Sell volume imbalance at the edge of a balanced auction – August 9 close

August 9, 2018

ESU18 SEP Contract

Why Price is Just a Number

These volume imbalances were built up for most of the session. While retail traders were looking for the break of resistance, the orderflow shows distribution.  Net negative delta increased while price was at highs to fuel the negative divergence.  A key HVN at 2859.25 was not able to find acceptance and the change control to seller control occurs shortly after.  Price is advertising higher but volume revealed the true narrative.

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