Weekly [03/26] Study
![Weekly [03/18] Study](https://substackcdn.com/image/fetch/$s_!_Enw!,w_140,h_140,c_fill,f_webp,q_auto:good,fl_progressive:steep,g_auto/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F8ed41ad3-b40d-4635-9446-1ee1c7725694_1397x1432.png)
My last release shared a Plan for this sequence. Orderflow Pivots contained the Auction until a new participant entered the Market. As such the Markets change, SetStack updates.
Long Target : 5750 : Gaps down
Pivot : 5690 : Bids Price back up
Now Resistance : 5750 : Rejects (3) times
Auction Target : Double Red : Met, but fails to Initiate
“Smells like Trouble”
The Market respected the Auction well with the majority of Buying being seen at lows, and the majority of Selling being seen at highs. This however changed when the expected, did not happen.
Strong Resistance rejects and provides multiple times. On the morning of a Gap Down with Tape, Price was halted. Price had found a Strong Support in a place, and at a time most could not have expected.
This Buyer rallies intraday Price and secures the Auction above Pivot.
This is what led to the years’ first True Gap Up.
03/21 : This is a Screenshot/Tweet of the Footprint at ES : 5670 (Target from 5750).
A clear shift in the Market was present on the recent trip to the lows. Initiative Selling had met overwhelmingly powerful buying. Indicated in the screenshot. Every instance/attitude of initiation is seen here, in both directions. Unique.
Normally I wouldn’t place so much focus on a singular event, but this attitude is also what forms the weight of this Plan.