Weekly Thursday Update 12/22/22

Before we dive into the update let’s have a look at todays profile relative to yesterdays levels on ES. To start I would like to point out that todays open was directly off my 3867 long target which was achieved OVN.

Those levels were…

Long: 3837 > 3867

Short: 3829 > 3767

As you can see we had quite the rally today which was through my expectations. I pointed out that 3894 would be great area for shorts as this was the value are high of this current node. This week has been very dry in terms of events especially considering last week we had CPI + FOMC along with other major economic releases. Keeping this in mind it was surprise to me that we were able to trade through 3900 and break my Value Shift level noted in Tuesdays update, 3912.