The upside target at 2088 was nearly attained on Thursday, as the S&P 500 approached its all-time high. As noted, the area between 2061 and 2088 is a low-volume “speed zone” where price action was expected to be unusually swift. And that was indeed the case. The opening gap on Thursday was never filled or even tested.
As previously mentioned, 2088 is the immediate Target. An eventual overshoot to 2118 has about an 80% probability.
A Note on Volume Profile
The histogram on the left side of the chart shows the volume distribution in the S&P futures for different periods of time. Key support and resistance levels are indicated by the peaks and troughs.
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