ES Wednesday 7-15-15

Good morning to all. The action in the O/N has been pretty quiet and went out of YD's range a little but is back in the range again. I think Greece news is holding everything up and markets are pretty news driven at the moment.

YD's prominent POC and VPOC at 2101 could be in play today and after that the next support could be potentially in the 95/97 zone.
On the upside we have a previous swing high at 7.5/7.75 which also lines up with the O/N high.

If things are as slow as YD I will not much to say again today but we shall see what the day brings.

Good luck to all.

YELLEN gives testimony on Caipiol Hill today.

Text of speech will be un-embargoed at 8:30AM according to what I read.
Her testimony does not start until 10:00AM (when she will read aloud her prepared text and then have Q&A).

Greek crap looms over market, too9.
Might see a lot of sideways.

thanks for that little news nugget. i have not yet started to look at the economic calendar but that 8:30 am event did not do a whole lot... looks like it is all Greece at the moment... i read somewhere that the Greek parliament was to vote on the package but i am not sure when that is happening

I think the vote is supposed to be today, before their time midnight, or at least they are going to be debating it. Who knows...

Today seems like a prime day for opening inside va, then testing one edge and then testing the other.

overnight stopped rising at one tick shy of the 6/25/15 High of the rth

yup, you are right. that was what i saw as well when i mentioned it came close to the previous swing high.... should be an interesting day as always

Originally posted by PAUL9

overnight stopped rising at one tick shy of the 6/25/15 High of the rth

got a retreat from the VAH. now to see if we get VAL. both are with respect to YD

YD's VPOC/greenie giving some resistance here. Let us see if we can get to that VAL

the greenie from YD sure is acting like a magnet so far....

low of the day so far is 99.75 which was a LVN from YD. Shout out to Bruce for that LVN!

just printed at yesterday's H which was only a couple of ticks above the VAH...Thisss is where fast traders are trying the short side... see what happens.

dont forget, first the Greek parliament has to vote. If they accept it, then the various countries of the EU have to vote. Only then would it "final"

Originally posted by PAUL9

I know.
It's amazing,
The market seemed to overlook the fact that there really will not be a resolution to the Greek thing until they vote to accept the conditions... I have no doubt that it will be resolved, but the process has not completed yet.