The market did test yesterday's Point of Control, and this time the Point of Control held as resistance. We may stay in a narrow range today as traders wait the release of Chain Store sales tomorrow.
I only have TradeStation's Matrix window to determine the volume at each price level. Other data suppliers may have indicated different data. What I had was a little over 110000 for 1185.50 and about 98000 for 1183.25. I haven't downloaded data directly from the CME, but that would be the most accurate source.
One other thing that I just realized. My Matrix window is looking at 24 hour data. You may be right for data from 0930 ET to 1600 ET. Another way to look at this is that there is a resistance zone from 1183.50 ro 1185.50.
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Charles, The 1185.50 was NOT the POC , that was the Volume POV (VPOC). The POC was below at 1183.25.
ReplyDeleteI only have TradeStation's Matrix window to determine the volume at each price level. Other data suppliers may have indicated different data. What I had was a little over 110000 for 1185.50 and about 98000 for 1183.25. I haven't downloaded data directly from the CME, but that would be the most accurate source.
ReplyDeleteCharles
One other thing that I just realized. My Matrix window is looking at 24 hour data. You may be right for data from 0930 ET to 1600 ET. Another way to look at this is that there is a resistance zone from 1183.50 ro 1185.50.
ReplyDeleteCharles