Expected Key Points ES/SPX 11 May 2022

ES/SPX 12 May 2022

The current implied volatility is at 32.6%/year
So that converted into daily is 2.05%

The opening of today was 3939

So based on that our channel is going to be compressed within
TOP 4020
BOT 3860
with a probability chance of 86.9% based on the last 1049 candles


From volume point, current POC is around 3930, so I believe initially the 3.9k will sustain/bounce initially, but if the poc is becoming
lower and lower, then we can expect to enter within 3.8k area


From fundamental point, today we have
PPI and initial jobless claims releases and these mark a huge volatility moment
At the same time the current values are expected to be bearish.