The Precise Take – Consolidation yesterday and overnight

The ES has found support at the upper end of the next lower market profile value area, the point of control of which is 973.25.  Today’s Time Profile is a bit flat and not indicating a significant edge.  Housing Starts and PPI at 8:30 am today are the only major news items, and tomorrow is a flat news day.  Accordingly, we have no directional bias into Thursday and expect some more back and fill into options expiration on Friday.  Today, we become intraday bullish above 990.00 and intraday bearish below 979.50. 

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