I like to pay attention to order flow around London/NY session opens and closes, with an eye towards where weak holders are getting flushed out... Today is a cool example: They tried to bid it up this morning, but failed to test London highs before plowing below 5750s. Hence, elevator shaft down 50+ handles this morning... The afternoon trade is now a different setup after they failed to probe further below 5680s (no idea what that level was, but someone in this forum will figure it out).
Top of my "reference zone" RTH 1st 5 mins range was 5745, which it initially kissed turned back down thru bottom of range 5725 by about 10 points. Flipped back higher and thru top of the range till where we are presently.
Anatomy of a Fall: Press Event Profit Taking For those of you with 133tick charts, it's easier to see the order flow at useful S/R levels during media events. In this recent example, profit targets for longs approaching 5780 didn't quite get there on the first attempt this afternoon (the day is still young). However, interesting to see how price tests below short-term 5min levels until support is found at a key micro-EMA.