After yesterdays large range day, last night's market structure had options. From appearance, a low would be expected into 6:00 AM from a 4:00 AM overnight high. If probable 6:00 AM-ish reaction occurs then the reaction should extend into around 1:00 PM and most likely be upward biased. Selling from 1:00 PM into the close could be dramatic as targets to 2040 and 2018 SPX cash are lurking on our Level's Tools studies. As always, note this data is for educational purposes only and also timing is an estimated window.
Usually, we like timing to be within 30 to 45 minutes but often can extend somewhat more, yet when reviewing the day, it's obvious that it was correct and appropriate. In or near timing windows, generally good idea to keep attention.
It is interesting that daily market structure projection probabilities suggest today's AM session to tomorrow's AM session favors some upward bias. Note, Monday's Daily AM session to Tuesday's AM Session probabilities favored negative bias as discussed last week and have been fulfilled.