S&P: 3-Days of overlapping value

Chart-1: Wednesday, Thursday and Friday’s action in the S&P has produced 3 day’s of overlapping value.



Chart-2: The S&P has come into balance at Tuesday’s (April 1st) high. If we get an increase in volume, watch for a breakout from this balance.



Chart-3: The 24-hour Globex profile for the same 3 days shows the selling tail that formed after the NFP report. Dalton states, “..auctions often end following an excess high”. It should be noted that this excess high formed in the overnight session. Trading back up through a selling tail indicates that market sentiment has changed.

SRS