Close enough. The rest of the day seems more uncertain. Probably going to see some range bound action / consolidation today. Probably not the best area to get greedy on long entries as we covered a lot of ground this week already.
Yes on op, but after a day like yesterday, one would think we should have more overlap, not hard to see that we have a lot of overhead resistance, lots of Elephants stepping on price,
I am not a writer, a market guru, or a textbook teacher (as opposed to in-person). I can not explain the concepts of volume nor the reasons why such concepts are valid or not. Further, offering cherry examples of MY insights is not useful as they are MY insights. I do see there is an appetite for the topic of volume. This thread is certainly not the correct place for such a feeding. If your interest in volume is genuine there are many places to look. Richard Wykoff is one of the fathers... a good place to start. An offshoot is VSA (volume spread analysis) created by Tom Williams. The concepts of accumulation and distribution are more easily understood via VSA. Plus the connection of why non-intuitive low and high volumes may occur during these phases. Market Profile is another method one can look at. MP originated at the CBOT. Some platforms include a licensed Market Profile. Other platforms offer some sort of Price by Volume study which is a somewhat simplified interpretation of Market Profile. Point of control, Naked point of control, value area, and more are derived from Market Profile. For the brave, the Jack Hershey methodologies have 1000's of posts and a dozen or so threads here in ET. There is a small faction of Hershey practitioners here on ET as well. Hershey's first method used channels, which all have a beginning, a middle, and an end and as such, provides some visual understanding of how (and why) volume operates. I'm sure there are many other methods (and tools) I did not mention... volume is not some newly discovered data point. And like everything else regarding trading methodologies, there are plenty of dead bodies that could not make volume work. Don't be that person.
two days before its options expire, if the highs are taken out? the next level is 65, but the level to watch is 70,