Yesterday's auction covered 61 points. Today worked 37.25 of them and never reached an edge. Price opened at 7695.75, put in the low at 08:54, then spent the rest of the morning climbing back toward prior POC 7703.75. The high came at 10:53, six points beneath yesterday's. Value built entirely within yesterday's, and the close landed inside it. Two things stayed open: the untouched stretch between 7714.00 and 7720.00, and 7662.50, which never traded at all.
The session
Today's value nests inside yesterday's with room on both sides, a balancing day held within a wider one. The fight happened at two prices. Below, the prior value edge at 7679.00 gave way for eleven minutes early and then closed back above, with the low printing 2.75 points under prior VAL 7679.50. Above, prior POC 7703.75 drew the auction up from below, held it for 28 minutes, and had price back underneath by the bell. Neither edge produced acceptance, time spent trading beyond a level rather than a quick poke, in any size that mattered.
Delta ran positive from the first hour and never turned negative. It peaked at 6,870 by 11:30, after price had already made its high, which is the tell. Buyers kept pressing into a tape that had stopped paying them. The reading eroded to 3,957 by 13:30, then rebuilt to 5,994 into the close with price four points under the open. On more than 890,000 contracts, that is absorption: initiative buying met by size willing to sell every push.
How this morning's read did
The overnight high at 7702.00 is the miss. Price took it from below, held above for 34 minutes, and ran on to 7714.00, which is acceptance and refutes the way I framed that level this morning. Prior POC 7703.75 did the work I asked of it, capping the advance and closing back below after 28 minutes above. The prior value edge at 7679.00 answered ambiguously, eleven minutes beneath and a close back above, a probe and nothing more. The settle at 7662.50 never came into range; the low stopped 14.25 points above it.
Upcoming session's map
This recap is educational market commentary, not investment advice or a recommendation. It does not consider any reader's financial situation, objectives, or risk tolerance, and past patterns described here are not a guarantee of future results. All levels are computed from the completed regular session. Futures and options trading carries substantial risk of loss and is not suitable for every investor.