SPY/ES for 9/6
Hail Mary?
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Here’s the situation on SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ DIA 0.00%↑
All indices are gapping value lower on a weekly basis. This is quite bearish. That said ES hit my major downside target for the 5585-5665 box breakdown and NQ is holding a critical spot. We have NFP tomorrow and I’ve said all week it makes sense for ES to balance near 5530s ahead of NFP. Here is your volume profile for the developing week. An aggro sell Monday followed by balance. If you’re familiar with how to play this profile shape (a b-shaped profile) then you’re all set for tomorrow. We’ll discuss tonight as I do think NFP is the major event for this week.
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