizontal dividers for a future bounce if seen ... there are five other data points from Volume Profile analysis plus more that show /ES 4180 to 4185.00 zone is critical to both bulls & bears stockcharts.com