The above chart shows the progression of value over the past couple of months. A range forms, eventually breaks with an imbalanced moved, then retests the top of value of the previous range. The current short term range is building energy for a large break in my view. The current VPOC of this range is 2040.50 versus 2061.50 on the composite volume profile for the past 1500 days.
Overnight has been strong with Europe, led by the bank sector. The split profiles below show the sessions activity overnight:
My zones for today are below. My primary expectation is for a test lower after the open but for buyers to maintain control above the 2040.50 range VPOC and ideally the 43.50-45.50 zone. I'm looking for an initial upside objective of the 58.75-60.25 zone. If buyers fail to hold above 40.50 then we could rotate down to the overnight low zone and potentially lower.