Here is a chart of the Emini SPX futures also called ES.
The chart is an intra-day chart of the past 30 days of 60 minutes duration currently reflecting an ES value of 1072 and we are 3 hours from the close.
The volume profile on the right shows a high value zone at 1083 levels, which in my opinion is a decisive zone for the future of that market.
Quite simply put, if prices rise and stay above this level then we can see 1148 being printed again.
Though it’s doubtful we will get past that level today, it is a level to keep in mind since we will be certainly looking at a test of our 5065 level tomorrow.
Bear in mind that just before we closed, smart money closed a lot of short positions in the last five minutes.
The green bars on the right testify.
