The charts shown are highlighting the 12 month periodic volume profile chart. Currently, the S&P 500 and Nasdaq 100 are bouncing off major 2024 value areas.
Nasdaq 100:
Last week we can see how bulls lost the 2024 value area high (VAH) and couldn't reclaim. As a result we swiftly moved down to the point of control (POC) where we found buyers show up.
S&P 500:
Coincidently, the S&P 500 moved down to the 2024 VAH where it also found buyers show up.
Moving Forward:
These areas remain very important and should be monitored going forward. If a bounce is to happen here, bulls would like to see the Nasdaq reclaim the 2024 VAH and even work back into the current 2025 VAL.
Nasdaq 100:
Last week we can see how bulls lost the 2024 value area high (VAH) and couldn't reclaim. As a result we swiftly moved down to the point of control (POC) where we found buyers show up.
S&P 500:
Coincidently, the S&P 500 moved down to the 2024 VAH where it also found buyers show up.
Moving Forward:
These areas remain very important and should be monitored going forward. If a bounce is to happen here, bulls would like to see the Nasdaq reclaim the 2024 VAH and even work back into the current 2025 VAL.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.