Traders are holding support near higher lows (S&P 500 futures), but are clearly in a space for decisions to be made.
There are thin volume profiles in these regions so fading action that remains choppy seems likely.
We are likely looking at more minor whipsaw ahead for stocks and stock market futures as we fill in the volume profile.
As mentioned yesterday, acceleration right through areas of low volume are likely to retest that old resistance as support – and this looks like what is happening now.
Stay alert as fast moves (like Wednesday) can turn into failed moves.
Don’t assume anything – watch your levels. See details in video below.
Stock Market Futures Video Update – November 9, 2018
The author trades stock market futures every day and may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.