Balance, Split Volume at Contract Rollover

The market is in a three day balance around the upper distribution from the 3/5 profile.

March Contract:

The ES was rolling over to the June 2018 contract on Thursday, March 8th. Volume was split between the March and June contracts but was higher on the March contract on Thursday. The majority of trading volume will be in the June contract on Friday.

Thursday’s wide point of control could act as a price magnet at some point on Friday. Balance trade scenarios could also potentially apply to the one day balance as well as the three day balance area – break out of balance to either side, attempt to break out and fail, or remain in balance.

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