[Soultrader]

Attached is just a simple data for the ES going back 1 year. If anyone needs indicator values as well, let me know and I can create this for you.

First, going back in time one day before. Nikkei showed some strength yesterday gapping lower but rallying throughout the day. This confidence transfered over to the US markets later on, with ES rallying as well. Value placement is completely higher entering into the value area from 9/23.








The mp pattern we are seeing of a "P" profile after a series of down days can indicate temporary short covering. To support this idea, lets take a look at the Nikkei 225 as of 11:25am.

Below chart shows a morning session Nikkei 225. Price was rejected above the previous day value high area and rotated back down to VAL. You can see how price is not ready to leave value.




A little bit of weakness I am sensing based off the morning session which may get transferred over to the US. Currently ES is down well off its highs yesterday falling below the established value area from yesterday. (currently at 1197)

Couple levels I will be watching for today:



Ultra key areas: 1220 - 1222, 1192 - 1194

Will be focusing more on the short side today. Happy trading.