ES Daily Update – 2nd July 2020

E-Mini S&P (Sept) Previous Day

Commentary – We had a nice distribution on the ES yesterday, with some relatively bullish sentiment and some very technical pullbacks in the morning & afternoon. This market is so incredibly technical, in that, if you understand the mechanics of market profile, some great day-trading opportunities present themselves multiple times a day. Yesterday’s lows filled out the M-Period spike from the previous day to a tick – this is positive as the market went in search of lower value and built positive structure before moving higher. Last night’s N-Period settlement tagged the previous day’s M-Period high which was also noteworthy……

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