Divergent Trading

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ES review & plan

Following Friday's strong NFP number, the ES opened within Thursday's range, tested lower to the prior POC and then slowly pushed high. Cumulative delta was trending strongly higher without a great increase in price, but eventually the overnight high was breached and another all time high was made. This was a poor high showing no excess completion to the upside auction yet. The late liquidation break reversed off Thursday's open and recovered leaving value overlapping higher.

There are no US economic releases today, and it's very light until Thursday's retail sales. Long term trends are all holding up and the upside objectives remain the same. 2067 remains an important high volume area for bulls to remain above. A break below puts Thursday's poor low and recent market/volume profile references in the sights.