Thursday, July 09, 2009

Midday Briefing for July 9th: Sitting Near the Highs

The Market Delta chart shows significant buying interest since 9:30 AM CT, which has returned us toward the overnight highs. Note how we've built volume in the 881 area for ES. If we are to break out to the upside, selling should be contained and hold above that level. Failure to hold the 881 area would target VWAP and the lower end of the day's range.