2/8/2017: Sp500 E-mini (ES), cash index update

Today ES tested 2281 low and reverse back to 2292 high , then close at 2291. The price is still in back and fill mode to fill the break out area from 2275 to 2285. The price action is pretty neutral.

• The VPOC is still at 2288.5 same as that of yesterday (2/7/2017)
• The value low is at 2286 same as that of uesterday (2/7/2017)
• The value high is at 2291 one point lower than that of yesterday (2/7/2017)
• The volume profile is a P shape profile with long tail at 2281, if tomorrow price can take out value high 2291, 2295 is the first target, then 2299.
• Buyer still can buy at level 2275, 2280 if one of them hold
• Seller still can short at high 2295 or short below 2288.

let's look at cash index. The price test 2285 low and reverse back to 2296 high, then close at 2294.67. Everything is still in the range (2285~2296), within the uptrend channel. The possible price action tomorrow:

• test 2280 low(gap fill), then reverse back up
• test 2285 low again then reverse back up
• test 2300 high then reverse back down  

http://schrts.co/TTv0gn