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I just love when prices are stuck inside the IB's range. In hindsight it looks like they just flow inside the IB's main areas.
For now I can't see how prices will be able to go higher with so many obstacles ahead.
Today's VA high at 25.25, right below the open price. VPOC at 23.50 where it's trading right now. Also 25.75 is a LVN from yesterday.
We really need to trade above the pivot range, 24.75, so value can raise and prices start to receive buy interest. Otherwise we might start to drift lower again towards the lows.
If I become half a percent smarter each year, I'll be a genius by the time I die
Suggestion: Would be great if BM forum had a weekly sentiment analyzer poll on front page every weekend. Something like SnP500 will close (1) higher than xxxx on Fridays close (2) lower than yyyy on Friday close
That's an interesting idea. The weekly futures.io (formerly BMT) sentiment indicator.
But I would made it not that specific, not specifying an "x" S&P price.
For example, it would be released every Sunday night, prior to the futures opening, the sentiment for that week. Will the market close higher or lower by Friday's session end? How many bulls and how many bears? That's it.
You could also divide it by Treasuries, Commodities, Equities and Currencies. If you start to be too specific about it people will be lost in it. A simple broad sentiment would be preferable.
The size that futures.io (formerly BMT) has, I think that sentiment indicator would be interesting to follow...
If I become half a percent smarter each year, I'll be a genius by the time I die
