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Very similar to the video from yesterday. Repetition helps with recognizing behavior. Large passive buyer in #ES_F creates this heavy delta. As we trade under, do we get continuation? Or do buyers snap back through?
Heavy delta isn't magic. Where is it happening? Are we getting continuation? Or does it fake through and pass right back? In this case we get a poke lower, no continuation. As we passed back through, buyers took control in #ES_F
Big old Iceberg on #ES_F... Popped through it and traded up to some resistance. We can watch and see if that responds in the regular session as it's near some confluence.
Market behaviors.... One handy way to get a feel for how your market of choice moves, is to have a look at typical rotations. Here are #ES_F rotations measured as a % of ATR, and how frequent those rotations occur.
A little bit of #ES_F prep heading in to today. It would be nice to carve out a bit more structure to have more to lean on in the coming days. Grindy all time high markets tend to require more of an intraday read until we find some more balanced action.
Pretty balanced action in #ES_F into the Fed and earnings. Building solid volume at these edges in a very tight range. Not reading much into the rest of today, I'm more interested in how we behave tomorrow.
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