As we head into the weekend, most traders with open positions would be nervous about overseas markets, with the kind of news hitting our open prices.
Need to be careful , as those markets are moving 3-6 % on an average everyday. With 2 full days lost before we open next Tuesday, it’s enough to make any trader with a position nervous as he looks forward to the open on Tuesday.
Here’s a look at the Profile chart of SPX in the cash market.
We discussed this trade in the morning on how a move below 1157 would bring 1145 which is the POC of yesterday. With the /es currently at 1160 ( 1.52 pm) the buyer at 1145 is playing out his hand.
The broader profile is sideways with buyers below and sellers above.
